Trust Size
$275M
Peak Price
$80.00
Current Price
$14.00
Return
+40.0%
Peak Market Cap
$10.0B
What Happened
LGBTQ+ dating app went public via SPAC and actually succeeded. Stock hit $80 before settling around $14. One of the rare SPAC winners with a real monopoly-like market position.
Grindr merged with Tiga Acquisition Corp in November 2022 — relatively late in the SPAC cycle. The company is the dominant LGBTQ+ dating app globally with ~14 million monthly active users. Unlike most SPACs, Grindr had a real product, real users, real revenue, and a near-monopoly position. The stock spiked to $80 on limited float before settling to a more rational $14 range. Revenue grew from $200M to $300M+, with actual profitability. One of the few legitimate SPAC success stories.
Projections vs. Reality
Projected Revenue
$350M
What they told investors
Actual Revenue
$305M
What actually happened
Hype-to-Reality Ratio: 87.0x
Key People
George Arison
CEO
Former Shift Technologies CEO, turned Grindr profitable
Raymond Zage
SPAC Sponsor (Tiga)
SE Asian investor
Timeline
2022-05
SPAC merger announced
2022-11
Merger completed
2023-01
Stock hits $80 on low float
2024-01
Revenue exceeds $300M
2025-01
Stable survivor at ~$14
📄 SEC Filings
View all EDGAR filings for Grindr Inc
Risk Scores
Dilution Score
35/100
Insider Profit Index
30/100
Hype-to-Reality Ratio
87.0x
Projected ÷ actual revenue