Gay men’s dating app Grindr of West Hollywood has sold a 60 percent stake to Chinese gaming company Kunlun Tech Co. for $93 million.

Grindr has been shopping itself around last year and had hired Raine Group to advise it on opportunities to be acquired or to receive investment. At one point, the parent company of affair website Ashley Madison considered buying a majority stake for as much as $70 million.

“We have taken this investment in our company to accelerate our growth, to allow us to expand our services for (our users), and to continue to ensure that we make Grindr the number one app and brand for our millions of users,” Chief Executive and Founder Joel Simkhai wrote in a blog post.

The deal values Grindr at $155 million. Simkhai and Grindr employees own the remaining 40 percent of the company. The company was launched in 2009 without any outside capital.

Grindr’s revenue was about $32 million in 2014, according to the company, up 29 percent from 2013.

Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.