Gay dating app Grindr said on Monday it would go public through a merger with a blank-check acquisition firm - a deal that values it at $2.1 billion and features Tiga Investments CEO Raymond Zage on both sides of the transaction.
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Grindr said its existing shareholders would own 78% of the company after the merger, which comes two years after China's Kunlun Tech divested it for $620 million due to US national security concerns.
While Grindr did not disclose the identities of its existing shareholders, Reuters previously reported that Zage had a 41% stake in the consortium that acquired Grindr. A source familiar with the matter said on Monday that Zage continues to be an investor in Grindr.
