Grindr Stock Surges 200% After Going Public!

Grindr stock has risen significantly since it went public, going up over 400% on Friday.

The world's top LGBTQ+ platform decided to apply for an IPO not too long ago, in March.

On Friday, the dating app announced its plans to merge with acquisition of Tiga Acquisition Corp, a special purpose acquisition company.

Grindr Inc. debuted on the New York Stock Exchange that same day under the symbols "GRND" and "GRND.WS."

"Today is a very important day in our company. It marks a milestone that is not only important for the team, but also for the LGBTQ community we serve." - Grindr's CEO said.

It's been reported that shares of dating app started at $16.90 and reached a high of $71.51 in the first day of trading, according to MarketWatch.

The stock closed at $36.50, a 214% increase compared to Thursday, the last trading session before the merger.

Grindr, which launched in 2009, now reports roughly 11 million daily users per day.

Last quarter, our users sent 260 million messages and spent an average of 61 minutes on the app per day.

In their announcement, Grindr estimated their highly engaged user base (which is in a large, untapped market) at $4 billion.