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.
367 posts categorized "Grindr"
Grindr: Stock Price Implodes but the App Is Growing Fast
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UK ICO Issued Grindr a Reprimand for UK GDPR Infringement
ICO.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.
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Grindr's Q3 Results
BUSINESS 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".
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Grindr Stock Tumbles 20%, Hits New All-time Low
SEEKING 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.
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Grindr Stock Soars
NPR - 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.
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Grindr Plans to Focus on Monetization After IPO
WALL 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
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Grindr Unveils 'Play Safe' Campaign to Educate Users on Safety
BUSINESSWIRE - 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
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Grindr's Founder Is Launching Dating App Motto
GIZMODO - 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.
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Grindr Prepares to Go Public
CAPITAL.COM - A merger with a special-purpose acquisition company (SPAC) Tiga Acquisition was announced back in May and it valued Grindr at $2.1B. The deal is expected to close by the end of the year. Grindr will trade under the name Gindr Inc. and will be listed on the New York Stock Exchange. It is expected the stock will initially be priced at $10. As of Dec 2021, Grindr has 10.8M active subscribers and of this, 723K are paying users, up ~30% compared to 2020. For 2022, the app has forecast a rise in revenue growth between 35-40% and the company reported revenue of $147M, an increase of 30% from 2020. Match Group's share has fallen 67% this year. Bumble has also seen a drop in share price of 68% since going public in Feb 2021.
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Grindr Faces Boycott After Gay CEO's Right-Wing Tweets Are Revealed
ADVOCATE - The tag #DeleteGrindr is trending after new incoming CEO George Arison previously tweeted he was a conservative who supported some of the positions of then-President Donald Trump, Florida Governor Ron DeSantis, and Virginia Governor Glenn Youngkin. Arrison, who is openly gay, starts his new job on October 19. Arison came to Grindr from e-commerce marketplace Shift Technologies where he was CEO and co-founder. "George is an out gay man, proudly married to his husband and the father of two children," Grindr said. "George is passionate about fighting for the rights and freedoms of LGBTQ people around the world."
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Bumble Surpasses 100M in Lifetime Downloads and Grindr $500M in Consumer Spend
PR NEWSWIRE - Bumble and Grindr hit significant milestones this week, according to data.ai (formerly App Annie). Bumble has surpassed 100M lifetime downloads and Grindr has surpassed $500M in consumer spend. Bumble has taken just under eight years to reach this milestone and ranks #4 in lifetime downloads in the U.S..Over the last five years, dating app global downloads have increased 173%, from 293M in H1 2017 to 799M in H1 2022.
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Grindr Names George Arison CEO as It Prepares for Public Debut
BLOOMBERG - Grindr has named George Arison its new CEO, fulfilling a pledge to appoint someone who identifies with that group to lead the company as it prepares to go public. Arison, 44, is the co-founder and former CEO of auto e-commerce marketplace Shift Technologies. He will start at Grindr on Oct 19. Grindr also named Vanna Krantz as its new CFO. Krantz is the current CFO of transportation and payments company Passport Labs, and she previously served in that role at Disney Streaming Services. The appointments are part of a previously announced transition that will see current CEO Jeff Bonforte and CFO Gary Hsueh step down and move into advisory roles with the company.
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Which Dating Apps Collect and Share the Most Data From Their Users
TECH BUZZ IRELAND - MoneyTransfers.com has analyzed 15 different dating apps to identify which apps share sensitive information with third parties. 67% of dating apps collect users' personal data to share with third parties. Badoo and Her were discovered to be the dating apps that share most of their users' personal data with third parties (35%), including everything from location, contact information, identifiers (IP address and cookies), and usage data. In joint second place were eharmony and Grindr, and in third place came Tinder and PlentyOfFish. There were 5 apps that did not collect any of their users' personal data to share with third parties. These apps were Hinge, Thursday, Flava, Once and Raya.
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Tinder Turns 10: What Have We Learned From a Decade of Dating Apps?
THE GUARDIAN - A decade ago, online dating existed through sites such as match and OKCupid tended to attract older users, and had a stigma. Apps like Grindr (launched 2009), and Tinder (2012) radically changed online dating. Emily Witt, the author of Future Sex, a book that examines sex in the internet age, tells Nosheen Iqbal about the origin story of Tinder, meeting the founders, and why it was such an instant success. Dating apps have grown in response to a culture where people are single longer and a changing sexual morality that's open to different kinds of relationships.
by Nosheen Iqbal
See full article at The Guardian
See the top news on Tinder
See the top news on OkCupid
See the top news on Grindr
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How Dating Apps Could Help Stop the Spread of STD
STAT - The rise of dating apps has led to more casual relationships, which means users feel less obliged to disclose sexually transmissible infections (STIs) to one another. Gonorrhea infections are up 45% and syphilis is up 52% since 2016. Congenital syphilis cases are up 235% since 2016. Grindr is alerting all users about new infectious disease outbreaks, including meningitis, hepatitis A, and monkeypox. Dating apps could incorporate the following approaches to improve the detection, treatment, and prevention of STIs:
- Remind users to get regular testing for STIs and link them to local resources.
- Provide an option to send anonymous notifications of positive STI test results to partners on the platform.
- Confidentially and digitally transmit exposure and testing data to public health departments.
by Céline Gounder & Michael Donnelly
See full article at STAT
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