WEST HOLLYWOOD: Dating and social networking app Grindr Inc. (NYSE: GRND), often called “the Global Gayborhood in Your Pocket™,” confirmed Friday it has received a non-binding, unsolicited proposal from its largest shareholders, Ray Zage and James Lu, to take the company private.
The offer prices the company at $18.00 per share in cash, a premium that will likely be scrutinized by investors. Together with their affiliated entities, the Proposing Shareholders already beneficially own a controlling stake of more than 60% of Grindr’s outstanding common stock.
In response to the proposal, Grindr’s Board of Directors—which had already formed a Special Committee of disinterested and independent directors on October 14, 2025, anticipating such interest—is now actively reviewing the offer.
“The Special Committee, in consultation with its legal and financial advisors, is reviewing the unsolicited take-private proposal and will be evaluating the best path forward for all shareholders,” said Chad Cohen, Chair of the Special Committee, in a statement.
The Special Committee has retained J.P. Morgan Securities LLC as its financial advisor and Vinson & Elkins LLP as its legal counsel to navigate the complex transaction.
While the offer represents a significant move, the company cautioned that there is “no assurance that this proposal will result in a transaction or any other strategic outcome.”
Grindr emphasized that it will not comment further unless and until additional disclosure is deemed necessary. In the meantime, the company insists it remains focused on “continuously delivering strong execution” and serving its “distinctive user base,” highlighting the app’s “vital importance” in their day-to-day lives.
The proposal comes as investors keep a close eye on the social networking space, where controlling shareholders often look to consolidate power or execute turnarounds away from the pressures of the public market.