Grindr, dating app valued at $620 million, cleared for small-business loan

China’s Beijing Kunlun Tech Co Ltd sold West Hollywood, California-based Grindr last month to an investor group called San Vicente Acquisition LLC, after the U.S. government ordered the divestment amid concerns over the safety of personal data stored in the app.“This is a company that is doing well over $100 million of revenue . It is highly profitable and growing quickly,” Grindr Chief Operating Officer Rick Marini told the Los Angeles Times in an interview last week.

As part of the loan application, companies had to certify in good faith that “current economic uncertainty makes this loan necessary to support” their ongoing operations. A Grindr spokeswoman did not immediately respond to a request for comment on why the company applied for the loan and whether it had received and used it.

Aid provided under the Paycheck Protection Program allows small businesses hurt by the pandemic to apply for a forgivable government-backed loan from a lender. In the scramble to distribute funds, the program was beset by technology glitches, documentation snags and revelations that some lenders prioritized their most profitable clients, leading to some affluent companies receiving funds while less wealthy borrowers missed out.

Grindr retained 69 jobs as a result of its application, according to the data released by the U.S. Treasury Department and Small Business Administration on Monday.

Who wanna date me out 😆

Why? Just doesn't make sense.

'hey, what are you up to?'

I wouldn’t blame them, I’d blame the lawmakers who couldn’t put a deal together to benefit only those truly hurt by lockdown orders.

hmcpedro

Lots of big GOP closets hiding stuff... 😎

The Grindr app is funded by shitty advertising and a $100 annual membership. It does not need govt bailout money. Return it with interest! Grindr

Grindr should be under an exclusive catagory altogether. This gay dating app can be catagorized under 'Mutual Lust Business'. Grindr should qualify for a $1 million to $2 million loan since there's no doubt how highly profitable and how exponential lusting app can keep growing🤪

Probably back door’d the system

pnjaban How exactly would they be suffering and in need?

Lol. Its no where near a dating app. 😂

Abuse should have a penalty

C’mon man!

pnjaban How do I say this. W R O N G

Sverige Senaste nytt, Sverige Rubriker

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