China’s Beijing Kunlun to revisit Grindr IPO plan after US national security panel drops opposition
- The US has been increasingly scrutinising app developers over the safety of personal data they handle, especially if some of it involves military personnel
Chinese gaming company Beijing Kunlun Tech Co said on Monday it would revive plans for an initial public offering (IPO) of popular gay dating app Grindr, after a US national security panel dropped its opposition to the plan.
Kunlun said in May it had agreed to a request by the Committee on Foreign Investment in the United States (CFIUS) to sell Grindr, setting a June 2020 deadline to do so and putting preparations for an IPO of Grindr on hold.
A source familiar with the matter said on Monday that Kunlun’s efforts to sell Grindr outright were continuing even as the IPO preparations were relaunched.
A Grindr spokeswoman declined to share more information about the IPO plans. Kunlun did not respond to requests for comment. The US Treasury Department, which chairs CFIUS, did not immediately respond to a request for comment.
CFIUS has not disclosed its concerns about Kunlun’s ownership of Grindr. However, the United States has been increasingly scrutinising app developers over the safety of personal data they handle, especially if some of it involves US military or intelligence personnel.
Reuters reported in May that Kunlun had given some Beijing-based engineers access to the personal information of millions of Americans, including private messages and HIV status.