The US is reportedly concerned about Grindr being owned by a Chinese comapny according to the South China Morning Post.
Chinese based company Kunlun bought Grindr through a two stage deal, taking full ownership in 2018.
It’s ten years since the geo-social mobile networking app was first launched. The phone app is now available in 192 countries around the world and is used by over 27 million people.
In January 2016 the US based company who developed the app sold a 61.5 per cent stake in the organisation to Chinese gaming company Beijing Kunlun Tech for $93 million. In January 2018 they paid an additional $152 million taking full ownership of the company.
There had been plans to list the app on the stock exchange, but the company is now reportedly considering selling it outright due the US regulators concerns.
The Committee on Foreign Investment in the United States (COFIUS) has reportedly raised concerns over the deal. The committee was apparently not consulted about the sale earlier, but submitting deals to the body is voluntary.
There are no details on what the concern over Grindr being in foreign hands is, but there has been growing focus about technology apps, particularly those that could be used by service personnel.
All the parties involved have declined to comment.
OIP Staff
