REUTERS – Grindr has ended talks on a $3.46B take-private offer from its major shareholders Ray Zage and James Lu after they failed to provide clear financing details. The stock fell ~12% after the announcement. Grindr says the breakdown of talks does not change its strategy and that it is still projecting ~26% revenue growth for the year. The company continues to outperform Match Group and Bumble despite weaker sentiment in the dating-app sector. Zage and Lu, who bought Grindr in 2020 and took it public in 2022, hold ~60% of the shares.
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