Grindr's Chinese owner says to sell social media app for $608 mln By Reuters
Chinese gaming organization Beijing Kunlun Tech Co Ltd (SZ:300418) said on Friday that it has consented to sell Grindr LLC, a mainstream gay dating application it gained in 2016, for about $608.5 million.
The arrangement comes after a U.S. government board solicited Kunlun to strip itself from Grindr. The board, the Committee on Foreign Investment in the United States (CFIUS), has not unveiled its interests about Kunlun's responsibility for.
Be that as it may, the United States has been progressively investigating application designers over the security of individual information they handle, particularly if some of it includes U.S. military or knowledge faculty.
Kunlun said it consented to sell its 98.59% stake in Grindr to San Vicente Acquisition LLC.
Reuters announced before on Friday that Kunlun was near marking a business bargain, refering to individuals acquainted with the issue.
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