Grindr CEO Keeps the Faith in SPACs Despite His Disappointments

George Arison, CEO of Grindr Inc., is a steadfast believer in special-purpose acquisition companies, despite the recent uninspiring performances of the vehicles after they go public.

Shares in the dating app that specializes in connections for the LGBTQ+ community have slumped 47% since it merged with a SPAC in November. Shift Technologies Inc., the auto e-commerce marketplace Arison is chairman of after co-founding, saw an even more spectacular slump, wiping out 98% of its value from an October 2020 blank-check tie-up.

And yet, Arison still sees SPACs as a “viable way for smaller companies to go public,” ...