WALL STREET JOURNAL – May 30 – U.S. national security officials have approved an investor group’s purchase of gay-dating app Grindr that is being sold by a Chinese company after the Trump administration raised concerns about the potential theft of Americans‘ personal data. China’s Beijing Kunlun Tech said that the buyer – San Vicente Acquisition – has secured approval from the Committee on Foreign Investment in the U.S. Grindr could be sold for $608.5M. In 2016, Kunlun paid $93M for a 60% stake in Grindr. It acquired the rest of Grindr for $152M in 2018.
by Katy Stech Ferek
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