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Grindr Inc. - GRND STOCK NEWS

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Grindr Inc. (symbol: GRND) is a leading social networking app specifically designed for gay, bi, trans, and queer individuals. The platform provides a secure and discreet environment where users can connect without the need to share personal information. Founded with the mission to bring together like-minded individuals, Grindr has grown to become a significant player in the social networking space.

As an agile company, Grindr is known for its focus on engineering excellence. The team employs pair programming and behavior-driven development (BDD) principles to ensure high-quality software development. With a robust testing framework that achieves over 90% test code coverage, the company guarantees a reliable and user-friendly experience.

Grindr's technology stack includes a powerful back-end built with non-blocking I/O Akka and the Scala framework. The business components are developed using Java, and the infrastructure is configured with Zookeeper to manage AWS Elastic Beanstalk clusters. This advanced setup supports the app’s high-performance requirements, including over 1 million active hourly users, 10,000 API calls per second, and 135 million chat messages per day.

The company leverages cutting-edge cloud computing and caching techniques to scale globally. Key technologies in their infrastructure include Redis, Elasticsearch, AMQP RabbitMQ, Amazon RDS, and DynamoDB. Additionally, MongooseIM, an Erlang-based platform, is used to manage chat functionalities, ensuring seamless user interactions.

Grindr has continually evolved to meet the needs of its user base, introducing new features and enhancements to improve the user experience. The app is available on both iOS and Android, powered by the Grindr 3.0 back-end, offering a consistent and high-performance experience across devices.

In recent years, Grindr has achieved several milestones, including expanding its user base, improving app performance, and forming strategic partnerships to enhance its offerings. As a publicly traded company, Grindr remains committed to maintaining its leadership position in the social networking space through continuous innovation and user-centric development.

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Grindr unveils new mission to build digital Gayborhood at Web Summit Rio and introduces Roam™ to expand connections ahead of travel, aiming to transform social networking for the LGBTQ+ community globally.
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Grindr Inc. partners with Burnett Foundation Aotearoa to offer free HIV self-test kits to Grindr users in New Zealand, expanding their global public health initiative. Over 235,000 test kits were distributed in 2023, with New Zealand being the latest country to benefit from this program.
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Grindr Inc. (NYSE: GRND) announces its CFO's participation in a fireside chat at the 36th Annual ROTH Conference. The event will take place on March 18, 2024, at 2:00 PM PT in Dana Point, CA. Investors can access the live webcast on Grindr's investor relations website.
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Grindr Inc. reported robust 2023 Q4 and full-year 2023 earnings, with $260 million in revenue, $55 million in operating income, a 21% net loss margin, and a 42% adjusted EBITDA margin. The company saw a 38% increase in revenue from paying users, with 121 billion chats sent in 2023. Grindr anticipates a 23% or greater revenue growth and a 40%+ adjusted EBITDA margin in 2024.
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Grindr Inc. (NYSE: GRND) to release financial results for Q4 and full year 2023 on March 7, 2024. Webcasted conference call to discuss results.
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Grindr Inc. (NYSE: GRND) announces participation in upcoming investor events hosted by Morgan Stanley and Citizens JMP. The events will feature presentations by CEO George Arison and CFO Vanna Krantz, with live webcasts available on Grindr's investor relations website.
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Grindr Inc. (NYSE: GRND) partners with Ex-Human to enhance its in-house artificial intelligence capabilities, aiming to improve the dating experience for the LGBTQ+ community. The partnership will leverage Ex-Human's AI models to create new features while prioritizing user privacy and data control. Grindr plans to release AI prototypes in 2024.
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Grindr Inc. (NYSE:GRND) completes a refinancing via a new $300 million Term Loan A facility and a $50 million Revolving Credit facility. The transaction is expected to reduce interest expense by approximately $17M in 2024. The joint lead arrangers of the transaction are J.P. Morgan, Bank of America, Citizens Bank, and Silicon Valley Bank, with Capital One also participating as a lender. The new facilities mature in November 2028 and bear interest at a rate equal to Term SOFR plus an applicable margin of 275 to 325 basis points above the Secured Overnight Financing Rate (SOFR), based on Grindr’s leverage.
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Grindr Inc. (NYSE: GRND) to Participate in Fireside Chat at Raymond James TMT and Consumer Conference on December 4, 2023
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Grindr Inc. (NYSE: GRND) announces partnerships with Equality Movement and MPOWER to offer HIV self-test kits to users in Georgia and Ireland. This move allows Grindr users in these countries to order free at-home HIV self-test kits directly from the app, addressing barriers to in-person testing.
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FAQ

What is the current stock price of Grindr (GRND)?

The current stock price of Grindr (GRND) is $13.935 as of November 5, 2024.

What is the market cap of Grindr (GRND)?

The market cap of Grindr (GRND) is approximately 2.4B.

What is Grindr Inc.?

Grindr Inc. is a leading social networking app designed for gay, bi, trans, and queer people to connect discreetly and securely.

What technologies does Grindr use?

Grindr uses a tech stack that includes Akka, Scala, Java, Zookeeper, AWS, Redis, Elasticsearch, RabbitMQ, Amazon RDS, DynamoDB, and MongooseIM.

How does Grindr ensure high-quality software?

Grindr employs pair programming and behavior-driven development principles, achieving over 90% test code coverage to ensure high-quality software.

How many active users does Grindr have?

Grindr supports over 1 million active hourly users.

How many messages are sent on Grindr daily?

Grindr users send over 135 million chat messages per day.

What platforms is Grindr available on?

Grindr is available on both iOS and Android platforms.

What is the purpose of Grindr?

Grindr aims to provide a safe and discreet environment for LGBTQ+ individuals to connect and interact.

How does Grindr manage its infrastructure?

Grindr uses advanced cloud computing and caching techniques to manage its global infrastructure.

What recent achievements has Grindr accomplished?

Grindr has expanded its user base, improved app performance, and formed strategic partnerships to enhance its offerings.

Is Grindr publicly traded?

Yes, Grindr Inc. is a publicly traded company with the symbol GRND.

Grindr Inc.

NYSE:GRND

GRND Rankings

GRND Stock Data

2.37B
175.99M
85.7%
10.84%
2.46%
Software - Application
Services-computer Programming, Data Processing, Etc.
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United States of America
WEST HOLLYWOOD