Grindr

Beijing Kunlun Tech, a Chinese company which owns the popular dating app Grindr, will now be forced to sell it by June 2020, according to a report by CNN.

Beijing Kunlun Tech owns 60% of Grindr, a popular dating app in the LGBTQ community. Last year the company was planning to take the app public but was stopped when the Committee on Foreign Investment in the U.S. (CFIUS) intervened. The U.S. government agency oversees purchases of businesses by foreign entities and expressed concern that the national security of the U.S. would be threatened by the acquisition of the dating app by a Chinese tech company, because of the sensitive user information it had access to.

Image: Sensor Tower

After more than two years in the top spot, Netflix is no longer the world’s highest-grossing non-gaming mobile app. That title now goes to Tinder, which grossed $260.7 million from the Google Play Store and the Apple App Store in the first quarter of this year.

App store intelligence firm Sensor Tower recently released its rankings of the highest grossing apps in the United States and worldwide for Q1 2019. Overall, global app revenue reached $19.5 billion last quarter, up nearly 17 percent year-over-year. Consumer spending on Apple’s App Store totaled approximately $12.4 billion globally, while Google Play revenue grew 20.2 percent year-over-year to approximately $7.1 billion. The world is increasingly moving to mobile, and for companies that are prepared to capitalize on the change, the potential for profit is huge.

Grindr has come under scrutiny in the last several weeks after Chinese company Beijing Kunlun Tech purchased a majority stake in the popular dating app in 2018. The U.S. government has demanded the new owners give up control of the company.

According to The Washington Post, the Committee on Foreign Investment in the United States (CFIUS), a government body charged with overseeing security threats to U.S. companies, has declared that the Grindr purchase is a threat to U.S. national security because of the risk posed to the privacy of users of the app.

INTO, the online LGBTQ publication owned and operated by Grindr, is no more. The company ended the digital magazine’s 14-month run by terminating its editorial staff on January 15 and announcing a pivot to video.

Grindr launched INTO in August 2017. The website featured news articles, op-eds, lifestyle content and advice columns for a modern LGBTQ audience. The launch was part of a larger effort to reframe Grindr as a lifestyle brand, not “just” a dating app, but the outlet’s journalism was praised and went on to win awards from The Association of LGBTQ Journalists and the Transgender Legal Defense and Education Fund.

In a statement shared with NBC News, a Grindr spokesperson called the decision to dismiss INTO's staff a "strategic shift in focus."

The president of gay dating app Grindr is under fire for a Facebook post in which he appeared to express opposition to same-sex marriage. Scott Chen, who became president of Grindr in August after it was purchased by Chinese tech firm Kunlun Group, has since deleted the controversial post and defended himself against accusations of anti-LGBTQ bias.

In a public status posted in late November, Chen wrote in Chinese: “Some people think marriage is a holy matrimony between a man and a woman. And I think so too. But that's your own business." Puzzlingly, he also criticized Christian groups fighting marriage equality and said he would boycott HTC after reports that it had backed US groups opposed to same-sex marriage. Chen’s conflicting remarks were translated to English and published by INTO, a digital magazine owned by Grindr.

Chen responded to the INTO article with criticism, calling it “unbalanced and misleading” and defending his post in the article’s comment section. “The reason I said marriage is a holy matrimony between a man and a woman is based on my own personal experience,” he wrote. “I am a straight man married to a woman I love and I have two beautiful daughters I love from the marriage. This is how I feel about my marriage. Different people have their different feelings about their marriages. You can’t deny my feelings about my marriage.”

Chen also chastised the website for not reaching out to him for comment before publishing the article.

Grindr, the leading dating app for gay and bisexual men, is preparing to list its shares on international stock exchanges. The app’s Chinese parent company, Kunlun Group, said in a stock exchange filing to the China Securities Regulatory Commission that the listing will take place overseas at an unspecified time. The timing and locations of the share sale will be determined by regulatory approval as well as capital market conditions.

In the Shenzhen stock exchange filing, Kunlun Group said that financing arrangements would be made to support Grindr’s expansion following the completion of the IPO. The company’s board said that going public would “strengthen” Grindr’s competitiveness and support future development plans for the business.

“Grindr’s listing won’t exert a huge influence on the group’s revenues and profits,” Kunlun said in the filing, according to The Independent. “Meanwhile, Grindr can have an individual and direct financing platform which can support its expansion and long-term development.”