![largest united state gay dating site largest united state gay dating site](https://queerintheworld.com/wp-content/uploads/2018/06/First-Time-Gay-Sauna-Bathouse-Experience-6.jpeg)
The unraveling of the Grindr deal also highlights the pitfalls facing Chinese acquirers of U.S. “Personal data has emerged as a mainstream concern of CFIUS,” Waite said. agencies, said Jason Waite, a partner at law firm Alston & Bird LLP focusing on the regulatory aspects of international trade and investment. money transfer company MoneyGram International Inc and mobile marketing firm AppLovin by Chinese bidders in the last two years.ĬFIUS does not always reveal the reasons it chooses to block a deal to the companies involved, as doing so could potentially reveal classified conclusions by U.S. The company collects personal information submitted by its users, including a person’s location, messages, and in some cases even someone’s HIV status, according to its privacy policy.ĬFIUS’ intervention in the Grindr deal underscores its focus on the safety of personal data, after it blocked the acquisitions of U.S. Grindr, which describes itself as the world’s largest social networking app for gay, bisexual, transgender and queer people, had 27 million users as of 2017. Department of the Treasury, which chairs CFIUS, said the panel does not comment publicly on individual cases. Kunlun representatives did not respond to requests for comment. The sources asked not to be identified because the matter is confidential. Kunlun took over Grindr through two separate deals between 20 without submitting the acquisition for CFIUS review, according to the sources, making it vulnerable to such an intervention. The development represents a rare, high-profile example of CFIUS undoing an acquisition that has already been completed. investment firms, as well as Grindr’s competitors, according to the sources. Grindr has hired investment bank Cowen Inc to handle the sale process, and is soliciting acquisition interest from U.S. 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, the sources said. Kunlun had said last August it was preparing for an initial public offering (IPO) of Grindr. The United States has been increasingly scrutinizing app developers over the safety of personal data they handle, especially if some of it involves U.S. The Committee on Foreign Investment in the United States (CFIUS) has informed Kunlun that its ownership of West Hollywood, California-based Grindr constitutes a national security risk, the two sources said.ĬFIUS’ specific concerns and whether any attempt was made to mitigate them could not be learned. government national security panel raised concerns about its ownership, according to people familiar with the matter. March 27 (Reuters) - Chinese gaming company Beijing Kunlun Tech Co Ltd is seeking to sell Grindr LLC, the popular gay dating app it has owned since 2016, after a U.S.