Topline
Shares of Grindr were up as much as 11% on Monday afternoon after Semafor reported shareholders are considering taking the company private in a deal that would value the LGBTQ dating app at $3 billion.
The Grindr app logo.
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Key Facts
Raymond Zage and James Lu, majority shareholders in Grindr, are seeking to take the company private after Temasek, a private lender which made personal loans to at least one of the two men, reportedly seized some shares last week and sold them.
Grindr’s owners are now in a “precarious personal financial position,” Semafor reported, and are discussing a buyout price of up to $15 per share, which would value the company at around $3 billion.
Shares were trading at $13.18 as of just after 1:45 p.m. EDT on Monday, up 10.2% on the day.
This is a developing story and will be updated.
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