The Committee on Foreign Investment in the U.S. (CFIUS) has effectively ordered the divestiture of Beijing Kunlun’s ownership of the online dating site, Grindr, just as the company was preparing for an IPO. The case is important for three reasons. It emphasizes the importance of a CFIUS risk assessment before an investment or acquisition is negotiated. It highlights the risks of deciding not to make a voluntary CFIUS filing before the deal closes. And it sends a message to parties who have already closed: the U.S. government is watching, so assess your CFIUS exposure now.