Insiders at dating app Grindr are discussing taking it private after a share slump put its top owners in a tight personal financial position, Semafor reported on Monday, citing people familiar with the matter.<\/p>\n
Grindr shares jumped more than 10 per cent following the report. They have lost about 26 per cent so far this year.<\/p>\n
Raymond Zage and James Lu, who control majority of Grindr, are in talks to secure debt financing from Fortress Investment Group to acquire the dating app, the report said.<\/p>\n
Zage and Lu have discussed a buyout price of around $15 per share, the report said, adding that the number could change. A deal at that price would value Grindr at around $3 billion.<\/p>\n
The talks have accelerated after a unit of Temasek, having extended personal loans to at least one of Grindr’s owners secured by their holdings, seized some of those shares last week and sold them, Semafor reported.<\/p>\n
Both Grindr and Fortress Investment Group declined to comment on Reuters’ requests.<\/p>\n
Originally owned by Beijing Kunlun Tech, Grindr was sold to San Vicente Acquisition LLC for more than $600 million in 2020 after the U.S. Committee on Foreign Investment raised national security concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"Insiders at dating app Grindr are discussing taking it private after a share slump put its top owners…\n","protected":false},"author":2,"featured_media":223292,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[165,74],"class_list":{"0":"post-223291","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-mobile","9":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/223291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=223291"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/223291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/223292"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=223291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=223291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=223291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}