SEEKING 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.
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Grindr: Stock Price Implodes but the App Is Growing Fast
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