As Investors Go After Pink RMB, Gay Social App Zank Raised Multi-Million USD

Zank, a social app for male homosexuals in China, has just closed a multi-million USD series A funding round. The investment bolsters its previous funding by Matrix Partners China shortly after Zank launched in May, 2013.

China’s LGBT Market 

With a pronunciation similar to “awesome” (zan, 赞) in Chinese, Zank is not the only LGBT app that has gained favor in China’s investors. Blued, a social service similar to Zank, raised a multi-million series A round from Crystal Stream this February. Gee Yuu is another app that has netted investments. What should be noted is that all three apps target gay men. CEO of Zank Jeff Ling comments that LGBT apps across the world are mostly male-oriented. That said, the demands for male and female homosexuals are about the same. Zank’s subsidiary Laven is one of the first-comer apps for gay women in China.

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