Grindr, the publicly-traded company behind the popular dating and social networking app for LGBTQ people, is closer to becoming private.
On Friday, two of Grindr’s board members who are also major investors offered to acquire the West Hollywood company for $18 per share in cash, a proposal that would value Grindr at nearly $3.5 billion.
The buyout offer represents a 51% premium over the company’s stock price on Oct. 10. It’s a sign that the dating app is facing another inflection point as Gen Z users, tired of swiping through potential matches, move toward in-person interactions.
The board members, George Raymond Zage III and James Fu Bin Lu, are part of a group of investors that own more than 60% of Grindr’s outstanding shares. Lu serves as the chairperson of Grindr’s board and Zage is a member.
“We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves,” Zage said in a statement.
Debt and equity investors have also expressed interest in participating in the deal, according to a news release from the investors.
Founded in 2009, Grindr grew into a popular dating app used by gay, lesbian, bisexual, trans and queer people. While it’s well known for dating, Grindr also offers ways for its users to find friends, professionally network and even gather travel tips. The company went public in 2022 and has nearly 15 million monthly active users.
But Grindr has also struggled to hit Wall Street’s expectations. The company, which makes money through subscription fees and ad sales, saw its stock plunge in March after the company’s fourth-quarter earnings and 2025 margin forecast fell short of estimates.
Grindr confirmed last week that a special committee of its board of directors received the buyout proposal. Working with legal and financial advisors, the committee is reviewing the offer, according to a news release from the company.
Grindr’s shares soared after the announcement, closing up nearly 19% on Friday. On Monday morning, the company’s stock was down more than 4% at $14.45 per share.
Grindr, the publicly-traded company behind the popular dating and social networking app for LGBTQ people, is closer to becoming private.
On Friday, two of Grindr’s board members who are also major investors offered to acquire the West Hollywood company for $18 per share in cash, a proposal that would value Grindr at nearly $3.5 billion.
The buyout offer represents a 51% premium over the company’s stock price on Oct. 10. It’s a sign that the dating app is facing another inflection point as Gen Z users, tired of swiping through potential matches, move toward in-person interactions.
The board members, George Raymond Zage III and James Fu Bin Lu, are part of a group of investors that own more than 60% of Grindr’s outstanding shares. Lu serves as the chairperson of Grindr’s board and Zage is a member.
“We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves,” Zage said in a statement.
Debt and equity investors have also expressed interest in participating in the deal, according to a news release from the investors.
Founded in 2009, Grindr grew into a popular dating app used by gay, lesbian, bisexual, trans and queer people. While it’s well known for dating, Grindr also offers ways for its users to find friends, professionally network and even gather travel tips. The company went public in 2022 and has nearly 15 million monthly active users.
But Grindr has also struggled to hit Wall Street’s expectations. The company, which makes money through subscription fees and ad sales, saw its stock plunge in March after the company’s fourth-quarter earnings and 2025 margin forecast fell short of estimates.
Grindr confirmed last week that a special committee of its board of directors received the buyout proposal. Working with legal and financial advisors, the committee is reviewing the offer, according to a news release from the company.
Grindr’s shares soared after the announcement, closing up nearly 19% on Friday. On Monday morning, the company’s stock was down more than 4% at $14.45 per share.
Grindr, the publicly-traded company behind the popular dating and social networking app for LGBTQ people, is closer to becoming private.
On Friday, two of Grindr’s board members who are also major investors offered to acquire the West Hollywood company for $18 per share in cash, a proposal that would value Grindr at nearly $3.5 billion.
The buyout offer represents a 51% premium over the company’s stock price on Oct. 10. It’s a sign that the dating app is facing another inflection point as Gen Z users, tired of swiping through potential matches, move toward in-person interactions.
The board members, George Raymond Zage III and James Fu Bin Lu, are part of a group of investors that own more than 60% of Grindr’s outstanding shares. Lu serves as the chairperson of Grindr’s board and Zage is a member.
“We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves,” Zage said in a statement.
Debt and equity investors have also expressed interest in participating in the deal, according to a news release from the investors.
Founded in 2009, Grindr grew into a popular dating app used by gay, lesbian, bisexual, trans and queer people. While it’s well known for dating, Grindr also offers ways for its users to find friends, professionally network and even gather travel tips. The company went public in 2022 and has nearly 15 million monthly active users.
