Grindr Inc. · NYSE:GRND
Grindr — SPAC Merger (May 2022)
39 slides from Grindr's SPAC merger presentation, May 10, 2022
Slide 1: Investor Presentation May 2022
INVESTOR PRESENTATION MAY 2022
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER 1 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 2 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
INTRODUCTION TO TIGA Successful track record of more than 46 years investing across multiple strategies including public and private equity, credit and special situations FARALLON (, | FARALLON GOLDMAN SACHS GOLDMAN SACHS S KOTAK ¢d 9 i 2 G. Raymond Zage Ashish Gupta Chairman & CEO Til G A Director
Slide 5: Transaction Overview
TRANSACTION OVERVIEW * Tiga Acquisition Corp, a publicly listed SPAC, to combine with Grindr * Grindr rollover equity to be valued at $1.6 billion + — Tiga sponsor to invest up to $100 million in additional cash equity pursuant to forward purchase agreement’ + Existing Grindr shareholders to own app
Slide 6: What We Love About Grindr
WHAT WE LOVE ABOUT GRINDR Grindr’s platform is purpose-built to help foster a tight-knit community Rapidly Growing TAM Large and growing addressable market Community At Its Core Grindr is essential to the LGBTQ+ community Compelling Competitive Advantage Competitive moat with high engagement, MAU gr
Slide 7: Proposed Board of Directors
PROPOSED BOARD OF DIRECTORS MICHAEL GEARON MEGHAN STABLER JAMES LU DANIEL BROOKS BAER G. RAYMOND ZAGE ilies. , 2 4 4 > GARY HOROWITZ NATHAN RICHARDSON GEORGE ARISON MAGGIE LOWER JEFF BONFORTE REPRESENTATIVE BOARD EXPERIENCE ATLANTA HAWKS BASEKETBALL CLUB PLANNED PARENTHOOD CHEGG GOTO TOSHIBA ‘WILN3G
Slide 8: Introduction
INTRODUCTION
Slide 9: Our Mission
OUR MISSION Connect LGBT Q+ people with one another and the world.
Slide 10: The #1 Social Network for the LGBTQ+ Community
THE #1 SOCIAL NETWORK FOR THE LGBTQ+ COMMUNITY WE PROVIDE OUR USERS WITH UNRIVALED ACCESS, RESOURCES, AND OPPORTUNITIES TO CONNECT IDENTITY Create, manage, and control user identity and presence Profile, Photos, Description, Stats, Expectations, Identity, Tags CONNECTING Easily find and be found by
Slide 11: Fundamentally Different Than Traditional Dating Apps
FUNDAMENTALLY DIFFERENT THAN TRADITIONAL DATING APPS No swiping means users get access to the global LGBTQ+ community. Free users can access the closest 100 people at atime. WILNAGIANO9
Slide 12: We Are the Digital Connective Tissue for the Global LGBTQ+ Community
WE ARE THE DIGITAL CONNECTIVE TISSUE FOR THE GLOBAL LGBTQ+ COMMUNITY c) 1) itt Q What LGBTQ+ people are looking for... CASUAL LOCAL & DATING o aA DISCOVERY = 1 RELATIONSHIPS & LONG-TERM TRAVEL DATING COMMUNITY & FRIENDSHIP
Slide 13: Grindr by the Numbers
GRINDR BY THE NUMBERS NON-GAAP REVENUE & ADJUSTED EBITDA $147M 85% 61 min Brand Average daily awareness!) time spent!) 2021 YoY GROWTH” 30% 52% Non-GAAP Revenue Adj.EBITDA $109M $113M $87M ~11M 723K Dec 2021 Paying Users'4! ~80% 190+ User Profiles Are Countries With 35 ¥/0 Or Younger! Profiles $66M
Slide 14: Massive and Untapped Global Market
MASSIVE AND UNTAPPED GLOBAL MARKET CT $14 Trillion Online Social Networks Estimated total GDP of self identifying Used by LG BTQ+!1 LGBTQ+ Population in 2026!) Grindr services targeted to Marketplace, Travel, Health & Wellness, Entertainment & beyond would address significant portions of the $14 tri
