Grindr, the world’s most popular gay dating app, announced in May that it would be going public after a merger with SPAC Tiga Acquisition. The deal is set to close and be complete by the end of this year.
Grindr will be listed on the New York Stock Exchange under the name Grindr Inc, after regulatory stockholder approval has taken place.
Before getting involved with a SPAC, the platform was worth USD $1.6 billion, but is now worth an estimated USD $2.1 billion, according to Capital.com.
Some details show Grindr to be a hot prospect for investing. In 2021, 723,000 out of its 10.8 million active user base were paying customers, a 30% increase from 2020. Additionally, the platform forecasted a rise in revenue growth between 35%-40% in 2022.
However Capital.com warns that the company has also faced controversy after reportedly selling location data to advertisers, leading to fines and a change in policy.