Gay Dating App Grindr Sold for USD 608 million
Beijing, Mar 9 (AFP): One of China''s biggest mobile gaming company is selling popular gay dating app Grindr for USD 608 million after pressure from US authorities concerned over the potential misuse of user data.
National security officials in Washington fear the platform which bills itself as the world''s largest social networking space for LGBT people could be used by the Chinese government to blackmail Americans with government security clearances, according to media reports last year.
Beijing Kunlun Tech took a majority stake in the app in 2016 and bought the remaining equity two years later for a combined USD 245 million, but was reportedly ordered to relinquish the platform by US officials last year.
It will sell a 98.59 percent stake in Grindr to San Vicente Acquisition, a...