BLOOMBERG LAW – Grindr employees will vote on unionization later this month. National Labor Relations Board (NLRB) Regional Director Mori Rubin ruled Tuesday that the group of ~100 employees can vote on whether they want to be represented by the Communications Workers of America.
Category: Grindr
Grindr Reports Q3 2023 Revenue Growth of 39%
PRESS RELEASE – Grindr reported a significant increase in its Q3 revenue for 2023, reaching $70.3M, a 39% growth from the previous year. Despite this revenue boost, the company experienced a marginal net loss of $0.4M. The company's operating income stood at $16.6M with an Adjusted EBITDA of $32.6M. Based on these strong financial results, Grindr has raised its forecast for FY 2023, expecting over 31% revenue growth and an Adjusted EBITDA Margin of ~41%.
Grindr Appoints Tolu Adeofe as New Director of Investor Relations
INVESTING – Tolu Adeofe has been appointed as the new Director of Investor Relations at Grindr, bringing experience from her roles at companies like Google and Lyft. Her arrival coincides with Grindr's first year as a publicly traded company, facing challenges like slowing revenue growth and current unprofitability. Adeofe's role will be crucial in enhancing investor relations and navigating these challenges.
LGBTQ+ Online Dating: a Historical Overview
THE BAY AREA REPORTER – In 1993, Andy Cramer, the CEO of Caregiving Network, founded Gay.Net, one of the earliest platforms for gay men, especially during the HIV/AIDS crisis. This bulletin board system (BBS) later merged with Gay.com, reaching 4M users by 1999. Back in 1987, Jean Marie Diaz in the U.S. established Sappho, a hub for lesbian email lists. Amy Goodloe further expanded the online lesbian community with lesbian.org in the mid-1990s. In 1999, Gary Frisch and Henry Badenhorst introduced Gaydar, offering chat rooms for queer men. OkCupid launched in 2004 and, while not exclusively LGBTQ+, became popular within the queer community. By 2021, it had broadened its gender and sexual orientation identifiers to 60, collaborating with organizations like the Human Rights Campaign and GLAAD. Joel Simkhai launched Grindr in 2009, the first geolocation dating app specifically for gay men, later expanding its offerings and user base. After leaving Grindr, Simkhai founded Motto, a dating app that aimed to counter "toxicity and discrimination" in some queer dating platforms. In 2015, Robyn Exton established HER, originally known as Dattch, as a platform for the "FLINTA (female, lesbian, intersex, trans, and agender) community," focusing on both dating and community aspects. Tser stands as a dating app for the transgender community, presenting itself as both a dating platform and social community for trans individuals and allies.
Grindr Faces Ban Call in South Africa After User Attacks
IOL – South African security firm, Vision Tactical, has called for a ban on Grindr due to rising attacks on users. This follows the kidnapping of a university student, allegedly lured via the app. Yaseen Theba from Vision Tactical cites Grindr's vulnerability to fake profiles and the app's inability to ensure user safety.
FTC Urged to Investigate Grindr’s Data Practices
MEDIA POST – The advocacy group Electronic Privacy Information Center is urging the Federal Trade Commission to investigate the privacy practices of Grindr – including whether the app enabled advertisers to obtain sensitive data without users' consent. The watchdog's complaint is largely based on allegations in a wrongful termination lawsuit filed in June by Grindr's former chief privacy officer, Ronald De Jesus. He alleged that Grindr continued to store sensitive data – including private messages, naked photos and information about HIV status – after users deleted their accounts. He also alleged Grindr allowed third parties to collect data about users when they viewed ads – even if those ads weren't clicked on.
€5,8M Fine for Grindr – Appeal by Grindr Failed
NOYB – Grindr faced a €5.8M fine by the Norwegian Data Protection Authority for violating user privacy, and its appeal against this fine has failed. Grindr was accused in 2020 by the Norwegian Consumer Council of sharing sensitive user data illegally with third parties for advertising. The failure of Grindr's appeal serves as a stern warning to all companies on the ramifications of unauthorized personal data sharing and underscores the urgency for the digital advertising industry to reform its practices and uphold consumer rights.
Grindr Adds Three Key Executives on the Heels of Record Quarter
BUSINESSWIRE – Grindr has appointed three new executives following a record quarter. Zac Katz is now General Counsel and Head of Global Affairs, bringing experience from law, technology, and government sectors. Tristan Pineiro is the VP of Brand and Communications, with over 20 years of experience in brand building and communications. Solmaz Shariat Torbaghan has taken the role of Director of AI and Machine Learning, contributing her extensive knowledge in AI. These appointments aim to bolster Grindr's growth and enhance user experience by integrating advanced technologies.
Grindr Loses Half Its Staff After Trying to Force a Return to Office
CNN – Grindr implemented a return-to-office mandate, leading to nearly half of its employees leaving the company. The policy required workers to either relocate to designated "hub" cities for in-person work or resign with severance. ~80 out of 178 employees chose to leave, citing the policy as retaliatory against a recent unionization effort. Many of these workers were hired remotely. The Communication Workers of America (CWA) filed an unfair labor practice charge against Grindr, which the company disputes. Amazon CEO Andy Jassy allowed employees to voice disagreement with the three-days-a-week office policy but warned of potential consequences for non-compliance. Similarly, Meta required employees already assigned to an office to attend three days a week, with noncompliance potentially leading to disciplinary measures or dismissal.
Dating Apps Put a Hefty Price Tag on Finding Love
Match which will roll out a superpremium tier on Tinder in the fall. "If you actually take a small fraction of our payers at higher price points, you actually get a number that's in the tens of millions of dollars on an annual basis," CEO Bernard Kim said.
Bumble CEO Whitney Wolfe Herd sees premium services delivering new opportunities. "We see that there's a lot of runway to expand there."
Even if uptake is slow, there is precedent behind the move to raise prices. Mark Brooks, CEO of Courtland Brooks, which helps online dating companies grow, said that other brands, such as eHarmony and Tawkify, have for years priced their premium services above what Tinder, Hinge and Bumble charged. The stakes are high in showing users that paying is worth it, Brooks said. Otherwise, they could defect to competing platforms. "They've got to actually really deliver on it, because they'll get crucified if they don't," said Brooks.