Chinese tech firm Beijing Kunlun Tech
Co. is selling gay dating app Grindr for about $608.5 million,
According to a filing, Kunlun has
agreed to sell its 99% stake in Grindr to San Vicente Acquisition
president reportedly said he's opposed to same-sex marriage.)
The deal needs the approval of
Kunlun was forced to sell the app last
year over growing concerns in the U.S. that the Chinese government
could use consumer technology to collect personal data on Americans.
Kunlun, which was previously planning
an IPO for Grindr overseas, purchased a majority stake in Grindr for
$93 million in 2016. Two years later, it bought the remaining shares.