Grindr Chair Steps Down as Shareholders Move to Take Company Private

Grindr’s board chair, James Fu Bin Lu, has resigned as the company enters discussions over a proposal to take the LGBTQ dating app private. The move comes as Lu, alongside investor George Raymond Zage III, has offered to acquire the remaining shares they do not already own. Together, the pair control about 60% of Grindr’s outstanding stock. This resignation comes not long after Fu Bin Lu sold his $13.15 million worth of shares.

In a letter to the board, the investors proposed paying $18 per share in cash, valuing the company at nearly $3.5 billion. Lu, who has served as chair since 2020 and helped steer the platform through its public debut in 2022, described the offer as “a significant premium for shareholders.” His resignation is intended to remove governance conflicts while negotiations proceed. “This decision today will allow me to focus on pursuing the proposal with the board’s Special Committee,” Lu said. He added that the goal is to finalize a deal in the early months of 2026.

The bid comes during a period of relatively strong performance for Grindr compared to many other dating platforms. The company reported nearly $116 million in revenue for the third quarter of 2025, an increase of about 30% year over year. Executives say the platform is on track to meet or exceed its full-year revenue growth target of 26%. Improved profitability has been driven by growing engagement and product expansion, particularly features designed to help LGBTQ travelers navigate new cities and communities.

This contrasts with trends seen elsewhere in the dating app market. Leading competitor Tinder has been facing declining engagement, with its parent company reporting the loss of 400,000 paid users in the second quarter of 2025. Industry-wide usage has fallen as well; research from the UK’s communications regulator found that engagement across the ten largest dating apps dropped 16% between 2023 and 2024.

Grindr’s leadership attributes its resilience to a highly active user base and new monetization features. “Our MAU, paying user and ARPPU growth, combined with strong engagement metrics, demonstrate that our community is embracing the significant innovations we have built into the Grindr app over the past three years,” CEO George Arison said.