Hey everyone,
The recent interest in Grindr prompted me to take a closer look at this company. Just wanted to point out something I haven't seen anyone else call attention to:
GRND has grown its revenue and earnings every year since 2016:
| Year | Revenue (Millions USD) | Adjusted EBITDA (Millions USD) |
|---|---|---|
| 2024 (proj) | 330M | 139M |
| 2023 | 260M | 109M |
| 2022 | 195M | 86M |
| 2021 | 147M | 77M |
| 2020 | 113M | 51M |
| 2019 | 109M | 49M |
| 2018 | 87M | 22M |
| 2017 | 66M | 11M |
| 2016 | 55M | 8M |
Sources:
- https://investors.grindr.com/news/news-details/2024/Grindr-Inc.-Reports-Fiscal-Year-2023-Revenue-Growth-of-33/default.aspx
- Page 13 of 2022 Investor Presentation https://s201.q4cdn.com/840224656/files/doc_presentation/2022/05/Grindr-Investor-Presentation-2022.05.10.pdf
As insane as these numbers are, the crazy thing is, the app has barely began monetizing its users. Another thing that stands out that the average Grindr user spends 60 minutes a day on the app, which is 2x compared to other apps.
Looking at the history of the company, Grindr was first founded back in 2009 and it's since built up a large brand name. According to Reuters, from 2016 to 2020, it was owned by a Chinese video game development firm, but it was sold off for $608 million due to national security risks. Then, in Q3 of 2022, they got new management and a new CEO (George Arison) who has outlined ambitious plans for expansion beyond just hookups/dating.
Arison is also keen on using AI to boost revenue like partnering with Ex-human, potentially for virtual companions capable of sexting, flirting, and maintaining an ongoing relationship. In the press release: "Grindr expects to release prototypes of some AI functionality in 2024," and in previous earnings calls, CEO George Arison has hinted that more will be revealed on Investors Day coming up on June 26th.
Sources:
- Grindr CEO: We are early in our monetization
- https://www.axios.com/2024/04/02/grindr-hires-athena-expansion
- https://investors.grindr.com/news/news-details/2023/Grindr-Forms-Exclusive-Partnership-with-Ex-Human-to-Enhance-User-Experience-Using-Artificial-Intelligence/default.aspx
Anyway, under the new management, stock has a loooott of runway to continue this growth for the next decade at least.
Grindr growth over time, with record profits in 2024
byu/HwiskyIcarus inwallstreetbets
Posted by HwiskyIcarus
21 Comments
🌈🐻📈
So you’re telling me that the Bulls are Gay now?
GRND is gonna be a 50 billion company in 2030.
“The chemicals in the water” was definitely a catalyst.
The 6/21 call for $11 is only a max cost of $50, should I do it? Or 7/19 $80 for strike at $11? Never done options but tsm, Nvidia, and 🌈🐻 are making me consider it.
Im a simple man. I see AI and I buy
Wallstreet turned 🌈
The virtual companion thing is sad.
Fuck it. I’m going bull on Grindr.
What’s adjusted ebitda
What’s net income
I think the AI companion will see a decent amount of usage. Smart move.
Im buying puts. Fuck op.
PUTS EXPIRY July 16=You are basically gay with happiness. Wait
It was all downhill after Harambe died and people needed a way to cope.
Please look up this CEO’s last public company he ran: Shift. Drove it into the ground lol
Not sure why anyone thinks allowing AI and using it as a business strategy is good for a dating app. Why would i every pay knowing the lther side is a AI?
Is there really a big Portion of people wgo would like to have a relationship with an ai?
Wtf I love gay people now 
Isn’t this just  MTCH but with 10% the TAM?
Bull/Cow/Hay/Hemp/………..
Fuck it. If I make a fortune off of GRND, I’ll get a rainbow lambo