How two straight guys bought Grindr and made $2B
About This Episode
Jeff Tannenbaum and Rick Marini detail their $600 million acquisition and subsequent $2 billion public exit of Grindr, explaining how they leveraged industry-wide hesitation to buy a highly profitable but under-managed asset. The episode covers their private equity strategy of identifying 'hairy' deals with regulatory or social stigmas and applying a professionalized product playbook to drive massive growth.
Episode Description
Show Notes
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Key Takeaways
Look for 'market glitches' where assets are undervalued due to social stigma or complex regulatory hurdles, such as a forced government sale, which can scare off traditional buyers and reduce competition.
Drive immediate value in under-managed acquisitions by applying a proven industry playbook, such as implementing dynamic pricing, subscription boosts, and web versions that competitors are already using successfully.
Prioritize a 'talent reset' in turnarounds by replacing misaligned or low-performing teams with veteran operators who have experience at scale, even if it requires significant initial staff turnover.