Slide 15: Introducing the Grindr Team
INTRODUCING THE GRINDR TEAM @ VP, MOBILE ENGINEERING VP, FINANCE CHIEF PRIVACY ciso VP, HEAD OF VP, PEOPLE & VP, BUSINESS & VP, BACK-END OFFICER COMMUNICATION PLACES LEGAL AFFAIRS ENGINEERING PRIOR COMPANY EXPERIENCE CISCO EHARMONY EXPEDIA GOLDMAN SACHS GOOGLE HEARST SHOPRUNNER TINDER UBER VERIZON D
Slide 16: Highlights
HIGHLIGHT:
Slide 17: Investment Highlights
Cl mh @ Nh = 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- rangi
Slide 18: Rapidly Growing and Highly Profitable Business
RAPIDLY GROWING AND HIGHLY PROFITABLE BUSINESS HIGH NON-GAAP MINIMAL MARKETING BEST-IN-CLASS ADJUSTED REVENUE GROWTH" SPEND AS % OF REVENUE”! EBITDA MARGIN PROFILE"! Very attractive relative to Testament to strength of Consistent historical publicly traded peers brand, product, and Adj. EBITDA margi
Slide 19: Just Beginning to Pull Our Monetization Growth Levers
JUST BEGINNING TO PULL OUR MONETIZATION GROWTH LEVERS © Orindr BUMBLE TINDER ARPPU!) ~$16 $30 $13 Paying User . Penetration?) e% Premium Tier Subscriptions XTRA, Unlimited 3 miu U d nu Premium Add-Ons a1 2022 abel : : Local, Tag Search, Explore Others coming soon Product Adjacencies Duration Others
Slide 20: Monetization
MONETIZATION ADVERTISING & PARTNERSHIPS >) /_ ATRS ——\ /— UNLIMITED = “Exes. UN LIM ITED Access Efficiency & Control A La Carte Provides an initial set of premium features for a subscription fee Provides unlimited access, control, and customization for a premium price Provide enhanced user vy NoAds
Slide 21: Our Core Market Is Growing Rapidly
OUR CORE MARKET IS GROWING RAPIDLY ESTIMATED GLOBAL SELF-IDENTIFIED LGBTQ+ POPULATION” 2016 «2017 2018 2019 2020 2021 2022E 2023E 2024E 2025E 2026E ME Self-Identified LGBTQ+ Population % OF GLOBAL POPULATION IDENTIFYING AS LGBTQ+, BY AGE GROUP"! 13.4% 10.3% 6.8% ne 7 % of Total Population 2016 «2017
Slide 22: Highly Coveted User Demographic with Unique Value Drivers
HIGHLY COVETED USER DEMOGRAPHIC WITH UNIQUE VALUE DRIVERS KEY USER DEMOGRAPHICS"! $14T 30% 18% Higher median income in US male same-sex households compared to opposite sex households More spent per capita on recreational activities by US LGBTQ+ population vs. general population Estimated total GDP o
Slide 23: 80% of Grindr Profiles Are Aged 18-35
2 80% OF GRINDR PROFILES ARE AGED 18-35 GRINDR PROFILES AGE DISTRIBUTION"! 41 A - 11% 80% of Grindr profiles are aged 18-35 Tremendous engagement with highly 18-23 attractive, core young user 36-40 27% Average age of our user base has remained young 9% Profile age distribution has remained consisten
Slide 24: Grindr Is Differentiated from Mainstream Dating Brands
Market Positioning Monthly Active Users!) Daily Time Spent Per User!) # Of Countries GRINDR IS DIFFERENTIATED FROM MAINSTREAM DATING BRANDS © Grindr Connecting the LGBTQ+ community ~11M ~61 min WILNAGIANO9 yp &
Slide 25: Grindr Is Established in the Social Conversation
GRINDR IS ESTABLISHED IN THE SOCIAL CONVERSATION SOCIAL MEDIA FOLLOWING (000’s)!"! FOLLOWERS AS A % OF MAUs'?! Instagram YouTube Twitter |Grindr mTinder M|Grindr = Tinder 473 Instagram 397 114 258 0.7% YouTube 0.2% P| 2.4% 0.4% 211 Twitter 9 4% % WILNAGIANO9 n a
Slide 26: Our User Engagement Is Unparalleled
4 OUR USER ENGAGEMENT IS UNPARALLELED AVERAGE TIME SPENT ON APP PER DAY (MINUTES) ~ cin [NNN “WILN3GIANOD y oe
Slide 27: Superior Engagement Driven by Scale, Technology & Local Community Focus
