Beijing firm markets gay dating iphone app Grindr amid fear China would blackmail US officials
Among China's biggest mobile video games companies is selling popular gay dating iphone app Grindr for USD 608 million after pressure from US authorities concerned above the probable misuse of user info.
National security officials on Washington fear that Grindr -- which bills itself as the world's most significant social media space for LGBT people -- could be used by the Chinese government to blackmail Us citizens with government security clearances, in respect to media reports this past year.
Beijing Kunlun Tech took many stake in the iphone app in 2016 and bought the rest of the equity two years later on for a merged USD 245 million, but was reportedly ordered to relinquish the system by US officials last year.
It will sell a 98.59 % stake in Grindr to San Vicente Acquisition, a retaining company based in the united states state of Delaware, according to a company filing with the Shenzhen Stock Exchange on Friday.
The offer is awaiting approval from a US committee authorised to examine transactions involving foreign investments, the filing said.
Grindr has faced other accusations of improperly managing the info under Beijing Kunlun's possession.
The platform violated European Union privacy regulations by sharing the GPS info, age and gender of its users with third-party companies to greatly help target advertisements, according to a written report by a Norwegian consumer rights group.
