(Reuters) – Chinese video video video gaming business Beijing Kunlun Tech Co Ltd is trying to offer Grindr LLC, the most popular gay relationship software this has owned since 2016, after a U.S. federal government nationwide safety panel raised concerns about its ownership, relating to individuals acquainted with the problem.
The Committee on Foreign Investment in the us (CFIUS) has informed Kunlun that its ownership of West Hollywood, California-based Grindr takes its security that is national, the two sources stated.
CFIUS’ concerns that are specific whether any effort had been meant to mitigate them could never be discovered. The united states of america british girlfriend dating happens to be increasingly examining software developers over the security of individual information they handle, particularly when several of it involves U.S. military or intelligence workers.
Kunlun had said final August it absolutely was get yourself ready for a preliminary general public offering (IPO) of Grindr. As a consequence of CFIUS’ intervention, Kunlun has shifted its focus to an auction procedure to market Grindr outright, considering the fact that the IPO might have held Grindr under Kunlun’s control for a longer period of the time, the sources stated.
Grindr has employed investment bank Cowen Inc to carry out the sale procedure, and it is soliciting purchase interest from U.S. Read more