YAHOO FINANCE – Mar 29 – When Lulu started, it wasn't a vehicle for finding a date; it was a rating app. In February, the app sold to Badoo, the largest online-dating company in the world, for an undisclosed amount, and the rating system was swiftly dismantled. It now looks like any other Tinder imitation. Alexandra Chong, the former Lulu CEO, has relocated to London and become president of Badoo. Lulu will remain active for now, Badoo says, but Chong will be focusing on Badoo's separate mobile app. In other words, the Lulu acquisition looks more like an acqui-hire. Badoo hadn't made many acquisitions before it bought Lulu, which would not share how many users it has. Badoo has 300M users across 190 countries, and one of Chong's new tasks is to grow its app in the US.
by Daniel Roberts
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Summarized by the Courtland Brooks team