Grindr, a courting app that specialize in connecting folks within the LGBTQ+ neighborhood, introduced Monday that it’s going to develop into a public corporate amid an settlement to merge with Tiga Acquisition Corp (TAC), a unique goal acquisition corporate.
The deal values the mixed corporate at an estimated $2.1 billion. The industry aggregate with TAC will carry an estimated $384 million, which Grindr mentioned will probably be used to repay debt and fund long run expansion.
“Bringing Grindr to the general public markets with TAC furthers our challenge to attach the LGBTQ+ neighborhood,” mentioned James F. Lu, Chair of Grindr’s Board of Administrators. “This transaction is a milestone match, now not just for our iconic corporate, our folks, companions, and buyers, but in addition for the neighborhood we serve world wide.”
10.8 million folks used Grindr every month in 2021, in step with the corporate, and 80 p.c of its customers had been below 35 years previous.
