One in every of China’s greatest cellular gaming corporations is promoting common homosexual courting app Grindr for $608 million after stress from US authorities involved over the potential misuse of person knowledge.
Nationwide safety officers in Washington concern the platform — which payments itself because the world’s largest social networking house for LGBT folks — could possibly be utilized by the Chinese language authorities to blackmail Individuals with authorities safety clearances, in keeping with media stories final 12 months.
Beijing Kunlun Tech took a majority stake within the app in 2016 and purchased the remaining fairness two years later for a mixed $245 million, however was reportedly ordered to relinquish the platform by US officers final 12 months.
It can promote a 98.59 % stake in Grindr to San Vicente Acquisition, a holding firm based mostly within the US state of Delaware, in keeping with an organization submitting with the Shenzhen Inventory Change on Friday.
The deal is awaiting approval from a US committee authorised to overview transactions involving international investments, the submitting mentioned.
Grindr has confronted different accusations of improperly managing the information beneath Beijing Kunlun’s possession.
The platform violated European Union privateness laws by sharing the GPS knowledge, age and gender of its customers with third-party corporations to assist goal commercials, in keeping with a report by a Norwegian client rights group.