Grindr’s owners may take it private after a financial squeeze amid stock and loan troubles.
Matilda
Grindr Owners Plan Private Takeover Grindr’s Owners May Take It Private After A Financial Squeeze A potential major shift is underway as Grindr’s owners may take it private after a financial squeeze that’s put pressure on the company’s leadership. Reports suggest that the move comes amid stock struggles and personal loan complications tied to the LGBTQ+ dating app’s majority stakeholders. Image Credits:Leon Neal Financial Turmoil Hits Grindr’s Majority Owners According to a recent report by Semafor , Raymond Zage and James Lu — who jointly control over 60% of Grindr — are now seeking ways to regain control of the platform privately. Both executives had pledged nearly all their Grindr shares as collateral for personal loans from a subsidiary of Singapore’s sovereign wealth fund, Temasek. When Grindr’s stock began sliding at the end of September, the value of those pledged shares dropped below the loan amount. This forced Temasek’s unit to seize and sell a portion of their holdings, triggering a financial squeeze that now has t…
