SEMAFOR – Grindr’s two main owners, Raymond Zage and James Lu, might buy back the company and make it private again. They’re talking with Fortress Investment Group to borrow money for the deal. They’re considering paying ~$15 per share, which would value Grindr at $3B. Right now, the company is worth $2.4B on the stock market. Even though Grindr’s profits went up 25% last quarter, the stock price has dropped over 20% since September. The deal could attract national-security attention, since Grindr was once owned by a Chinese company and handles sensitive user data.
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