72nd Day Of Lockdown

Maharashtra74860323292587 Tamil Nadu2587214316208 Delhi236459542615 Gujarat18117122121122 Rajasthan96526744209 Uttar Pradesh88705257230 Madhya Pradesh82835003358 West Bengal61682410364 Karnataka4063151453 Andhra Pradesh3971246468 Bihar3945174123 Telangana3020155699 Jammu and Kashmir260194631 Odisha238814169 Haryana2356105521 Punjab2301200044 Kerala149565112 Assam14862854 Uttarakhand9592225 Jharkhand6612965 Chhatisgarh5481211 Tripura4231730 Himachal Pradesh3401186 Chandigarh2972144 Puducherry88300 Manipur83110 Goa73500 Nagaland5800 Arunachal Pradesh3710 Meghalaya33131 Mizoram1410 Sikkim200
Technology Other News 07 Mar 2020 Beijing firm sells g ...

Beijing firm sells gay dating app Grindr amid fear China would blackmail US officials

AFP
Published Mar 7, 2020, 7:19 pm IST
Updated Mar 7, 2020, 7:19 pm IST
Majority stakeholder since 2016, Beijing Kunlun Tech told by US officials to give up ownership, sells stake to US firm for USD 608 million
National security officials in Washington fear that Grindr -- 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.
 National security officials in Washington fear that Grindr -- 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: One of China's biggest mobile gaming companies 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 that Grindr -- 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 per cent stake in Grindr to San Vicente Acquisition, a holding company based in the US state of Delaware, according to a company filing with the Shenzhen Stock Exchange on Friday.

The deal is awaiting approval from a US committee authorised to review transactions involving foreign investments, the filing said.

Grindr has faced other accusations of improperly managing the data under Beijing Kunlun's ownership.

The platform violated European Union privacy regulations by sharing the GPS data, age and gender of its users with third-party companies to help target advertisements, according to a report by a Norwegian consumer rights group.

Click on Deccan Chronicle Technology and Science for the latest news and reviews. Follow us on Facebook, Twitter

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT