REUTERS – July 28 – Chinese gaming company Beijing Kunlun is relaunching Grindr's IPO process after it said a U.S. national security panel had dropped its opposition to the plan. Beijing Kunlun was preparing for an IPO (IPO) of Grindr in September, but the Committee on Foreign Investment in the US (CFIUS), which reviews deals for potential national security concerns, intervened. At the request of U.S. officials, Kunlun that month agreed to sell the dating app. Grindr will be listed on a stock exchange outside China. Beijing Kunlun acquired a majority stake in Grindr in 2016 for $93M and bought out the remainder of the company in 2018.
by Meg Shen & Jan Harvey
See full article at Reuters