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IPO Profile

BlueCity Holdings Limited (BLCT)

Offer Price
Offer Size
3-Year Outlook
First Day Turnover


Our story started in the year 2000, when our founder, Mr. Baoli Ma, a closeted policeman by the alias “Geng Le,” founded one of China’s first and most influential LGBTQ online forums, is the predecessor of BlueCity, and Mr. Ma is our number one employee.

Homosexuality was removed from an official list of mental illness in China the next year.

Six Years

After secretly moderating every night for six years by himself, Mr. Ma was joined by a few devoted volunteers in 2006, and they put their hearts and souls into promoting social awareness and connectivity among the LGBTQ community.

For the many years that followed, carried on its public interest gene and made relentless efforts in promoting HIV awareness and prevention. 

34 Employees 

After resigning from his policeman position in 2011, Mr. Ma was determined to fully devote himself to social awareness activities for the LGBTQ population. BlueCity was officially founded in the same year, with the launch of our mobile app Blued the year after.

BlueCity started out with 34 employees and grew exponentially into a market leader in the increasingly active LGBTQ community and the associated “pink economy.” 

49 Million Registered Users

From a one-man operation that started 20 years ago, BlueCity has evolved into a global gateway for the “coming out journey” of the LGBTQ population, encouraging them to be themselves, feel good about themselves, and embrace the community. We celebrate a registered user base of over 49 million on our Blued mobile app as of December 31, 2019. Blued’s average MAUs grew from 4.1 million in the three months ended March 31, 2018 to 6.0 million in the three months ended March 31, 2020. In particular, we had 6.5 million MAUs in March 2020. For detailed descriptions of the definitions of registered user and average MAUs, see “Prospectus Summary—Conventions that Apply to this Prospectus.”

Don’t blink. The best is yet to come. 

Investors Pre-IPO Holdings (%)
Google Ventures 30
Intel Ventures 20
Patricoff Ventures 5
Kleiner Perkins 18

Deal Highlights

Deal Tracker

Filing Date   07 Jul, 2020
Price Date   08 Jul, 2020
Offer Price $16.00
Offer Size 5M
Look Up Expiry Date   08 Jan, 2021
Earnings Release Date   Nov 1, 2018