Grindr, a dating app that specializes in connecting people in the LGBTQ + community, announced this on Monday will become a public company against the background of a merger agreement with Tiga Acquisition Corp (TAC), a special purpose vehicle.

The deal is valued at $ 2.1 billion. The business combination with TAC will raise approximately $ 384 million, which Grindr says will be used to repay debt and finance future growth.

“Bringing Grindr to public markets with TAC supports our mission to connect the LGBTQ + community,” said James F. Lou, chairman of Grindr’s board of directors. “This transaction is an important event not only for our iconic company, our people, partners and investors, but also for the community we serve around the world.”

10.8 million people used Grindr every month in 2021, according to the company, and 80% of its users are under the age of 35.

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