Here's your Forbes daily briefing for Thursday, October 30th.

Today on Forbes, Grindr shares soar as billionaire owner's buyout offer

values dating app at $3.5 billion.

The New York listed shares of Grindr jumped the most in three years

after billionaire George

Raymond Zage III and James Liu, the company's majority owners, offered to buy out the

minority shareholders in a deal valuing the LGBTQ dating app at $3.5 billion.

Grindr shares climbed 18.9 percent to $15.6 at the close of trading in New York

on Friday, October 24th. Since then, shares hovered just under $15 this past week.

Zage and Lou offered to buy the rest of the company at $18 a share, a 51% premium to the stock's price on October

10th, before the majority shareholders disclosed plans to take the company private,

according to a statement on October 24th.

The offer is also 20% above the minimum price of $15 that the duo had planned to make.

Zage said, quote, We are strong believers in the long-term outlook for the company.

I have been a consistent buyer of shares in Grindr since listing,

buying over 200 million shares on the public market,

and am also willing to contribute additional equity to this deal.

Zage, who successfully oversaw the Asian Division of U.S. hedge fund Farallon Capital Management,

before setting up Singapore-based Tiga investments in 2017, said equity and debt investors

have expressed interest to participate in this deal. The majority shareholders

disclosed earlier in October that they have raised $1 billion in preliminary and conditional

debt financing. Lou, the chairman of Grindr, said, quote, we are pleased to submit this

...