The Beijing News, 2/02/18
Beijing-based Lancheng Xiongdi, operator of mobile gay social networking app Blued, recently announced the completion of USD 100 mln in Series D funding led by CDH Investments with participation from UG Capital Partners Limited.
In the future, Blued will shift from social networking to the entertainment and health education markets in a three-pronged strategy:
1) Launch short video and AI image social networking functions in succession;
2) Enter the international market. According to founder Geng Le, Blued is now the market share leader in Southeast Asia, and will use this round of funds for market expansion in Latin American and Europe. In December last year, Blued invested in Hornet, a US-based gay social networking app, thereby gaining market share and establishing a presence in Latin America and North America;
3) Continue to cooperate with government, social organizations, and international agencies to promote public welfare cooperation in areas such as public health and AIDS prevention and control.
As of February 2018, Blued had 40 mln registered users in over 193 countries and regions, of which overseas users accounted for 30%.
Editor's Note: For more information on this topic, please see Gay SNS App Blued Completes RMB 8-digit Strategic Funding, MD 2/07/17 and Chinese Gay SNS App Blued Invests in Overseas Rival Hornet, MD 12/16/16 issues.