Grindr stock doubles on New York Stock Exchange debut


Grindr New York Stock Exchange
Image: Grindr Instagram

Grindr representatives rang the bell to commence trade Friday at a New York Stock Exchange decorated with Pride Flags and a giant Grindr banner out the front.

Also at the front of the New York Stock Exchange building on Wall Street, a rainbow stage featuring drag performers.

The celebration marked Grindr’s debut on public markets following a recent merger.

Grindr shares, under the ticker GRND, soared to a high of $71.51. By close, the shares settled at $36.50, double the opening price of $16.90.

Grindr announced its merger with Tiga Acquisitions in May. Tiga is a ‘Spac’ — a listed vehicle designed to acquire companies and take them public.

Wouldn’t have happened 10 years ago

Grindr CEO George Arison said the public listing of a primarily LGBTQ company couldn’t have happened in the past.

“It’s a pretty incredible thing that the company whose primary user base is gay and bisexual men, built by and for the LGBTQ population, with an employee base that is heavy in that cohort of the population as well, is now going public.

“It’s not something that would not have happened 20 years ago, probably wouldn’t have happened even 10 years ago.”

The social media response was mixed. Some celebrated: “Yay, rainbow capitalism.”

But others remained unimpressed.

“More reasons not to pay for their absurd subscription,” said one.

Another complained: “Please sort your app out, that crashes every five seconds!”

Some suggested Grindr could offer some assistance to a ‘plummeting media app now owned by a billionaire.’ 😲Chirpy chirpy, cheep cheep, chirp!

For the latest lesbian, gay, bisexual, transgender, intersex and queer (LGBTIQ) news in Australia, visit qnews.com.au. Check out our latest magazines or find us on Facebook, Twitter, Instagram and YouTube.

Destiny Rogers

Destiny Rogers embarked on her career in the media industry immediately after high school, initially joining Mirror News, which later evolved into News Ltd. She fondly recalls editing Ian Byford's 'Passing Glances: A History of Gay Cairns' as one of her most fulfilling projects. Additionally, Destiny co-researched and co-wrote 'The Queen's Ball', chronicling the history of the world's longest-running continuous queer event. Her investigative work on the history of Australia's COON Cheese and Edward Coon culminated in the publication 'COON: More Holes than Swiss Cheese', a collaborative effort with Dr. Stephen Hagan. Destiny's journey at QNews began as a feature writer, and she was subsequently elevated to the role of Managing Editor of QNews Magazine in 2018. However, in July 2022, she decided to resign from this role to refocus on research and feature writing. For contact, please reach out at destinyr@qnews.com.au.

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