Why Grindr’s largest shareholders want to take the company private

Core Viewpoint - Grindr's largest shareholders are exploring the possibility of taking the company private again after a significant stock price decline since its public listing in 2021 [1][2]. Shareholder Actions - Raymond Zage and James Lu, who control over 60% of Grindr's shares, are in discussions with Fortress Investment Group to acquire Grindr at $15 per share, while the stock closed at $12.72 on October 15 [2][3]. - A committee of independent directors has been established to evaluate any potential buyout offers due to the shareholders' significant control and board positions [3]. Stock Performance - Grindr's stock reached a peak of $24.73 per share in June 2023 but has since declined by 12%, with a 3% drop since early September [4][5]. - The decline in stock price was influenced by a report from Ningi Research alleging that Grindr is manipulating user numbers and diluting its core experience [5].