The Committee on Foreign Investment in the usa (CFIUS) has informed Kunlun that its ownership of western Hollywood, California-based Grindr takes its nationwide threat to security, the 2 sources stated.
CFIUS’ certain issues and whether any effort ended up being meant to mitigate them could not be discovered. The usa happens to be app that is increasingly scrutinizing throughout the security of individual information they handle, particularly if several of it involves U.S. Military or intelligence workers.
Kunlun had said final August it absolutely was finding your way through a preliminary offering that is publicIPO) of Grindr. Because of CFIUS’ intervention, Kunlun has shifted its focus to an auction procedure to market Grindr outright, considering the fact that the IPO could have held Grindr under Kunlun’s control for a longer time period, the sources stated.
Grindr has employed investment bank Cowen Inc to carry out the purchase procedure, and it is soliciting purchase interest from U.S.Read More