In 2018, the US objected Kunlun Group's plans to join the international public market. Today, in a fast turnaround, a US spokesperson clained that no further objections or oppositions will be made. The Kulnun Group, the company which developed the LGBTQ dating application Grindr, has already spoken out with their plans to go ahead with the IPO. The Committee on Foreign Investment in the United States (CFIUS) has reportedly welcomed the new application.
We had suspended plans to list Grindr in 2018 because of communication with the CFIUS. We now plan to restart the listing
The US Government had previously expressed concerns that the US-Based concept by a foreign entity could pose a risk to national security, but many feared that the objection decision was based solely on the nature of the app, despite the Grindr headquarters being based in Chicago. The decision came at a tense time for US-China relations, with telecommunications giant Huawei still under investigation by the FBI and other government agencies. Huawei still firmly denies all allegations of wrongdoing.
The LGBTQ community spoke out heavily about the 2018 objections, but the CFIUS maintains that the decisions they make are purely in the interest of financial stability and consumer safety. Grindr is the world's most popular gay dating application, with a reported 27 million users worldwide.