User:Bluedcity/sandbox

Introduction
BlueCity is a Chinese multinational online LGBTQ company headquartered in Beijing, China. It provides social networking, live streaming, professional health and family planning consulting services. It develops the largest gay social networking app, Blued. The company has currently employed more than 500 people worldwide and a market value of $335 millions.

Start up (2000-2012)
From 2000, a police officer, Ma Baoli (aka Geng Le) has previously ran LBGTQ+ online forums Danlan.org. At the time China doesn’t officially recognise homosexuality, nor explicitly ban them, but LGBT content is considered sensitive and blocked by censors. After his superiors discovered website, Ma Baoli lost the job and the support of his family. He spent almost all of his saving, $7,400, to set up a gay dating app called blued in 2011, in the year later he moved to beijing with seven friends while BlueCity was born. In 2012, The first versions of blued was developed by college students and the year later Blued has more than half a million users signed up. In 2012, Ma Baoli still goes by the alias Geng Le on Danlan.org.

Bloomding (2013- 2018)
In 2013, Ma Baoli received $500,000 in angel investment from hanghai Zhonglu Group and an undisclosed amount investment from Beijing's Crystal Stream Capital for expanding business. In November the same year, Sillcon Valley-based DCM Ventures invested 30 millions to BlueCity for exploring the gay community in China.

In the next year, the community has subscribed by 15 million people and averagely reached by 3 million daily users. In the period, BlueCity has no revenue, except a trickle of advertising on Danlan.org as the app is free. Ma Baoli wants to launch a premium version with special features. Also on the drawing board is an e-commerce service specifically for the gay community, in which Blued would take a cut of merchandise sales.

In 2017, BlueCity lanuched Bluebaby, the services which provides range of surrogacy support and advices. It helps gay couples for choosing egg donor, finding surrogate, contract signing and offering rideshare services.

IPO Listing in US (2019- present)
In 2019, BlueCity rolled out HeHealth, which offers access to a range HIV-related medication and consulting services. It has revenues of 759 million yuan while its on an increase of 51.4% in the end of the year.

In the first quarter of 2020, It has more than 49 million registered user in 210 counties and regions as half its 6 million monthly are based overseas. The income structures is concentrated on live streaming which takes 88.5% of its earning, while the membership services increased by 390.6% in a year basis. Yet BlueCity has yet to achieve profitability as it narrowed the yearly net loss to 3.7%.

In August the same year, Blued City had acquired Chinese lesbian dating app LESDO as it said in his report ‘’The acquisition marks a significant milestone in implementing our strategy to serve subgroups within the broader LGBTQ community,”

Since March 31 in 2020, The Company had filled for $50 million Initial public offering for trading on the Nasdaq with ATMD as lead underwriter. and Baoli Ma declaiemd that the Nasdaq rising had valued the company at 614 million.

According to BllueCity’s 2020 Q2 report, 85% of its revenue came from its live streaming, and other 15% diversified by membership fees, advertising, merchandise sale brought and other services. Most of it made from China except 11% from its global users. earnings that showed its total revenue over 35 million.

Bluecity has a market valuation of $335 million currently and counts Silicon Valley-based DCM Ventures, Xiaomi investment arm Shunwei Capital and Hong Kong property group New World Development as backers. Once struggling to recruit, Ma now employs more than 500 people worldwide.