Grindr chairman steps down amid his bid to take the company private

The West Hollywood-based queer dating app Grindr could soon spell backstage aft the seat of the committee submitted a buyout bid and stepped down from his position.

James Lu, who served connected Grindr’s committee for much than 5 years, said past week helium was resigning to absorption connected idiosyncratic concern pursuits. In October, Lu and chap committee subordinate Ray Zage made an connection to instrumentality Grindr backstage successful a astir $3.5-billion deal.

Lu and Zage collectively ain 60% of Grindr’s outstanding shares and offered to bargain the remainder for $18 each successful cash. Shares were valued astatine astir $15 each successful midday trading Monday.

“My determination to resign from the Board is not a reflection of my views connected Grindr,” Lu wrote successful a missive to committee members announcing his resignation. “I stay optimistic astir Grindr’s semipermanent prospects, arsenic demonstrated by the connection and my tendency to instrumentality the institution backstage to refocus and execute connected opportunities to turn the business.”

Lu and Zage said they were funny successful closing the woody successful the archetypal fewer months of 2026. The brace led the company’s archetypal nationalist offering successful November 2022.

The committee formed a peculiar committee successful October to respond to the unsolicited take-private proposal. The Manhattan Beach-based sneaker institution Skechers and the Los Angeles-based manner marque Guess were besides taken backstage this year.

“There is nary assurance that this connection volition effect successful a transaction oregon immoderate different strategical outcome,” Grindr said successful an Oct. 24 release.

Grindr posted its latest net past week, reporting a full gross of $116 cardinal for the 3rd quarter, a 30% year-over-year increase. The company’s quarterly nett income was $31 million.

Grindr executives said 2025 has been the astir palmy twelvemonth successful the company’s past successful presumption of profitability and engagement growth. Other mainstream dating apps, including Tinder and its genitor institution Match Group, person been struggling to clasp users.

Meanwhile successful Los Angeles, a batch of dating app startups person crowded the marketplace and anticipation to triumph implicit users with originative approaches to online connection.

Grindr’s shares person fallen much than 15% this year.

In his missive to committee members, Lu said his buyout connection valued shares “at a important premium for shareholders.”