Holy Swipes Batman! Grindr Is Projected to Make HOW MUCH This Year?
It’s been a few weeks since I pointed out the Business Insider article that contained one of the lesser bombshells from the Ashley Madison hack, “Ashley Madison’s parent company Avid Life Media was considering acquiring Grindr, the location-based dating app for gay, bisexual and bi-curious men, earlier this year.”
Of course, that proved to be the acquisition that never was. The respective CEO’s, Noel Biderman of Avid Life Media and Joel Simkhai of Grindr, had been discussing various ways of forming strategic alliances since 2012. Forbes adds that acquisition talks were occurring in the Avid Life Media boardroom as recently as this June. Biderman put the kibosh on the matter before the hack and now we know why. It wasn’t the “gay thing,” it was a money thing.
According to GayStarNews,
According to the documents Grindr had revenues of close to $16 million in 2012, growing to $24 million the following year and the company is projecting revenue growth of around $10 million per year.
The company’s projections go as far as 2018 when Grindr expects to be raking in as much as $77 million in combined revenue from member subscription fees and advertising.
So it would appear that at the time, Biderman and/or the Avid Life Media Board of Directors “found the (Grindr) acquisition too costly.” Ironic, isn’t it, that in the end, a hack proved much, much more expensive.
As for Grindr, their estimated revenue for 2015: $40,000,000.00 USD.
40 Million … yes, with a “M.”