CAPITAL.COM – A merger with a special-purpose acquisition company (SPAC) Tiga Acquisition was announced back in May and it valued Grindr at $2.1B. The deal is expected to close by the end of the year. Grindr will trade under the name Gindr Inc. and will be listed on the New York Stock Exchange. It is expected the stock will initially be priced at $10. As of Dec 2021, Grindr has 10.8M active subscribers and of this, 723K are paying users, up ~30% compared to 2020. For 2022, the app has forecast a rise in revenue growth between 35-40% and the company reported revenue of $147M, an increase of 30% from 2020. Match Group's share has fallen 67% this year. Bumble has also seen a drop in share price of 68% since going public in Feb 2021.
by Jenny McCall
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