Category: Grindr

Online Dating (Investors) Summit, in New York

Posted on March 13, 2023

New Street Research Online Dating SummitOPW – New Street Research, assisted by Courtland Brooks, is organizing the Online Dating (Investors) Summit in New York tomorrow, Tuesday 14th March. 40-50 institutional and large-scale public company investors will be in attendance, along with a diverse group of public and private Internet dating company CEOs.

The CEO of Match Group, Bernard Kim, along with the COO of Tinder, Faye Iosotaluno, and CPO of Tinder, Mark Van Ryswyk will speak. The CEO of Grindr George Arison and CFO of Grindr Vanna Krantz will also be speaking.

Mark Brooks of Courtland Brooks (and OPW.news), will be interviewing a panel of private company CEOs, namely Joel Simkhai, the Founder of Grindr, and now CEO of Motto. Also Carsten Boeltz, the CEO of Online Dating Group, and Paul Rider, the CEO of SALT. Mark will then interview the CEO of happn, Karima Ben Abdelmalek.

This is a completely unique event and opportunity for large investors to meet and mingle with the CXOs of both the large online dating public companies and private dating companies to get a better sense of the challenges and opportunities for the dating industry.

Investors who are interested in joining future niche industry meetings and learning from New Street Research's independent analysis, please inquire with New Street Research.

Grindr Reports Revenue Growth of 34% in Fiscal Year 2022 Results

Posted on March 8, 2023

GrindrFAST COMPANY – Grindr reported 2022 earnings of $195M, a YOY growth of 34%, and expects its revenue to grow by 25% in 2023. The app also reported an increase in monthly average users to ~12M and paying users grew to 873,000 from 703,000 YOY. Grindr's CEO, George Arison, says that the company is looking at launching a lower subscription tier and improving its monetization by optimizing pricing segments better. The company is also adding more features to its app to convert non-paying users to paid or partly paid offerings. Despite the decline in Grindr's stock price since its debut in November, Arison is confident that the stock price "will take care of itself" as the company continues to show growth potential.

by Jessica Bursztynsky
See full article at Fast Company

See the top news on Grindr

Grindr: Stock Price Implodes but the App Is Growing Fast

Posted on January 25, 2023

Grindr logoSEEKING ALPHA – Grindr went public with an overvaluation of $2.1B through a SPAC deal, leaving only 500K shares available for the public to trade. While the stock has imploded, we should not disregard that Grindr has a scalable business model with large profit margins and the ability to generate serious cash. It is the largest LGBTQ social and networking app, with ~11M users exchanging ~12B messages per day. It is growing faster than direct online dating peers, with 32% YOY revenue growth and 42% YOY paid user growth.

See full article at Seeking Alpha

See the top news on Grindr

UK ICO Issued Grindr a Reprimand for UK GDPR Infringement

Posted on December 9, 2022

Grindr app on phoneICO.ORG.UK – ICO, Information Commissioner's Office in the UK, has now completed its investigation into Grindr processing the personal data of its UK user base. ICO claims that Grindr has failed to provide effective and transparent privacy information to its UK users on how it processes their personal data. The office issued a reprimand with recommendations on how to improve its compliance with the UK GDPR.

See full article at ICO.org.uk

See the top news on Grindr

Grindr’s Q3 Results 

Posted on December 5, 2022

GrindrBUSINESS WIRE – Grindr's Q3 2022 revenue was ~$50M, up 32% YOY. The net loss was $4.7M. On Nov 18, 2022, Grindr and Tiga Acquisition completed their proposed business combination, bringing Grindr to the public market. Grindr began trading on the New York Stock Exchange under the ticker "GRND".

