FORBES – Grindr’s shares rose after majority owner Raymond Zage withdrew his bid to take the company private and instead pledged to buy more shares on the open market. Zage and partner James Lu, who own ~64% of Grindr, dropped their $3.5B bid after the company’s special committee stopped talks due to uncertainty over financing. Grindr stock has gained over the past two days, recovering part of the drop that followed the halted buyout discussions. Zage, who has already bought ~$200M in shares since 2022, is pushing for higher shareholder returns through buybacks and possibly dividends. Grindr continues to grow, reporting 15M monthly users, 1.3M paying subscribers, rising profits, and strong EBITDA guidance.
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