WALL STREET JOURNAL – Grindr, a dating app best known for facilitating hookups between gay men, wants to get more into dating. The app is planning to add several new features aimed at helping its users, who are primarily gay and bisexual men, match up with others with the same intentions, from short-term sexual encounters to long-term relationships. The additions include using AI to identify users with shared interests. Grindr shares are up 17% this year, while Match is down 17% and Bumble has lost nearly a third of its value. This week, Grindr raised its revenue outlook for the year to ~25% growth from ~23% growth. It also forecasts between 20% and 25% annual revenue growth through 2027, equating to ~$600M in 2027 from ~$260 million in 2023.
Category: Grindr
Dating Apps’ Hidden Money-Making Strategies, Explained
WALL STREET JOURNAL – The $5B dating app industry is largely dominated by Match Group. But downloads across the industry are falling. Here’s how some apps are shifting to stay competitive, with features that go beyond just dating. Video featuring Mark Brooks, CEO of Courtland Brooks; Shahzad Younas, CEO of Muzz; George Arison, CEO of Grindr; and Whitney Wolfe Herd, Founder of Bumble.
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Inside the Grindr App Relaunch
CITY A.M. – Grindr's app relaunch aims to expand beyond casual dating while still emphasizing hookups. Despite recent controversies and lawsuits, Grindr introduces free STI testing kits delivered to users' homes, aiming to remove barriers to testing and promote sexual health. VP of Brand Tristan Piñeiro emphasizes maintaining simplicity while adding versatility to the app's functionality. New features include the Roam feature for planning meet-ups while traveling and potential expansions into holiday booking and healthcare services.
Grindr Celebrates Pride With Cross-country ‘Grindr Rides America’ Bus Tour
Grindr’s Chief Privacy Officer on the Dating App’s Data Controversies
Grindr to Open Its Largest Engineering Hub in Chicago
AUDACY – Grindr is planning to open what will be its largest global engineering hub in Chicago's Loop. Grindr is initially planning to have 50 employees at the engineering center. As the company grows, that number could increase. Grindr's headquarters are in Los Angeles, but the majority of its engineers are in Chicago.
Tinder and Bumble to Explore New Avenues Amidst Revenue Challenges
by Alex Webb
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Grindr Q1 Financial Results
GRINDR – In Q1, Grindr saw a 35% revenue increase to $75M, an operating income of $19M, a net loss of $9M, and a 17% rise in paying users, driven by the success of the XTRA Weekly subscription. Grindr CEO George Arison sits down with Caroline Hyde from Bloomberg to discuss the Q1 results and the controversy surrounding data privacy on the dating platform.
Grindr CEO Urges Caution Over Giving out Personal Data on the App
FINANCIAL TIMES – Grindr's CEO, George Arison, has advised users to be careful with their personal information on the app, especially after a UK political scandal where Tory MP William Wragg was caught in a honeytrap after sharing private images. Arison emphasized the importance of discretion, noting that while Grindr offers features like expiring photos to protect privacy, users must manage their own safety. This warning comes amid a lawsuit accusing Grindr of improperly sharing sensitive data, including HIV status. Arison reassured that Grindr avoids sharing user details for advertising, affecting revenue but ensuring safety.
by Cristina Criddle & Hannah Murphy
See full article at Financial Times
Grindr Sued for Allegedly Revealing Users’ HIV Status
BBC – Grindr is facing a lawsuit in the UK High Court for allegedly sharing sensitive user information, including HIV status, with third parties without consent. The claim involves ~650 claimants who may receive significant damages if successful. Grindr has been accused of using "covert tracking technology" to illegally provide advertisers with highly personal data, such as ethnicity and sexual orientation, primarily before Apr 2018. The company has responded, stating the allegations misrepresent past practices discontinued over four years ago and maintains it takes user privacy seriously. This legal action follows a 2021 GDPR fine by Norwegian authorities and a reprimand by the UK's Information Commissioner's Office for insufficient privacy protections.
by Tom Singleton & Imran Rahman-Jones
See full article at BBC