Grindr Seeking Rich Investor Who’s DTF (Down To Finance)

Apps are big business nowadays. According to estimates, dating apps alone are a two billion dollar annual business. It should come as no surprise, then, that Grindr is now the latest "dating" app to get in on the action by trying to find a potential buyer. I suppose they're considered a dating app because they don't have an official fucking app category.

According to Bloomberg Business (link below), the Los Angeles based company is in the early stages of exploring a potential sale and has no firm offers at the moment.

The service helps gay men connect online by using location-based software. Joel Simkhai founded Grindr in 2009 with $5,000. Four years later, the company is still self-funded with no outside investors, and charges about $12 a month, Simkhai said in a Bloomberg TV interview April 17.

In 2011, he started Blendr for men and women with similar interests, looking for friends in close proximity. Grindr has more than 5 million users in 192 countries, according to its website.

Dating apps are struggling to sustain revenue growth, in part because after customers find a match, they tend to stop paying for the service. They also face competition from free services. Zoosk Inc., which helps make personalized matches for people online, withdrew its filing for an initial public offering on Friday after a year of delays amid management changes.

While that does hit on a major downside of dating apps, it doesn't seem to apply to Grindr, which is a hookup app. I guess it might be time for a distinction to be made, I just wouldn't look to Bloomberg Business to be the ones to make it. Either way, the negotiations would make for a pretty sweet porn setup.

Via Bloomberg Business