Grindr Jumps Most in 15 Months After Report of Buyout Talks
Shares of Grindr jumped as much as 16%.
Photographer: Leon Neal/Getty Images
Grindr Inc. shares jumped the most in more than 15 months on Monday after Semafor reported that insiders at the LGBT-focused dating app company are discussing taking it private.
Raymond Zage and James Lu, who together own more than 60% of the company, are in talks to secure debt financing from Fortress Investment Group LLC to acquire Grindr, Semafor reported on Monday, citing unnamed people familiar with the matter. Zage and Lu have discussed a buyout price of around $15 a share, some of the people said, which would value the firm at around $3 billion, Semafor reported. The company had a market capitalization of about $2.3 billion as of Friday’s close.