SUPERIOR ENGAGEMENT DRIVEN BY SCALE, TECHNOLOGY & LOCAL COMMUNITY FOCUS SCALE « First Mover Advantage ¢ Market Leader * User Density in Key Geographies LOCATION-BASED INTERFACE * Higher-Value Connections * Instant Feedback * Streamlined Product Enhancement REAL-TIME CONNECTION * Higher Engagement +
Slide 28: Product Roadmap Focused on Super Serving Our Community
PRODUCT ROADMAP FOCUSED ON SUPER SERVING OUR COMMUNITY LOCATION-BASED INTERFACE DRIVES ENGAGEMENT, GROWTH, AND PRODUCT INNOVATION 2009 TODAY FUTURE Casual dating for gay men LGBTQ+ casual, dating, social, community Super serving the community Improve core user experience to drive better engagement a
Slide 29: New Ways to Build Community
NEW WAYS TO BUILD COMMUNITY IDENTITY EXPRESSION My Tags 2/8 bear college adventurous anime —art beach = bear = beard ~—ibii brunch —catperson chill cleancut —_college_—_concerts condoms confident cooking couple cub cuddling curious dancing dating —direct_~—_ discreet diy dogperson drag _-—drugfree F
Slide 30: Organic Growth Propels Revenue and Margins
ORGANIC GROWTH PROPELS REVENUE AND MARGINS NON-GAAP REVENUE") ADJUSTED EBITDA"?! 11M $8M bd 2 Ss z om i a 2016 2017 2018 2019 2020 2021 2016 2017 2018 2019 2020 2021 2 2 lm Adj. EBITDA ==—-Adj. EBITDA Margin {1) Calculated based on Non-GAAP revenue, Non-GAAP revenue is @ Non-GAAP measure. See Append
Slide 31: Established Playbook to Greater Monetization
ESTABLISHED PLAYBOOK TO GREATER MONETIZATION Annual MAUs") Annual Paying Users(2) Paying User Penetration Rate Monthly ARPPU®! Adj. EBITDA Margins!®) Sccauncnencefsnenenccessedesususscucccstucsecsesossssbacceucencnesdecersneee WILNAGIANO9 2
Slide 32: Financial Guidance
IA FINANCIAL GUIDANCE 2021 2022E” pie 0% D> 35-40% GAAP)") ADJUSTED EBITDA 53% => 45-50% MARGIN 8 z a 3 a z 2 5 z
Slide 33: Operating Metrics Benchmarking
OPERATING METRICS BENCHMARKING DATING SOCIAL MEDIA & ADS 1°] Grinds BUMBLE MATCH TWITTER SNAP PINTEREST 2021 GAAP $5,077 $4,117 Revenue $2,983 | $2,578 (in mitti $766 in millions} $146 | || a 64% 2021 GAAP 39% 37% 52% Revenue 32% 25% cos = 53% rr EBITDA, 31% jargin ann 14% 16% a |_| Sales & Dae A 9
Slide 34: Appendix
APPENDIX e
Slide 35: Historical Annual GAAP Income Statement
HISTORICAL ANNUAL GAAP INCOME STATEMENT ($ in millions} 2019 2020 2021 Revenues $108.7 $104.5 $145.8 Operating costs and expenses Cost of revenue (exclusive of depreciation and amortization shown separately below) $27.5 $31.4 $37.4 Selling, general and administrative expenses $32.6 $31.3 $30.5 Produ
Slide 36: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION ($ in millions} Non-core revenue adjustments (+] Interest [expense] income, net $0.4 $15.4 $18.7 (+] Income tax provision (benefit) $2.4 ($2.6) $1.2 (+) Depreciation and amortization $27.4 $28.3 $43.2 (+) Stock-based compensation expense $4.6 $0.2 $2.6 $6.1 $22.6 $6.3 (+) Non
Slide 37: Risks Related to Grindr's Business
Risks Related to Grindr’s Business Risks Related to Grindr’s Brand, Products and Services, and Operations * Grindr’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 users may be i
Slide 38: Risks Related to Tiga and the Business Combination
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 Tige board of directors and certain Tiga officers
Slide 39: Definitions
DEFINITIONS “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 calculated based on