A Chinese company was recently forced to sell California-based Grindr, the world’s largest gay dating app, after the Committee on Foreign Investment in the United States (CFIUS) determined that its ownership constituted a national security risk.
To explain the issue to readers, Bloomberg Law featured an article by Partner Nevena Simidjiyska, co-chair of the International Trade Practice Group, on the significance of the determination and what it means for foreign ownership of U.S. social media companies. In her piece, Nevena examines the impact of the Foreign Investment Risk Review Modernization Act of 2018 and the signals the Grindr decision sends about scrutiny of companies that hold U.S. citizens’ personal data.
Read her piece, “INSIGHT: U.S. Swipes Left on Chinese Acquisition of Grindr Over National Security Concerns,” in Bloomberg Law.