Grindr just named two new bosses ahead of a major change for the company.
George Arison has been named the new CEO of the gay dating and hookup app, according to NBC News. Before this, Arison led a taxi-hailing app and founded Shift Technologies which is a site for buying and selling cars. Arison then joined Grindr’s board of directors back in May.
But Arison isn’t the only new hire. Vanna Krantz, the former CFO of Disney Streaming Services, was also hired by the company. Starting September 26, Krantz will be the company’s CFO and act in the company’s top financial seat.
“Grindr is an unbelievable business and I am beyond excited to help them navigate through this next part of their journey. Their hard work and a laser focus on delivering great products to a starkly underserved market are inspiring, and deliver incredibly strong business results.” said Arison in a statement, as BusinessWire reports. “Grindr’s mission to connect the LGBTQ community with one another and the world is a powerful driver of success, and provides a framework by which we can continue to grow by leaps and bounds in the years to come. Our community is deserving of amazing business services, and we intend to meet and exceed their expectations.”
James F. Lu, Chair of the Board, said, “I am so pleased to have George Arison join Grindr’s leadership team. With his extensive experience building innovative businesses, and successfully leading them into and through the public markets, I believe there is no one more perfectly positioned to accelerate Grindr’s already strong growth and profitability. Grindr, with George at the helm, will succeed and grow as a public company at the same time as it deepens its support for the LGBTQ community.”
Not only is Arison, who is openly gay, taking on the role after years of controversy, but Grindr is gearing up to go public. The company will go public this fall with a $2.1 billion valuation range. Grindr’s doing this by merging with a special purpose acquisition company called Tiga Acquisition Corp. Grindr plans to use the money from the upcoming SPAC deal to pay down debt and strengthen its balance sheet, Bloomberg reported. Plus, the new hires represent a new focus on having primarily gay and queer leaders within the company. After all, they wouldn’t want another executive saying he doesn’t believe in gay marriage.
“Grindr’s board and management have identified and been in discussions with a potential new Chief Executive Officer candidate who would bring a depth and breadth of experience across technology, finance, and management, including time spent in an executive leadership role at a public company,” said the company in the SPAC deal release.
Grindr’s outgoing CEO and CFO, Jeff C. Bonforte and Gary C. Hsueh, will move into advisory roles. Meanwhile, Arison will formally step into his role in October.