The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 8 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Marini: Grindr turnaround team terminated 70% of employees
“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?”
Marini: Conservative ICs and Middle East Investors Refused to Buy Grindr
“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…”
Marini: Grindr Leadership Insisted PE Backers Grant Equity to All Staff
“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.”
Marini: Only five employees held equity at Grindr before turnaround
“There's only five people that had equity.”
Grindr doubled revenue to $200M and EBITDA to $92M before IPO
“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.”
Marini: Grindr Generated $100M Revenue and $45M EBITDA Prior to Acquisition
“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.”
Grindr's $600M buyout used $200M each in debt, equity, and deferred payments
“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…”