GROWLr just got sold Y’all!
GROWLr has become the latest dating app, aimed at gay and bi men to be sold, and it was sold for some big $$$s!
Although the amount paid for it is dwarfed by the amount paid by a Chinese gaming firm for Grindr, the buyers still parted with nearly $12,000,000 ($11.8m) for GROWLr and that’s not to be sniffed at. This also means the app is no longer gay-owned or operated and becomes an “acquired property” of the much larger company, The Meet Group.
Currently, GROWLr has around 10 million users of which 200,000 of them use the app daily.
Speaking about the acquisition, Geoff Cook, the CEO of The Meet Group, said, “In addition to reporting a strong quarter, I’m excited to announce the acquisition of Growlr, which provides a meaningful step into the large same-sex dating market and expands the base of users to whom we can deliver our live video product,
“We are thrilled to add Growlr to The Meet Group portfolio,” said Cook.
“Similar to what we have done with our other acquired properties, we plan to be aggressive in bringing our video model to Growlr. We expect to begin rolling out live video on Growlr in the fourth quarter of 2019.
“We also see opportunities to grow advertising revenue on the app, and we plan to further invest in user acquisition to expand brand awareness and reach.”