But Grindr has also struggled to hit Wall Street’s expectations. The company, which makes money through subscription fees and ad sales, saw its stock plunge in March after the company’s fourth-quarter earnings and 2025 margin forecast fell short of estimates.
Grindr confirmed last week that a special committee of its board of directors received the buyout proposal. Working with legal and financial advisors, the committee is reviewing the offer, according to a news release from the company.
Grindr’s shares soared after the announcement, closing up nearly 19% on Friday. On Monday morning, the company’s stock was down more than 4% at $14.45 per share.
Grindr, the publicly-traded company behind the popular dating and social networking app for LGBTQ people, is closer to becoming private.
On Friday, two of Grindr’s board members who are also major investors offered to acquire the West Hollywood company for $18 per share in cash, a proposal that would value Grindr at nearly $3.5 billion.
The buyout offer represents a 51% premium over the company’s stock price on Oct. 10. It’s a sign that the dating app is facing another inflection point as Gen Z users, tired of swiping through potential matches, move toward in-person interactions.
The board members, George Raymond Zage III and James Fu Bin Lu, are part of a group of investors that own more than 60% of Grindr’s outstanding shares. Lu serves as the chairperson of Grindr’s board and Zage is a member.
“We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves,” Zage said in a statement.
Debt and equity investors have also expressed interest in participating in the deal, according to a news release from the investors.
Founded in 2009, Grindr grew into a popular dating app used by gay, lesbian, bisexual, trans and queer people. While it’s well known for dating, Grindr also offers ways for its users to find friends, professionally network and even gather travel tips. The company went public in 2022 and has nearly 15 million monthly active users.
But Grindr has also struggled to hit Wall Street’s expectations. The company, which makes money through subscription fees and ad sales, saw its stock plunge in March after the company’s fourth-quarter earnings and 2025 margin forecast fell short of estimates.
Grindr confirmed last week that a special committee of its board of directors received the buyout proposal. Working with legal and financial advisors, the committee is reviewing the offer, according to a news release from the company.
Grindr’s shares soared after the announcement, closing up nearly 19% on Friday. On Monday morning, the company’s stock was down more than 4% at $14.45 per share.
Grindr, the publicly-traded company behind the popular dating and social networking app for LGBTQ people, is closer to becoming private.
On Friday, two of Grindr’s board members who are also major investors offered to acquire the West Hollywood company for $18 per share in cash, a proposal that would value Grindr at nearly $3.5 billion.
The buyout offer represents a 51% premium over the company’s stock price on Oct. 10. It’s a sign that the dating app is facing another inflection point as Gen Z users, tired of swiping through potential matches, move toward in-person interactions.
The board members, George Raymond Zage III and James Fu Bin Lu, are part of a group of investors that own more than 60% of Grindr’s outstanding shares. Lu serves as the chairperson of Grindr’s board and Zage is a member.
“We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves,” Zage said in a statement.
Debt and equity investors have also expressed interest in participating in the deal, according to a news release from the investors.
Founded in 2009, Grindr grew into a popular dating app used by gay, lesbian, bisexual, trans and queer people. While it’s well known for dating, Grindr also offers ways for its users to find friends, professionally network and even gather travel tips. The company went public in 2022 and has nearly 15 million monthly active users.
But Grindr has also struggled to hit Wall Street’s expectations. The company, which makes money through subscription fees and ad sales, saw its stock plunge in March after the company’s fourth-quarter earnings and 2025 margin forecast fell short of estimates.
Grindr confirmed last week that a special committee of its board of directors received the buyout proposal. Working with legal and financial advisors, the committee is reviewing the offer, according to a news release from the company.
Grindr’s shares soared after the announcement, closing up nearly 19% on Friday. On Monday morning, the company’s stock was down more than 4% at $14.45 per share.
Grindr, the publicly-traded company behind the popular dating and social networking app for LGBTQ people, is closer to becoming private.
On Friday, two of Grindr’s board members who are also major investors offered to acquire the West Hollywood company for $18 per share in cash, a proposal that would value Grindr at nearly $3.5 billion.
The buyout offer represents a 51% premium over the company’s stock price on Oct. 10. It’s a sign that the dating app is facing another inflection point as Gen Z users, tired of swiping through potential matches, move toward in-person interactions.
The board members, George Raymond Zage III and James Fu Bin Lu, are part of a group of investors that own more than 60% of Grindr’s outstanding shares. Lu serves as the chairperson of Grindr’s board and Zage is a member.
