The Committee on Foreign Investment in the usa (CFIUS) has informed Kunlun that its ownership of West Hollywood, California-based Grindr is really a nationwide risk of security, the 2 sources said.
CFIUS’ certain issues and whether any effort ended up being meant to mitigate them could never be discovered. The usa happens to be increasingly examining software developers throughout the security of individual information they handle, particularly if a number of it involves U.S. Military or intelligence workers.
Kunlun had stated final August it absolutely was get yourself ready for a preliminary general public providing (IPO) of Grindr. The sources said as a result of CFIUS’ intervention, Kunlun has now shifted its focus to an auction process to sell Grindr outright, given that the IPO would have kept Grindr under Kunlun’s control for a longer period of time. (viac…)