Irakly Arison, CEO of Grindr, highlights that although the company continues to incur losses, these losses have been notably reduced and are primarily attributed to the warrants stemming from the merger with the special purpose acquisition company (SPAC). These warrants do not affect Grindr’s operational stability, as evidenced by its operating profit. The company’s adjusted EBITDA margin has improved to 40%.
Regarding investment, Grindr is prioritizing product innovation, notably with the introduction of a new chat architecture. This innovation allows users’ conversations to be retained even when they switch phones, addressing a common user complaint. Arison also discloses that Grindr is diversifying its functionality beyond matchmaking, envisioning the future of dating and developing features that will align with user expectations in the coming years, particularly through artificial intelligence (AI).
Furthermore, Arison mentions that Grindr is actively recruiting. Half of its team was hired in the last quarter, and the company is actively seeking new talent.