What Happened to Grindr?
Ticker: GRNDSPAC Year: 2022Merger: 2022
Return
+40.0%
Current Price
$14
Peak Price
$80
Trust Size
$275M
Summary
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.
What Happened
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.
Key People
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