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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.
Grindr Inc. (NYSE:GRND) has announced two key executive hires to accelerate growth and expand its engineering team. Brian Anderson joins as Vice President of Advertising, a newly created position, while Jianrui Wang becomes Head of Data Engineering. Anderson, formerly from YouTube, will focus on driving growth in Grindr's advertising business, leveraging his experience in developing innovative partnerships across media and entertainment. Wang, previously Director of Data Engineering at Peloton Interactive, will provide important data leadership and help expand Grindr's engineering team, particularly in the new Chicago hub.
These strategic hires aim to enhance Grindr's platform, deliver more relevant advertisements, and improve the app experience for its global LGBTQ+ user base. The company is positioning itself to monetize new features and expand its 'global Gayborhood' concept, all while maintaining a privacy-first approach.
Grindr (NYSE: GRND), the Global Gayborhood in Your Pocket, announced its Second Quarter 2024 Financial Results release date. The results for the quarter ending June 30, 2024, will be disclosed after market close on Thursday, August 8, 2024. The company will issue a press release once the Shareholder Letter is available on its Investor Relations website. Following the release, Grindr will host a webcasted conference call on the same day at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results. An archived webcast will also be available on the Investor Relations page.
Grindr (NYSE:GRND), the leading LGBTQ+ social connector, has partnered with various organizations to offer in-app access to vital sexual health and safety resources across 30 countries. This initiative, led by Grindr for Equality, aims to provide localized, real-time information on HIV testing, public health services, and safety rights. Countries benefiting from this program include Brazil, Kenya, Spain, and Namibia, among others. Key partnerships include the European Test Finder, which helps users locate nearby testing and treatment centers for HIV and other STIs. Additionally, partnerships with organizations in Namibia, Bulgaria, the UK, and Czechia will extend sexual and mental health resources. Grindr for Equality has distributed over 440,000 free at-home HIV test kits in multiple countries and plans to expand these initiatives further.
Grindr (NYSE: GRND) hosted its first investor day in New York, unveiling plans to enhance user experiences and drive long-term growth. The company increased its 2024 revenue guidance from a minimum of 23% to at least 25%, maintaining an adjusted EBITDA guidance of at least 40%. Grindr aims for annual revenue growth of 20-25% through 2027, with adjusted EBITDA margins between 39-42%. Key highlights included the introduction of new AI-powered features and a multi-year product roadmap to expand its core dating services and develop new functionalities. The company’s strategy focuses on increasing user engagement and loyalty while expanding its 'Gayborhood' services through partnerships.
Grindr (NYSE: GRND), a leading social connector for the LGBTQ+ community, has announced its participation in two upcoming investor conferences. The company will be represented by CEO George Arison at the J.P. Morgan Global Technology, Media and Communications Conference in Boston on May 21, 2024, and by CFO Vanna Krantz at the TD Cowen Technology, Media & Telecom Conference in New York on May 30, 2024. Both events will feature fireside chat presentations, and live webcasts will be available on Grindr's investor relations website. Archived replays will also be accessible post-event.
Grindr Inc. (NYSE: GRND) reported a 35% revenue growth in the first quarter of 2024, with $75 million in revenue, $19 million in operating income, a net loss margin of 12.5%, and an adjusted EBITDA margin of 41.9%. The CEO, George Arison, highlighted the excellent results, strategic priorities progress, and new product development. The company is optimistic about future opportunities to build the 'Global Gayborhood in Your Pocket'.
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