Benzinga · May 9, 2022
LGBTQ Social Media Platform And Dating App Grindr Lands SPAC Deal: What Investors Should Know
A leading social media platform and dating company with a target demographic announced a SPAC deal after market close Monday. The SPAC Deal: Grindr announced a SPAC merger with Tiga Acquisition Corp (NYSE: TINV). The deal values the company at an enterprise value of $2.1 billion. Tiga Acquisition Corp. public shareholders will own 14% of the company after the merger closes, assuming no redemptions at the merger vote. About Grindr: The No. 1 social network for LGBTQ+, Grindr calls itself essential to its target demographic. The company has 85% brand awareness, according to its presentation. One area the company highlighted was an average of 61 minutes spent on its platform daily by users, which ranks higher than dating ...
