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.
by Denny Jacob
See full article at Wall Street Journal
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