![]() ![]() ZipRecruiter – The stock popped nearly 15% after the job marketplace beat StreetAccount's estimates for third-quarter per-share earnings and revenue. The company reaffirmed its full-year production guidance. Rivian – Shares of the electric vehicle maker gained 5% after the company reported a smaller per-share loss than expected by analysts polled by Refinitiv. The company also said it expects to beat estimates on both for the full year. Personal Loans for 670 Credit Score or LowerįICO – Shares of the analytics company jumped 10% after it beat StreetAccount's expectation for per-share earnings and revenue when reporting fourth-quarter earnings after the bell. Personal Loans for 580 Credit Score or Lower "We want to be the gay super-app," he said.Best Debt Consolidation Loans for Bad Credit I don't think anything on that has changed, that's just the reality for us." "But there's a lot more that's going on in the app. If you're going to be an investor in Grindr, you need to realize that sex is a really big part of gay culture, and sex is a really big part of Grindr," Arison said. "We don't hide that sex is at the core of the product. This summer, the app is teaming up with the Pan American Health Organization to educate LGBTQ+ communities on mpox. He pointed to Grindr's role in spreading information and resources around mpox last year as an example of how users go to the platform for other purposes aside from simply meeting other community members. The company is also also interested in building out a part of the platform to focus more on dating, with the potential for artificial intelligence to play a role down the road.īut Arison noted that doesn't mean the company will lean away from other uses of the app, such as for hook-ups or for information related to the community. Grindr also recently launched a web offering, which may offer more features at an additional cost in the future. There were about 866,000 paying customers in the first quarter, representing less than 7% of the total monthly users.Īrison said Grindr has an opportunity to grow in international markets: As other countries become more welcoming of LGBTQ+ people, this can encourage members of the community to feel safer on the app.Īn advertisement-free offering is one idea for getting more paid users, though the company also sees the potential to get more focused advertising for companies that specifically want to reach LGBTQ+ people.Īnother idea is to add a function that will allow users to "move" their profile to other locations and be found in different areas, which can appeal to regular travelers. ![]() comes even close to this level of engagement," he said.īut he also sees an opportunity to further monetize, with the amount of paying customers lower than peers. "When people see the engagement levels on Grindr, which are out of this world, they are like 'Wow, there's no way you can be used as purely a dating product,' because nobody. The average user spends 58 minutes per day on the platform, as of the end of 2022. Grindr has about 13 million monthly active users, with representation worldwide, company data shows. Arison called the product a "total open book" and said there's the potential to be a "super-app" for the community it serves.Īrison has been pleased with the extensive free functionality to make it a social network and a community space. Grindr is also busy planning the future of the app. "If we deliver that quarter after quarter after quarter, the stock's gonna take care of itself." "The reality is that what I can control, and what my team can control, is, execute to a plan and exceed people's expectations," he said. The firm noted that demand is rising, with 65% of online daters planning to increase usage over the next year.Īrison said he's confident the stock will perform well as long as the company stays on its path of innovation. Online dating penetration is still growing despite concerns the market was oversaturated, according to a Morgan Stanley report released earlier this month. Some see an improving environment for dating apps as a whole, though Grindr leadership is quick to note the platform offers more than just that. A new competitor has also joined the field: Match Group launched its Archer dating app on June 1, focusing on gay, bisexual and queer men. The stock has attracted the attention of the Wall Street Bets Reddit page, which rose to fame in the investing world as it became a primary discussion forum for meme-stock action. Grindr does not yet have any coverage from Wall Street firms, with its last earnings call consisting of questions from retail investors inquiring into topics such as if any board members use the app or if web-based competitors are a concern. Personal Loans for 670 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit ![]()
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