Shares of Grindr Inc. more than tripled Friday after the dating app closed its merger with a blank-check company, giving two investors stakes worth billions, at least on paper.
G. Raymond Zage III, a former partner at hedge fund Farallon Capital, owns a stake worth more than $2.6 billion, according to the Bloomberg Billionaires Index. Zage founded blank-check company Tiga Acquisition Corp. in 2020. Tiga agreed to acquire Grindr, which is popular in the LGTBQ+ community, in May at a deal that valued it at about $2.1 billion.
