Filed by Tiga Acquisition Corp.
pursuant to Rule 425 under the Securities Act of 1933,
as amended, and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company: Tiga Acquisition Corp.
Commission File No. 001-39714
Date: September 13, 2022
Bloomberg: Grindr Names George Arison CEO as it Readies Public
Debut
By Michael
Tobin
September 13,
2022
(Bloomberg) — Grindr LLC, the dating app that
specializes in connections for the LGBTQ+ community, has named
George Arison its new chief executive officer, fulfilling a
pledge to appoint someone who identifies with that group to
lead the company as it prepares to go public.
Arison, 44, is the
co-founder and former CEO of auto e-commerce marketplace Shift
Technologies Inc. He will start at Grindr on Oct. 19 and
shepherd the company through the process of listing on the
stock market through a special purpose acquisition company
later this fall.
Grindr also named
Vanna Krantz as its new chief financial officer. Krantz is the
current CFO of transportation and payments company Passport
Labs Inc., and she previously served in that role at Disney
Streaming Services. Krantz will begin at Grindr Sept. 26. The
appointments are part of a previously announced transition
that will see current CEO, Jeff Bonforte and CFO, Gary Hsueh
step down and move into advisory roles with the company.
“All of us on the
small team that acquired Grindr in June 2020 understood that
it had the potential to be an amazing business, wholly focused
on serving the LGBTQ+ community,” Bonforte said in a
statement. “Key to the plan was finding long term leadership
for the business that had not only deep professional
experience, but also the life experience to understand the
unique and very real challenges facing the global LGBTQ+
community.”
Rivals like Match
Group Inc. app, Tinder and Bumble Inc. are LGBTQ+ friendly,
but Grindr is the biggest and most well-known app within the
community. It has more than 11 million active users, with
almost 80% of them under 35. The company agreed to go public
via a SPAC in May at a $2.1 billion valuation
despite unfavorable market conditions among technology stocks
and blank- check companies. The deal will see Grindr merge
with blank-check firm Tiga Acquisition Corp. Arison also
helped Shift go public via a SPAC in 2020.
Earlier this year,
Arison was planning to take some rest time to rest and think
about starting another company after leaving Shift. He didn’t
think he would be taking another CEO job after running Shift
for nine years. But he changed his mind.
“The mission at
Grindr is so powerful for the sets of people I’ve been a part
of and I’ve seen the power of that from the friendships I’ve
built with people I’ve met” on the platform, Arison said in an
interview.
Arison said his
previous experience taking a private company public taught him
about the importance of being clear and realistic about
setting goals and financial projections.
“We’ll approach that
differently because from the beginning it’s going to be really
crucial, and having those financial forecasting capabilities
is really important,” he said.
About Grindr
With roughly 11 million monthly active users in virtually every
country in the world in 2021, Grindr has grown to become a
fundamental part of the queer community since its launch in 2009.
The company continues to expand its ecosystem to enable gay, bi,
trans, and queer people to connect, express themselves, and
discover the world around them. Grindr is headquartered in West
Hollywood, California. The Grindr app is available on the App Store
and Google Play.
Forward Looking Statements
This document may contain a number of “forward-looking statements.”
Forward-looking statements include information concerning Grindr’s
possible or assumed future results of operations, business
strategies, competitive position, industry environment, and
potential growth opportunities, including any potential benefits
that may be realized as a result of new members of management.
These forward-looking statements are based on Grindr’s management’s
current expectations, estimates, projections and beliefs, as well
as a number of assumptions concerning future events. When
used in this press release, the words “estimates,” “projected,”
“expects,” “anticipates,” “forecasts,” “plans,” “intends,”
“believes,” “seeks,” “may,” “will,” “should,” “future,”
“propose” and variations of these words or similar
expressions (or the negative versions of such words
or expressions) are intended to identify forward-looking
statements. These forward-looking statements are not guarantees of
future performance, conditions or results, and involve a number of
known and unknown risks, uncertainties, assumptions and other
important factors, many of which are outside Grindr’s
management’s control, that could cause actual results to differ
materially from the results discussed in the forward-looking
statements. These risks, uncertainties, assumptions and other
important factors include, but are not limited to: (a) the
inability to complete the proposed business combination due to the
failure to obtain shareholder approval or other conditions to
closing; (b) the risk that the proposed business combination
disrupts current plans and operations of Grindr; (c) the
ability to recognize the anticipated benefits of the proposed
business combination, which may be affected by, among other
things, competition, the ability of the combined company to
grow and manage growth profitably, maintain relationships with
customers and suppliers and retain its management and key
employees; (d) costs related to the proposed business combination;
(d) changes in applicable laws or regulations; (e) the possibility
that Grindr may be adversely affected by other economic,
business and/or competitive factors; and (f) the ability to
implement business plans, forecasts, and other expectations after
the completion of the proposed transaction, and identify
and realize additional opportunities.
The foregoing list of factors is not exhaustive. You should
carefully consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the
registration statement on Form S-4 and other documents filed
by Tiga Acquisition Corp. (NYSE: TINV) from time to time with
the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and
results to differ materially from those contained in the
forward-looking statements. You are cautioned not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Except as required by law, Grindr
undertakes no obligation to update or revise its forward-looking
statements to reflect events or circumstances after the date of
this release.
No Offer or Solicitation
This
communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a
solicitation of any vote or approval, nor shall there be any sale
of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
For more
information please contact:
For Grindr Communications and Investor Relations:
Patrick Lenihan
Patrick.Lenihan@grindr.com
Investors:
Ellipsis
Jeff Majtyka
IR@grindr.com
Media:
TrailRunner
International
Lexi Schuchert
Press@grindr.com