Back in the day, I was a Grindr user. As luck would have it, I found my soulmate and deleted the app, but that didn’t stop the parent company from charging my credit card monthly for special benefits. Eventually, I had to contact my provider and block Grindr from charging my card. Maybe this maniacal scheme is how the app makes ALL THAT money.
This morning it was reported that Grindr is worth $2,100,000,000 (2.1 billion) as of January 2022. This insane amount is fueled by the perception that Grindr will raise an estimated $384,000,000 (384 million) later this year when it merges with Singapore’s Tiga Acquisition Corp.
The first of its kind, Grindr launched in 2009 by Los Angeles-based tech entrepreneur Joel Simkhai. During its debut year, Grindr averaged 500,000 monthly users – a number which peaked in 2019 at 13,000,000 (13 million) just before the arrival of the COVID Pandemic. Now, it’s seeing 10,800,000 (10.8 million) users aged 35 or younger.
Speaking of COVID, Grindr saw substantial loss to the tune of $13,100,000 (13.1 million) in 2020. Obviously, users weren’t trying to dodge catching an STD and COVID at the same time. However, Grindr is already making up for that loss with a solid $5,100,000 (5.1 million) sales profit so far this year.
Not only used to meet a stranger in the McDonald’s bathroom for a quick anonymous fuck, Grindr is also branching out into scripted content and is an active LGBT rights donator. Let’s see where that takes the company in 2022 and beyond!
Are you still using Grindr? Maybe it’s time to invest!
Sources: Channel News Asia, Axios