Slide 1: Investor Presentation May 2022
INVESTOR PRESENTATION MAY 2022
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER 2 CONFIDENTIAL This presentation and the accompanying oral presentation have been prepared by Grindr Group LLC (together with its subsidiaries, the “Company”) for informational purposes only and to assist interested parties in making their own evaluation with respect to a potential
Slide 3: Legal Disclaimer (continued)
LEGAL DISCLAIMER 3 CONFIDENTIAL Financial Information; Non-GAAP Financial Measures (Contd.)Tiga and the Company believe adjusted EBITDA provides useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of
Slide 4: Introduction to Tiga
G. Raymond ZageChairman & CEO Ashish GuptaDirector & President Successful track record of more than 46 years investing across multiple strategies including public and private equity, credit and special situations INTRODUCTION TO TIGA REPRESENTATIVE INVESTMENT EXPERIENCE 4 CONFIDENTIAL GOJEK SEA PROT
Slide 5: Transaction overview
(1) Forward purchase agreement assumes a range of $50M - $100M. (2) Excludes shares underlying public and private warrants. Assumes no redemptions and a nominal price per share of $10.00, subject to customary closing conditions, including the approval of Tiga shareholders.(3) Assumes no redemptions
Slide 6: What we love about Grindr
Grindr’s platform is purpose-built to help foster a tight-knit community Grindr is essential to the LGBTQ+ community Community At Its Core Large and growing addressable market Rapidly Growing TAM Competitive moat with high engagement, MAU growth & network effects Compelling Competitive Advantage Gri
Slide 7: Proposed Board of Directors
PROPOSED BOARD OF DIRECTORS G. RAYMOND ZAGE REPRESENTATIVE BOARD EXPERIENCE 7 CONFIDENTIAL MICHAEL GEARON JAMES LU DANIEL BROOKS BAER MEGHAN STABLER GARY HOROWITZ GEORGE ARISON MAGGIE LOWER NATHAN RICHARDSON VENTURE FOR AMERICA BELONG ACQUISITION CORPORATION DEALENGINE INVESTING.COM CHEGG ATLANTA HA
Slide 8: Introduction
INTRODUCTION _—
Slide 9: Our Mission
Connect LGBTQ+ people with one another and the world. 9 CONFIDENTIAL OUR MISSION
Slide 10: The #1 Social Network for the LGBTQ+ Community
IDENTITY Create, manage, and control user identity and presenceProfile, Photos, Description, Stats, Expectations, Identity, TagsCONNECTING Easily find and be found by other usersCascade / Grid, Search, Filters, Viewed Me, Favorites, ExploreINTERACTION Chat with and meet potential connectionsInbox, M
Slide 11: Fundamentally Different Than Traditional Dating Apps
FUNDAMENTALLY DIFFERENT THANTRADITIONAL DATING APPS 11 No swiping means users get access to the global LGBTQ+ community. Free users can access the closest 100 people at a time. CONFIDENTIAL
Slide 12: The Digital Connective Tissue for the Global LGBTQ+ Community
CASUALDATING RELATIONSHIPS & LONG-TERM DATING COMMUNITY & FRIENDSHIP TRAVEL LOCAL & DISCOVERY What LGBTQ+ people are looking for… WE ARE THE DIGITAL CONNECTIVE TISSUEFOR THE GLOBAL LGBTQ+ COMMUNITY 12 CONFIDENTIAL
Slide 13: (1) Morning Consult brand tracking research commissioned by Grindr, May 2022.(2) Grindr time spent
(1) Morning Consult brand tracking research commissioned by Grindr, May 2022.(2) Grindr time spent statistic is defined as number of minutes, on average, a profile spent on the Grindr app on a specific day. 61 minutes is the average for each day during the calendar month ended December 31, 2021.(3)
Slide 14: Massive and Untapped Global Market
(1) Source: Frost & Sullivan market research, March 2022. $4.0 billion market size is a total market revenue estimate for 2022. MASSIVE AND UNTAPPED GLOBAL MARKET 14 CONFIDENTIAL $4 Billion Online Social Networks Used by LGBTQ+ (1) CURRENT FUTURE OPPORTUNITY Grindr services targeted to Marketplace,
Slide 15: Introducing the Grindr Team
