Grindr

“Jeff and I were insistent with the other PE firm that everyone is going to have stock that will, you know, it will reflect their level in the company, of course, but we wanted everyone to have stock.”

“The financials are doing a hundred million of revenue and about forty five million of EBITDA, incredible margins at scale, yet the ratings are so low.”

“There's only five people that had equity.”

“And in that last year, we were able to double the revenue to two hundred million, double the EBITDA to about ninety two million, and then take it public for two billion.”

“We ended up, and we don't normally do this terminating 70% of the employees, because it just, they were C players, and we wanted at least A minus players, if not A players, right?”

“The NYSE is, is kind of an old school organization. They had rainbow flags everywhere. I mean, they went all out for Grindr.”

“Grindr, we bought for six hundred million dollars, and of that six hundred million, we put two hundred million of debt. So call that roughly four terms of debt. I said they were doing about 45 of EBITDA. So about four terms of debt, which is again, pretty indu…”

“Now, because Grindr is focused on LGBTQ, it was really interesting. A lot of the traditional buyers were not there in the process. There was always like someone conservative on the investment committee that was like, we can't touch that. We went to try to rais…”