Grindr’s CEO resigns amid his bid to take the company private

West Hollywood-based queer dating app Grindr could soon go private after its board chairman submitted a buyout bid and resigned from his position.

James Lowe, who served on the Grindr board for more than five years, said last week that he was stepping down to focus on personal business pursuits. In October, Lowe and fellow board member Ray Zieg proposed to take Grindr private in a nearly $3.5 billion deal.

Lowe and Zeige together own 60% of Grindr’s outstanding shares and offered to buy the rest for $18 each in cash. Shares were worth about $15 in midday trading on Monday.

“My decision to resign from the board is not a reflection of my views on Grindr,” Lowe wrote in a letter to board members announcing his resignation. “I am optimistic about Grindr’s long-term prospects, as demonstrated by the offer and my desire to take the company private to focus on and execute on business growth opportunities.”

Luo and Zieg said they are keen to close the deal in the first few months of 2026. The pair led the company’s initial public offering in November 2022.

The board formed a special committee in October to respond to the unsolicited private proposal. Manhattan Beach-based sneaker company Skechers and Los Angeles-based fashion brand Guess were also taken private this year.

“There can be no assurance that this proposal will result in a transaction or any other strategic outcome,” Grindr said in an Oct. 24 statement.

Grindr posted its latest earnings last week, reporting total revenue of $116 million for the third quarter, a 30% year-over-year increase. The company’s quarterly net income was $31 million.

Grindr executives said 2025 was the most successful year in the company’s history in terms of profit and engagement growth. Mainstream dating apps, including Tinder and its parent company MatchGroup, are struggling to retain users.

Meanwhile in Los Angeles, a group of dating app startups have flocked to the market and hope to win over users with creative approaches to online dating.

Shares of Grindr are down more than 15% this year.

In his letter to board members, Lowe said his purchase offers valuable shares “at a significant premium to shareholders.”