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Chinese company seeks to app sell Grindr dating

Chinese company seeks to app sell Grindr dating

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U.S. federal federal federal government security that is national has expressed concern about gay relationship software’s ownership

Chinese video video gaming business Beijing Kunlun Tech Co. Ltd. is wanting to offer Grindr LLC, the most popular gay relationship application it offers owned since 2016, after a U.S. government nationwide safety panel raised issues about its ownership, in accordance with individuals acquainted with the problem.

The Committee on Foreign Investment in america (CFIUS) has informed Kunlun that its ownership of western Hollywood, California-based Grindr is really a nationwide risk of security, the 2 sources stated.

CFIUS’ particular issues and whether any effort ended up being meant to mitigate them could never be learned. The usa was app that is increasingly scrutinizing throughout the security of individual information they handle, particularly if a number of it involves U.S. military or intelligence workers.

Kunlun had stated final August it absolutely was get yourself ready for a short general public providing (IPO) of Grindr. As a consequence of CFIUS’ intervention, Kunlun has shifted its focus to an auction procedure to market Grindr outright, considering that the IPO could have held Grindr under Kunlun’s control for a longer time period, the sources stated.

Grindr has employed investment bank Cowen Inc. to manage the purchase procedure, and it is soliciting purchase interest from U.S. Continue reading →