Grindr Reports 32% Revenue Growth in Q2
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Short summary:
– Grindr Inc. reported 32% revenue growth in the second quarter of 2023.
– The LGBTQ+ dating app generated $61.5 million in revenue.
– The launch of the premium “Weeklies” model performed well among users.
– Grindr introduced new and more persistent ad formats in the advertising business.
– Cost savings through internal changes helped in reducing the number of employees.
– Grindr’s revenue is driven by 929,000 paying users.
– Grindr has over 13 million monthly active users worldwide.
– Full year outlook is for 28% or more revenue growth and 41% or more EBITDA margin.
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