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Grindr

#4488

Rank

$2.25B

Marketcap

US United States

Country

Grindr
Leadership team

Mr. Austin J. Balance (Chief Product Officer)

Ms. Vandana Mehta-Krantz (Chief Financial Officer)

Mr. George Arison (CEO & Director)

Products/ Services
Dating, LGBT, Location Based Services, Mobile Apps
Headquarters
West Hollywood, California, United States
Established
2008
Company Registration
SEC CIK number: 0001820144
Traded as
GRND
Social Media
Overview
Location
Summary
Grindr Inc. operates social network platform for the LGBTQ community. Its platform enables gay, bi, trans, and queer people to engage with each other, share content and experiences, and express themselves. It offers a free, ad-supported service and a premium subscription version. The company was founded in 2009 and is based in West Hollywood, California.
History

Original ownership

Grindr was launched as an iOS mobile app on March 25, 2009, by tech entrepreneur Joel Simkhai in Los Angeles, California. The free version displayed 100 profiles of nearby men, while a premium version contained no advertising and broadened the dating pool to 200 guys. Cautious but generally positive reviews of the app circulated through the gay blogosphere on sites such as Queerty and Joe My God. By August 2009, there were 200,000 total users in Grindr's network. By March 2010, there were 500,000.For its first anniversary on March 25, 2010, Grindr released the app for BlackBerry devices.In January 2011, Grindr won the iDate Award for Best Mobile Dating App.On March 7, 2011, Grindr launched the app for Android devices. Along with a free version, users could pay $4.97 for a premium version called Grindr XTRA that featured no banner ads, more profiles to choose from, more "favorites," and push notifications of messages received while the app is running in the background.In May 2011, Vanity Fair dubbed Grindr the "World's Biggest, Scariest Gay Bar".In January 2012, a vulnerability in the app's security software enabled hackers to change the profile picture of a small number of primarily Australian Grindr users to explicit images. Grindr subsequently commenced legal action and made software changes that blocked the site responsible.In January 2012, Grindr won TechCrunch's Crunchies Award for Best Location Application and two iDate Awards for Best Mobile Dating App and Best New Technology. In April 2012, Grindr won the About.com Readers' Choice Award for Best Dating App, after 74 percent of readers chose Grindr over Zoosk, SKOUT, Tagged, Tingle, and Are You Interested. In May 2012, the 2012 Webby Awards named Grindr an Official Honoree in its "Social " category. Fewer than 15% of entries submitted to the Webby Award committee that year received the Official Honoree distinction, which recognizes the best in Internet content, services, and commerce.On June 18, 2012, Grindr announced that it had officially hit 4 million registered users in 192 countries across the globe.On July 22, 2012, after Grindr experienced a technical outage, British tabloid The People reported that Grindr's crash was due to the volume of usage upon the arrival of Olympic athletes in London for the 2012 Summer Olympics looking for hook-ups. The report caused rumors to circulate regarding the athletes' potentially scandalous sexual behavior. Grindr quashed the rumors the next day and blamed the outage on technical issues not related to server demand.In August 2013, Grindr released an updated version of the app requiring users to verify their accounts by providing a valid email address. Grindr says this was done to reduce spam and improve portability. Critics argued it stripped the app of its anonymity.On September 30, 2013, Grindr introduced Grindr Tribes, allowing users to identify themselves with a niche group and filter their searches to better find their type. Grindr Tribes include: Bear, Clean-Cut, Daddy, Discreet, Geek, Jock, Leather, Otter, Poz, Rugged, Trans, and Twink. In addition to Tribes, Grindr users could now filter by Looking For.As of Grindr's fifth anniversary on March 25, 2014, the app was averaging more than 5 million active monthly users worldwide.

After acquisition

In January 2016, Grindr announced that it had sold a 60% stake in the company for $93 million to a Chinese video game development firm, Kunlun Tech Co Ltd . In January 2018, Kunlun purchased the remainder of the company for $152 million.In March 2018, Grindr introduced a new feature that, if opted into, sends the user a reminder every three to six months to get an HIV test.In August 2018, the Kunlun executive board granted permission for an initial public offering for Grindr. In March 2019, Kunlun started seeking for a buyer of Grindr after the Committee on Foreign Investment in the United States had informed Kunlun that having the app owned by a Chinese company posed a national security risk. This also led Kunlun to halt its plans for an IPO for Grindr.In July 2019, Grindr released Grindr Unlimited, a new premium version of the app that allows subscribers to unsend messages, go Incognito, see unlimited profiles in the cascade, see who has viewed them, see typing status, and use all the premium features of Grindr XTRA. In November 2019, Grindr launched Grindr Web, a free desktop version of the app built for users who prefer to chat from their computer or laptop. Designed for "quick and discreet" chat while at the office, it employs a generic email interface and mimics computer file folders in place of user profiles. This service has since been discontinued.

In March 2020, Kunlun announced that it would sell its 98.59% stake in Grindr to U.S.-based San Vicente Acquisition LLC for $608.5 million. Grindr's senior management and core employees would continue to hold 1.41% of the company's shares after the transaction.In late 2020, Grindr was reported to have about 13 million monthly users.In May 2022, Grindr announced it will go public via SPAC.On November 18, 2022 Grindr went public on the New York Stock Exchange.

Mission
Our Mission: Connect queer people with one another and the world.
Vision
A world where all queer people belong; empowered to connect, love, live joyfully, and build authentic community
Key Team

William Shafton (VP of Bus. & Legal Affairs and Sec.)

Recognition and Awards
Grindr won 3 awards in 2022 and 2 awards in 2021. In 2022, Grindr won for Best Company Culture 2022, Best Company Perks & Benefits and Best Company Work-Life Balance. In 2021, Grindr won for Best Company Perks & Benefits and Best Leadership Teams 2021. Based on 3,456 ratings and 122 participants, employees at Grindr are satisfied with their work experience. The overall culture score, 85/100 or B+, incorporates employee ratings based on their feedback on the Professional Development, Leadership, Diversity and more.
References

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Grindr
Leadership team

Mr. Austin J. Balance (Chief Product Officer)

Ms. Vandana Mehta-Krantz (Chief Financial Officer)

Mr. George Arison (CEO & Director)

Products/ Services
Dating, LGBT, Location Based Services, Mobile Apps
Headquarters
West Hollywood, California, United States
Established
2008
Company Registration
SEC CIK number: 0001820144
Traded as
GRND
Social Media