Chinese Gaming Company To Sell Grindr For $608M

Chinese Gaming Company To Sell Grindr For $608M

Reuters reports:

Chinese gaming company Beijing Kunlun Tech Co Ltd said on Friday that it has agreed to sell Grindr LLC, a popular gay dating app it acquired in 2016, for about $608.5 million.

The deal comes after a U.S. government panel set a June 2020 deadline to sell the app. The panel, dubbed the Committee on Foreign Investment in the United States (CFIUS), has not disclosed its concerns about Kunlun’s ownership of Grindr.

However, the United States has been increasingly scrutinizing app developers over the safety of personal data they handle, especially if some of it involves U.S. military or intelligence personnel.