See the top news on Grindr website

See the top news on Grindr

Grindr Stock Tumbles 20%, Hits New All-time Low

Posted on November 30, 2022

GrindrSEEKING ALPHA – Grindr's shares opened at $8 on Nov 18, reaching a high of $9 in early trading before falling to a new 52-week low of $6.52 in late afternoon. Grindr went public following the merger with SPAC Tiga Acquisition through a deal that valued the combined company at ~$2.1B.

by Val Kennedy
See full article at Seeking Alpha

See the top news on Grindr

Grindr Stock Soars 

Posted on November 22, 2022

Grindr IPONPR – Grindr's stock rose by more than 400% after going public on Friday. Grindr debuted on NYSE under the symbols "GRND" and "GRND.WS." Grindr's CEO, George Arison, said. "We enter the public markets with momentum, carried by our market leadership, strong financial performance and significant growth runway as we step up investment in our core product and services." Grindr launched in 2009, reports ~11m DAU and 61 mins per day on the app. Grindr estimated the value of its user base at $4 billion.

by Giulia Heyward
See full article at NPR

Mark Brooks: Grindr is a darling of the dating industry.  

See the top news on Grindr

Grindr Plans to Focus on Monetization After IPO

Posted on November 18, 2022

Grindr logo for social mediaWALL STREET JOURNAL – Grindr is set to list on the New York Stock Exchange today, and the company plans to further monetize its services, review subscription prices and beef up its finance team once it joins the public markets via a merger with a special-purpose acquisition company. Grindr will combine with blank-check company Tiga Acquisition. The transaction, valued at $2.1B, is expected to provide Grindr with ~$384M in proceeds, which will bolster its balance sheet and help with paying down debt. The company will list on the New York Stock Exchange under a new name, Grindr Inc. During Q2, Grindr's revenue grew 34% YOY, to $46.6M. The company reported a net income loss of $4.3M in Q2 compared with a $1.8M profit in Q2 '21. The year-over-year loss was largely driven by one-time costs associated with going public, such as legal, consulting and audit fees. Q3 results haven't been released yet.

by Jennifer Williams-Alvarez
See full article at Wall Street Journal

See the top news on Grindr

Grindr Unveils ‘Play Safe’ Campaign to Educate Users on Safety

Posted on November 2, 2022

Grindr logo for social mediaBUSINESSWIRE – Grindr announced a new video series campaign, Play Safe, to educate users and the broader public about Grindr's safety policies and practices. These videos will be shared both in-app to users as well as across Grindr's social channels. The following safety features will be included in the first installment of Play Safe:

  • The ability to mute, block, and report bad actors on the app
  • Features that allow users to verify each other before meeting up to avoid catfishing, such as audio chatting and video chatting.
  • Grindr's moderation team

See full article at Businesswire

See the top news on Grindr

Grindr’s Founder Is Launching Dating App Motto

Posted on November 2, 2022

Motto logoGIZMODO – Joel Simkhai is back with a new gay dating app, Motto, that aims to tamp down on behavior most associated with Grindr. Simkhai founded Grindr in 2009, two years after the first iPhone was unveiled. By 2018, he had sold it to Beijing Kunlun Tech for $245M. The app was sold again in 2020 for $608.5M. In the same year, Grindr was reported to have 13M users.

Q: Why are you getting back into the business of online dating?
Joel Simkhai: One of my great joys in life is being a matchmaker and seeing people meet and connect.

Q: Why the name Motto?
A: A motto is what users stand for. And their profile is meant to be a statement.

Q: The app says "No more headless torsos." Why is that?
A: We really want to mimic the real-life experience of meeting someone at a bar, on the street, or at a party. What's the first thing you do when you meet them? You look them in the eye.

Q: How many users do you have now? How long is the wait list?
A: We're not we're not sharing specific user numbers right now. We just launched a few days ago. We're seeing some folks chatting already and meeting.

Q: What can you tell me about the matchmaking algorithm that's going into Motto?
A: We're still in the early days. It's not super advanced. It's something that we're going to be leveraging in the future and building up.

by Blake Montgomery
See full article at Gizmondo