My First Million How two straight guys bought Grindr and made $2B
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Oct 13, 2025 
Rick Marini, an operator and investor with a background in M&A, and Jeff Bonforte, a seasoned leader in product and engineering, share their incredible journey of acquiring Grindr for $600M and flipping it for $2B in just two years. They discuss the unique challenges they faced, including cultural stigma affecting buyer interest. The pair reveal their key strategies for turning the company around, such as overhauling talent, prioritizing community trust, and innovative growth tactics, while also diving into investment themes like AI and crypto.
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How Grindr Started And Forced Sale
- Grindr was founded by Joel Simkai to find nearby gay men using GPS and grew rapidly before selling to a Chinese firm.
- CFIUS later forced a sale over national security and privacy concerns, creating the opportunity Jeff and Rick seized.
CFIUS Created A Rare Buying Window
- CFIUS can mandate a forced sale within a year if foreign ownership poses national security risks.
- That forced timeline created a constrained process that left attractive assets undervalued.
Stigma Can Produce Market Discounts
- They bought Grindr at ~12-13x EBITDA, below public market multiples because of process and stigma issues.
- Latent homophobia and PR/legal problems created a pricing discount they exploited.