Types (Niche)

Dating app Grindr launched its initial public offering in mid-November and saw its stock quickly soar thanks to enthusiastic investors, and despite the recent downturn of tech and dating app markets. The stock rose more than 400 percent after it launched.

According to MarketWatch, the stock debuted at $16.90 on Friday November 18th, and hit a high of $71.51 before noon. It then closed out the day at $36.50. The LGBTQ+ dating app merged with Tiga Acquisition Corp, a special purpose acquisition company, and debuted that day on the NYSE under the symbols GRND and GRND.WS. Unfortunately, a week and a half later and now the stock has trading as low as $7.63.

"Today marks an important milestone not only for the team at Grindr, but for the LGBTQ community we serve," said Grindr's chief executive officer, George Arison, in a statement reported by NPR. "We enter the public markets with momentum, carried by our market leadership, strong financial performance and significant growth runway as we step up investment in our core product and services."

Joel Simkhai, founder popular gay dating app Grindr, has launched a new queer dating app called Motto.

In an interview with NBC News, Simkhai said he launched the new app to “course-correct” the current culture of gay dating apps. He noted that many (including Grindr) have contributed to a rise in racial discrimination among gay daters, as well as contributing to feelings of body dissatisfaction and low self-esteem in regard to body image.

Motto provides features to counteract and prevent what Skimkhai called “toxicity” on gay dating apps, including requiring users to post photos with faces instead of the popular “headless torsos” that are prominent on apps like Grindr. He’s also limiting users to perusing 10 profiles per day, so they can take their time instead of endlessly swiping.

BLK, the dating app for black singles, has announced a new feature to help alumni and students who attended HBCUs (Historically Black Colleges and Universities) connect with each other.

Homecoming Mode lets users add a sticker of their HBCU, allowing them to discover others who attended their college and show their school pride, according to Afro.com. BLK created the feature as a way of creating more ways for singles to strike up conversations, as communities are a big focus of the app. The goal is also to encourage each other to make plans as homecoming season is around the corner.

The stickers are available now, and so far, the company says that the top three stickers that users are adding include Florida A&M University, North Carolina Agricultural and Technical State University, and Howard University. Currently, BLK offers 15 stickers for HBCUs but plans to expand to include more in the future.

In response to increasing scrutiny of its Play Store practices, Google has announced it is opening up its platform to third party payment systems in 35 additional countries.

Currently, Google is the only option for an in-app payment provider on its platform in most countries aside from South Korea, which means it can charge commission (as high as 30 percent) to app developers for every single in-app purchase made by their users. Developers began to fight back, and along with help from European regulators who began to crack down on Apple and Google for their App Store and Play Store practices, they are finding success.

This new initiative has opened up platforms in the US, Brazil and South Africa, in addition to those markets which had already required third party payment system options to be available for developers, such as the EU, Japan, Australia and India.

Image: Grindr

Dating app Grindr announced the launch of its new video series Play Safe, intended to educate dating app users about its safety policies and practices. The videos will be available in the app as well as across the company’s social channels.

According to the company’s press release, the safety features the dating app will be highlighting include the ability to mute, block and report bad actors on the app. Grindr says its team of “human moderators who have been trained on LGBTQ-specific cultural sensitivities and gender-inclusive content moderation” will be reviewing all reports around the clock.

“We work day-in and day-out to make Grindr a place where our users can feel safe and supported, because we know that the world at large is not always accepting of the LGBTQ community,” said Alice Hunsberger, VP of Customer Experience at Grindr.

Dating app Bumble announced it will be cracking down on false reports from users who target gender non-conforming and other LGBTQ+ users.

According to CNET, Bumble moderators are already dismissing close to 90 percent of violation reports directed at gender nonconforming members, not because they violated rules as the report points out, but because these reports aim to force LGBTQ+ people off the app. Bumble announced that it will not be tolerating this type of behavior, and they will be removing users who repeatedly engage in the practice of submitting false reports.

"Identity-based hate is an issue that negatively affects many communities and is something that increasingly many gender-nonconforming folks, like trans and nonbinary people, have faced in online dating," the company said in a statement.