Grindr was founded six years ago with just a few thousands bucks by Joel Simkhai, the same mane who founded Blendr a couple of years later. Apparently organizing hookups for gay men is good business, as Grindr has managed to survive all this time without a penny from investors, but Simkhai is done with independence and is apparently looking for someone to buy out the app, which has more than five million users at the moment.
Grindr LLC is looking for more than just a hookup: The application for gay men is seeking a buyer. Grindr, based in Los Angeles, has hired Raine Group LLC to advise it on a possible sale, people familiar with the matter said. The sale process is early and no deal is assured, said the people, who asked not to be named because the process is still private. The people didn’t know what valuation Grindr might fetch in a sale. The service helps gay men connect online by using location-based software. Joel Simkhai founded Grindr in 2009 with $5,000. Four years later, the company is still self-funded with no outside investors, and charges about $12 a month, Simkhai said in a Bloomberg TV interview April 17. In 2011, he started Blendr for men and women with similar interests, looking for friends in close proximity. Grindr has more than 5 million users in 192 countries, according to its website. A spokesman for Grindr declined to comment, as did a spokeswoman for Raine.
