REUTERS – Two major Grindr board members, Ray Zage and James Lu, who already control ~60% of the company, have proposed taking the LGBTQIA+ dating app private at a $3.46B valuation ($18 per share), a 51% premium over its Oct 10 price. The offer aims to consolidate control amid slowing user growth and “swiping fatigue” affecting the dating industry. Zage and Lu, who bought Grindr in 2020 and took it public in 2022, claim to have secured strong financing commitments. Grindr’s special committee of independent directors is currently reviewing the unsolicited offer.
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