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CFIUS' specific concerns and whether any attempt was made to mitigate them could not be learned. The United States has been increasingly scrutinizing app developers over the safety of personal data they handle, especially if some of it involves U.
As a result of CFIUS' intervention, Kunlun has now shifted its focus to an auction process to sell Grindr outright, given that the IPO would have kept Grindr under Kunlun's control for a longer period of time, the sources said. Grindr has hired investment bank Cowen Inc to handle the sale process, and is soliciting acquisition interest from U. The development represents a rare, high-profile example of CFIUS undoing an acquisition that has already been completed.
CFIUS' intervention in the Grindr deal underscores its focus on the safety of personal data, after it blocked the acquisitions of U.
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Chinese Firm, Told US Security at Risk, Seeks to Sell Grindr Dating App
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