FAST COMPANY – Grindr’s largest shareholders, Raymond Zage and James Lu, are exploring a plan to take the company private again, just four years after it went public through a SPAC merger in 2021. The move follows a recent stock drop that led a lender to seize shares tied to a personal loan. Reports say Zage and Lu are in talks with Fortress Investment Group to finance a buyout at about $15 per share, compared to Grindr’s $12.72 closing price on October 15. The two control over 60% of Grindr’s stock, prompting the board to form an independent committee to review any offer. Grindr’s shares had peaked at $24.73 in June 2025 but have since fallen, partly after a Ningi Research report accused the company of inflating user numbers. Grindr denied comment on both the buyout and the allegations. Despite the volatility, the company’s Q2 revenue rose 27% YOY, and CEO George Arison has announced plans to expand AI-driven features and telehealth services such as Woodwork, its ED medication platform.
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