Grindr’s Financial Crisis Sparks Potential Take-Private Deal
Grindr’s controlling shareholders are exploring taking the LGBTQ+ dating app private after a stock decline created personal financial pressures. The owners pledged shares as collateral for loans that became undercollateralized, forcing lender action. Talks are underway with Fortress Investment Group for a potential $15 per share buyout.
Grindr’s majority owners are facing a significant financial crisis that has triggered urgent discussions about taking the popular LGBTQ+ mobile app private. According to a detailed report from Semafor, controlling shareholders Raymond Zage and James Lu are scrambling to address personal loan obligations after Grindr’s stock decline left their collateralized shares underwater, creating immediate pressure for a strategic solution.