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Grindr's biggest investors are billionaires on stock surge

Bloomberg
Bloomberg11/20/2022 12:14 PM GMT+08  • 3 min read
Grindr's biggest investors are billionaires on stock surge
Grindr’s shares jumped as high as US$71.51 on Friday before retreating to US$36.50 at the end of regular trading in New York. Photo: Bloomberg
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Shares of Grindr Inc. more than tripled Friday after the dating app closed its merger with a blank-cheque 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 US$2.6 billion ($3.57 billion), according to the Bloomberg Billionaires Index. Zage founded blank-cheque 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 US$2.1 billion.

Grindr’s shares jumped as high as US$71.51 on Friday before retreating to US$36.50 at the end of regular trading in New York. That’s still up more than 210% from Tiga’s closing price Thursday.

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