Grindr's Former Board Chair Sells 1.45M Shares After Buyout Negotations End

Core Insights - Grindr was close to going private after majority owners sought to remove it from the public market, but discussions ended and one owner sold shares [1][6] Transaction Summary - Majority owner James Lu sold 1.45 million shares of Grindr for a total transaction value of $14.6 million [2] - Post-transaction, Lu holds only 4,455 shares directly, while indirect holdings are reduced to 18,432,101 shares [2][8] Company Overview - Grindr Inc. operates a social networking and dating app for LGBTQ communities, utilizing a dual revenue model of advertising and premium subscriptions [5] - As of February 14, 2026, Grindr's market capitalization is $1.86 billion, with a revenue of $411.55 million and a one-year price change of -45.54% [4] Recent Developments - Lu and fellow majority owner Raymond Zage previously proposed a buyout at $18 per share, significantly above the current price, but negotiations were terminated due to financing concerns [6][9] - The company is under investigation for potential breaches of fiduciary duties related to the termination of buyout negotiations [9] Subscription Service Pilot - Grindr is testing a new subscription service called "Edge," which offers AI-powered features, with proposed prices reaching as high as $499, significantly higher than its current highest subscription of $44.99 [9][10]