Grindr just made a big announcement
Grindr announced yesterday that it’s going to go public and float on the stock market.In a press release describing itself as “the #1 social network for the LGBTQ+ community” (ahem), Grindr said it was merging with Singapore-based investment company Tiga Acquisition Corp. (TAC) ahead of the public offering.
The combined company will be called Grindr, Inc.TAC will help Grindr raise the funds to go public.“Grindr is well positioned to be a public company and will continue to expand the ways it serves the LGBTQ+ community, from products, services to the philanthropic and advocacy work done through Grindr 4 Equality,” said its CEO, Jeff Bonforte.Related: The Old Gays reacting to Grindr tags might be the best thing you see all dayJames F.
Lu, Chair of Grindr’s Board of Directors, added, “This transaction is a milestone event, not only for our iconic company, our people, partners, and investors, but also for the community we serve around the world.”Grindr was launched in 2009 by tech entrepreneur Joel Simkhai.
One of the first geosocial networking sites on the market, it benefited from the explosion in smartphone use and quickly became one of the most popular dating apps for gay and bisexual men.Over 2016-2017, China-based Beijing Kunlun Tech paid almost $250million to purchase Grindr.However, the purchase fell foul of US authorities, who were uncomfortable with a Chinese company holding the data of so many US citizens.
