HONG KONG/NEW YORK (Reuters) – Chinese gaming company Beijing Kunlun Tech Co Ltd said on Monday it would revive plans for an initial public offering (IPO) of popular gay dating app Grindr Inc, after a U.S. 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.
Source - Matter - Monday - Kunlun - Efforts
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 U.S Treasury Department, which chairs CFIUS, did not immediately respond to a request for comment.
CFIUS - Concerns - Kunlun - Ownership - Grindr
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...
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