PANDAILY - The privatization of LGBTQ platform BlueCity is nearing completion. It will be controlled by Metaclass Management, a fund owned by Chinese social networking product developer Newborn Town. The buyer group includes Metaclass Management, BlueCity's founder Ma Baoli, and CDH Investment. According to the agreement, BlueCity will be acquired for $3.20/share and the transaction valuation is $60M. BlueCity's operating income in 2021 was $169M.
See full article at Pandaily
See the top news on Blued
This post also appears on VerySocialNetwork
Comments