PortalsOS

The key to successful private equity is partnering with existing teams. When we acquired Grindr, we brought in experts like Sam Yagan, who had extensive experience in the dating industry, to strengthen our team.

Despite Grindr's controversial nature, the app was an incredible business opportunity due to its profitability and strong market position. The company was growing rapidly, and users loved the product.

Grindr had several challenges: a public privacy issue with user data, complications with Chinese ownership, and a PR problem. Despite these, we saw potential due to the strong customer love for the product.

Jeff Bonforte reflects on the success of Grindr: 'We took Grindr from $100 million of revenue to $200 million in two and a half years by upgrading talent, tech, and launching new products. Applying the Tinder playbook was key to our strategy.'

COVID-19 hit during the acquisition process, causing user numbers to drop by 20-30% as Grindr is a location-based app. This added to the stress and complexity of the acquisition.