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The Guardian - UK

Business

Mark Sweney

Gay dating app Grindr to float in $2.1bn deal

Grindr CFIUS SPAC United States

Grindr app on a mobile phone — Grindr launched in 2009 and specialises in dating among the LGBTQ+ community. Photograph: Aly Song/Reuters

Grindr plans to float through a merger with a so-called Spac investment company in a deal that values the gay dating app at $2.1bn (£1.7bn).

The app will receive $384m as part of the deal with Tiga Acquisition Corp (TAC), the Singapore-based special purpose acquisition company (Spac) – also known as a “blank cheque” shell company that raises money first and seeks businesses to buy later.

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