Dating App Grindr Is Going Public Via SPAC Deal
Ivan Radic/Flickr

Dating App Grindr Is Going Public Via SPAC Deal

Queer dating app Grindr is planning to go public by merging with a Singapore-based blank-check company in a deal that would value the company at roughly $2.1 billion.


West Hollywood-based Grindr said Monday that it has agreed to merge with Tiga Acquisition Corp., a special purpose acquisition company (SPAC) trading on the New York Stock Exchange. Grindr plans to raise at least $384 million from the transaction, with plans to use the funds to pay down debt and further grow its business.

Since launching in 2009, Grindr has grown to around 11 million monthly active users globally, roughly 80% of whom are under 35 years old. The app, which is free to download on iOS and Android devices, has emerged as the queer community’s most popular answer to the Match Group-owned Tinder, which caters primarily to straight singles. Grindr does compete with other queer dating apps including HER, mainly used by lesbian women; Lex, for queer users; and Feeld, an app for polyamorous connections.

Grindr said it generated $147 million in revenue last year, a 30% increase from the year prior. That revenue growth was fueled by an increase in the number of users paying for the app’s premium subscription, which totaled 723,000 at the end of 2021—up 31.5% year-on-year.

Grindr is pursuing a SPAC merger despite a sharp slowdown in SPAC deals amid heightened regulatory scrutiny, as well as a wider stock market correction that has pumped the brakes on IPO deal volume this year. Still, SPAC deals remain a quicker way for companies to list on public markets by side-stepping much of the regulatory red tape around traditional IPOs.

The app recently came under fire after a Wall Street Journal article exposed Grindr’s years-long practice of selling users’ precise location data to the highest bidder—a practice that runs the risk of outing some users’ sexuality and compromising their safety. The company countered the report by claiming it had implemented new privacy policies to prevent the sharing of “precise location” data.

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“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

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Sam Blake

Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake

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