China's LGBTQ online community BlueCity listed on Nasdaq

China's BlueCity launched its IPO on the Nasdaq on July 8. Company founder and CEO Ma Baoli is pictured in the middle. Photo/BlueCity

China-based BlueCity, an LGBTQ online community launched its IPO on the Nasdaq today, trading under the ticker symbol "BLCT" at 16 U.S. dollars per share.

The company is the first business in the world built on the LGBTQ community that has gone public. BlueCity was founded back in 2000 to provide LGBTQ people in China with an online destination for community, connection and related information.

Its management is led by founder, Chairman and CEO Ma Baoli, who was previously deputy director of information research at Qinhuangdao Public Security Bureau.

BlueCity's main product, Blued, an online dating app for the LGBTQ community now has over 49 million registered users worldwide. The user base covers over 210 countries and regions.

The app congregates the largest online LGBTQ community in countries such as India, South Korea, Thailand and Vietnam.