PRIOR COMPANY EXPERIENCE RON DE JESUSCHIEF PRIVACY OFFICER GARY BINFORDVP, FINANCE BILL SHAFTONVP, BUSINESS & LEGAL AFFAIRS HEIDI SCHRIEFERVP, PEOPLE & PLACES MEGHA BAMBRA VP, MOBILE ENGINEERING ERIC WILLIS VP, BACK-END ENGINEERING PATRICK LENIHANVP, HEAD OF COMMUNICATION JOEL KEATINGCISO JEFF BONFO
Slide 16: Investment Highlights
INVESTMENT HIGHLIGHTS
Slide 17: Investment Highlights
INVESTMENT HIGHLIGHTS Highly profitable business in early innings of monetization journey Large, growing global TAM with attractive user demographics Clear brand leader with the world’s largest global LGBTQ+ platform Unmatched engagement engine, rapidly growing user base and wide-ranging use cases o
Slide 18: Rapidly Growing and Highly Profitable Business
RAPIDLY GROWING ANDHIGHLY PROFITABLE BUSINESS (1) Calculated based on Non-GAAP revenue. Non-GAAP revenue is a Non-GAAP measure. See Appendix for an explanation of how Non-GAAP revenue is calculated from revenue / net income (loss).(2) Calculated as 2021 sales & marketing expense, primarily customer
Slide 19: (1) “ARPPU” is Average Direct Revenue per Paying User. See “Definitions” in the Appendix
(1) “ARPPU” is Average Direct Revenue per Paying User. See “Definitions” in the Appendix for additional detail.(2) Grindr paying user penetration calculated as average paying users divided by average MAUs for 2021. Tinder and Bumble paying user penetration calculated as paying users in 2021 (as defi
Slide 20: Monetization
Access ADVERTISING & PARTNERSHIPS FREE EXPERIENCE PREMIUM EXPERIENCES INDIRECT REVENUE DIRECT REVENUE UNLIMITED Efficiency & Control PREMIUM ADD-ONS XTRA MONETIZATION 1 20 CONFIDENTIAL Provides an initial set of premium features for a subscription feeNo AdsMore Functionality More Connections Provide
Slide 21: Our Core Market Is Growing Rapidly
ESTIMATED GLOBAL SELF-IDENTIFIED LGBTQ+ POPULATION(1) % OF GLOBAL POPULATION IDENTIFYING AS LGBTQ+, BY AGE GROUP(1) 10-Year CAGR: 5.4% Gen Z adults (18-24) are 4x more likely to identify LGBTQ+ than boomers (65+) Our ~11M(2) MAUs & the current self-identifiedLGBTQ+ population of 538M implies just ~2
Slide 22: Highly Coveted User Demographic with Unique Value Drivers
HIGHLY COVETED USER DEMOGRAPHICWITH UNIQUE VALUE DRIVERS $14TEstimated total GDP of self-identified LGBTQ+ population in 2026 58%Of US male same-sex households have at least one bachelor degree (vs. 42% for opposite sex households) KEY USER DEMOGRAPHICS(1) 30%More spent per capita on recreational ac
Slide 23: 80% of Grindr Profiles Are Aged 18-35
GRINDR PROFILES AGE DISTRIBUTION(1) 80% of Grindr profiles are aged 18-35Tremendous engagement with highly attractive, core young user Average age of our user base has remained youngProfile age distribution has remained consistent over time, suggesting ongoing influx of new users Positioned to grow
Slide 24: Market Positioning
~11M Connecting theLGBTQ+ community ~61 min MarketPositioning Daily Time Spent Per User(2) MonthlyActive Users(1) # Of Countries(3) 190+ Dating for the masses ~18 min ~58M 190+ Female empowerment ~16M 50+ ~14 min (1) MAUs for the year ended December 31, 2021, sourced from Grindr internal data. Bumbl
Slide 25: Grindr Is Established in the Social Conversation
GRINDR IS ESTABLISHED IN THE SOCIAL CONVERSATION 25 CONFIDENTIAL 3 (1) Social media followings per official accounts as of 5/5/22.(2) MAUs for the year ended December 31, 2021, sourced from Grindr internal data. See “Definitions” in the Appendix for additional detail. FOLLOWERS AS A % OF MAUs(2) SOC
Slide 26: Our User Engagement Is Unparalleled
Note: Grindr time spent statistic is defined as number of minutes, on average, a profile spent on the Grindr app on a specific day. 61 minutes is the average for each day during the calendar month ended December 31, 2021.Sources: Non-Grindr statistics are sourced from Statista/eMarketer and as of Ja
