Grindr, a dating app specializing in connecting people in the LGBTQ+ community, announced Monday that it will become a public company amid an agreement to merge with Tiga Acquisition Corp, a special-purpose acquisition company.
The deal values the combined company at an estimated $2.1 billion. The business combination with Tiga will raise an estimated $384 million, which Grindr said will be used to pay off debt and fund future growth.
"Bringing Grindr to the public markets with TAC furthers our mission to connect the LGBTQ+ community," said James F. Lu, chair of Grindr's board of directors.
in 2021, 10.8 million people used Grindr each month , according to the company, and 80% of its users were under 35 years old.