Grindr, the infamous gay dating app, debuted on the New York Stock Exchange this week. And soared.
NPR reported that the app’s stock rose more than 400% in initial trading.
Grindr CEO George Arison said, “Today marks an important milestone not only for the team at Grindr, but for the LGBTQ community we serve. We enter the public markets with momentum, carried by our market leadership, strong financial performance and significant growth runway as we step up investment in our core product and services.”
Grindr bills itself as “the world’s largest social network for the LGBTQ community.” Its stock symbol is GRND. It launched in 2009.
NPR reported that the stock debuted at $16.90 at 9:30 a.m. and hit a high of $71.51 before midday. The stock closed at $36.50 on Monday.