Grindr’s majority owners are scrambling to take the LGBTQ+ dating app private after a stock decline triggered a personal financial crisis, according to a report from Semafor .

The owners in question are Raymond Zage, a former hedge fund manager and U.S. expat now based in Singapore, and James Lu, a Chinese-American entrepreneur and former Amazon and Baidu exec. Together they led the 2020 acquisition of Grindr from Chinese ownership for over $600 million, then took the app public in 2022 through a blank-check merger .

Reportedly, Zage and Lu, who together control more than 60% of Grindr, pledged nearly all their shares as collateral for personal loans from a unit of Singapore’s sovereign wealth fund Temasek. After Grindr began a slide at the end of September, those loans became unde

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