WASHINGTON: Beijing Kunlun Tech Co Ltd is planning to sell its Grindr LLC, the popular dating app, after a US government national security panel raised safety concerns, media reports said.
The United States has been increasingly scrutinizing app developers over the safety of personal data they handle, especially if some of it involves US military or intelligence personnel.
Grindr has hired investment bank Cowen Inc to handle the sale process, and is soliciting acquisition interest from U.S. investment firms, as well as Grindr’s competitors, according to the sources.
Kunlun is one of China’s largest mobile gaming companies. It was part of a buyout consortium that acquired Norwegian internet browser business Opera Ltd for $600 million in 2016.
Founded in 2008 by Tsinghua University graduate Zhou Yahui, Kunlun also owns Qudian Inc, a Chinese consumer credit provider, and Xianlai Huyu, a Chinese mobile gaming company.
(Agencies)
Comment