“We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves,” Zage said in a statement.
Debt and equity investors have also expressed interest in participating in the deal, according to a news release from the investors.
Founded in 2009, Grindr grew into a popular dating app used by gay, lesbian, bisexual, trans and queer people. While it’s well known for dating, Grindr also offers ways for its users to find friends, professionally network and even gather travel tips. The company went public in 2022 and has nearly 15 million monthly active users.
But Grindr has also struggled to hit Wall Street’s expectations. The company, which makes money through subscription fees and ad sales, saw its stock plunge in March after the company’s fourth-quarter earnings and 2025 margin forecast fell short of estimates.
Grindr confirmed last week that a special committee of its board of directors received the buyout proposal. Working with legal and financial advisors, the committee is reviewing the offer, according to a news release from the company.
Grindr’s shares soared after the announcement, closing up nearly 19% on Friday. On Monday morning, the company’s stock was down more than 4% at $14.45 per share.
Grindr, the publicly-traded company behind the popular dating and social networking app for LGBTQ people, is closer to becoming private.
On Friday, two of Grindr’s board members who are also major investors offered to acquire the West Hollywood company for $18 per share in cash, a proposal that would value Grindr at nearly $3.5 billion.
The buyout offer represents a 51% premium over the company’s stock price on Oct. 10. It’s a sign that the dating app is facing another inflection point as Gen Z users, tired of swiping through potential matches, move toward in-person interactions.
The board members, George Raymond Zage III and James Fu Bin Lu, are part of a group of investors that own more than 60% of Grindr’s outstanding shares. Lu serves as the chairperson of Grindr’s board and Zage is a member.
“We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves,” Zage said in a statement.
Debt and equity investors have also expressed interest in participating in the deal, according to a news release from the investors.
Founded in 2009, Grindr grew into a popular dating app used by gay, lesbian, bisexual, trans and queer people. While it’s well known for dating, Grindr also offers ways for its users to find friends, professionally network and even gather travel tips. The company went public in 2022 and has nearly 15 million monthly active users.
But Grindr has also struggled to hit Wall Street’s expectations. The company, which makes money through subscription fees and ad sales, saw its stock plunge in March after the company’s fourth-quarter earnings and 2025 margin forecast fell short of estimates.
Grindr confirmed last week that a special committee of its board of directors received the buyout proposal. Working with legal and financial advisors, the committee is reviewing the offer, according to a news release from the company.
Grindr’s shares soared after the announcement, closing up nearly 19% on Friday. On Monday morning, the company’s stock was down more than 4% at $14.45 per share.
Grindr, the publicly-traded company behind the popular dating and social networking app for LGBTQ people, is closer to becoming private.
On Friday, two of Grindr’s board members who are also major investors offered to acquire the West Hollywood company for $18 per share in cash, a proposal that would value Grindr at nearly $3.5 billion.
The buyout offer represents a 51% premium over the company’s stock price on Oct. 10. It’s a sign that the dating app is facing another inflection point as Gen Z users, tired of swiping through potential matches, move toward in-person interactions.
The board members, George Raymond Zage III and James Fu Bin Lu, are part of a group of investors that own more than 60% of Grindr’s outstanding shares. Lu serves as the chairperson of Grindr’s board and Zage is a member.
“We acquired Grindr in 2020 and have been intently focused on building a world class management team that is focused on improving the product for the community Grindr serves,” Zage said in a statement.
Debt and equity investors have also expressed interest in participating in the deal, according to a news release from the investors.
Founded in 2009, Grindr grew into a popular dating app used by gay, lesbian, bisexual, trans and queer people. While it’s well known for dating, Grindr also offers ways for its users to find friends, professionally network and even gather travel tips. The company went public in 2022 and has nearly 15 million monthly active users.
But Grindr has also struggled to hit Wall Street’s expectations. The company, which makes money through subscription fees and ad sales, saw its stock plunge in March after the company’s fourth-quarter earnings and 2025 margin forecast fell short of estimates.
Grindr confirmed last week that a special committee of its board of directors received the buyout proposal. Working with legal and financial advisors, the committee is reviewing the offer, according to a news release from the company.
Grindr’s shares soared after the announcement, closing up nearly 19% on Friday. On Monday morning, the company’s stock was down more than 4% at $14.45 per share.