Slide 27: Superior Engagement Driven by Scale, Technology & Local Community Focus
Higher-Value ConnectionsInstant Feedback Streamlined Product Enhancement SUPERIOR ENGAGEMENT DRIVEN BY SCALE, TECHNOLOGY & LOCAL COMMUNITY FOCUS 27 4 First Mover Advantage Market LeaderUser Density in Key Geographies Higher EngagementDeeper Sense of CommunityGreater Monetization Opportunities LOCATI
Slide 28: Product Roadmap Focused on Super Serving Our Community
c PRODUCT ROADMAP FOCUSED ON SUPER SERVING OUR COMMUNITY 28 CONFIDENTIAL c LOCATION-BASED INTERFACE DRIVES ENGAGEMENT, GROWTH, AND PRODUCT INNOVATION 4 FUTURESuper serving the community TODAYLGBTQ+ casual, dating, social, community 2009Casual dating for gay men
Slide 29: New Ways to Build Community for Our Users
TAG SEARCH BETTER CONNECTIONS COMMUNITY IDENTITY EXPRESSION NEW WAYS TO BUILD COMMUNITY FOR OUR USERS 29 CONFIDENTIAL 4
Slide 30: Organic Growth Propels Revenue and Margins
ADJUSTED EBITDA(1,2) NON-GAAP REVENUE(1) ORGANIC GROWTH PROPELS REVENUE AND MARGINS 30 5 21% CAGR 58% CAGR (1) Calculated based on Non-GAAP revenue. Non-GAAP revenue is a Non-GAAP measure. See Appendix for an explanation of how Non-GAAP revenue is calculated from revenue / net income (loss).(2) Sour
Slide 31: Annual MAUs(1) Annual Paying Users(2) Paying User Penetration Rate Monthly ARPPU(3) ~11M ~16M ~58M
Annual MAUs(1) Annual Paying Users(2) Paying User Penetration Rate Monthly ARPPU(3) ~11M ~16M ~58M (1) MAUs for the year ended December 31, 2021, sourced from Grindr internal data. Bumble and Tinder MAUs sourced from Frost & Sullivan market research, March 2022. See “Definitions” in the Appendix for
Slide 32: 2021 Financials and 2022 Guidance
30% Revenue Growth (Non-GAAP)(1) ADJUSTED EBITDA MARGIN 32 CONFIDENTIAL 2021 FINANCIAL GUIDANCE 5 53% 2022E 35-40% 50% (2) (1) Calculated based on Non-GAAP revenue. Non-GAAP revenue is a Non-GAAP measure. See Appendix for an explanation of how Non-GAAP revenue is calculated from revenue / net income
Slide 33: Operating Metrics Benchmarking
CY2021 CY2021 CY2021 DATING SOCIAL MEDIA & ADS 2021 GAAP Revenue Growth Sales & Marketing Expense as % of Revenue Adj. EBITDA Margin(1) 2021 GAAP Revenue(in millions) OPERATING METRICS BENCHMARKING 33 CONFIDENTIAL 5 BUMBLE MATCH TWITTER SNAP PINTEREST N/A (1) Adjusted EBITDA margin for the year ende
Slide 34: Appendix
APPENDIX
Slide 35: Historical Annual GAAP Income Statement
HISTORICAL ANNUAL GAAP INCOME STATEMENT 35 CONFIDENTIAL
Slide 36: Non-GAAP Reconciliation
36 CONFIDENTIAL NON-GAAP RECONCILIATION (1) The $8.2M and $0.9M in non-GAAP revenue adjustments in 2020 and 2021 respectively are purchase accounting deferred revenue adjustments related to the San Vicente acquisition. These adjustments are included as a subset of the total “non-core expenses/losses
Slide 37: Risks Related to Grindr's Business
37 CONFIDENTIAL Risks Related to Grindr’s Business Risks Related to Grindr’s Brand, Products and Services, and OperationsGrindr’s business depends on the strength and market perception of the Grindr brand. If events occur that damage Grindr’s reputation and brand, its ability to expand its base of u
Slide 38: Risks Related to Tiga and the Business Combination
38 CONFIDENTIAL Risks Related to Tiga and the Business Combination The Sponsor and the independent directors of Tiga have agreed to vote in favor of the Business Combination, regardless of how Tiga’s public shareholders vote.The Sponsor, certain members of the Tiga board of directors and certain Tig
Slide 39: Definitions
DEFINITIONS 39 CONFIDENTIAL “ARPU ”are to Average Total Revenue per User, which is calculated based on Total Revenue in any measurement period, divided by our MAUs in such a period divided by the number of months in the period.“ARPPU ” are to the Average Direct Revenue per Paying User, which is calc