Grindr Inc. · NYSE:GRND
Grindr — Tiga Acquisition — SPAC Merger (September 2022)
39 slides from Grindr's SPAC merger presentation, Sep 15, 2022
Slide 1: Grindr Investor Presentation September 2022
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER
Slide 3: Legal Disclaimer
LEGAL DISCLAIMER
Slide 4: Introduction to Tiga
INTRODUCTION TO TIGA ful track record of more than 46 years investing across multip blic and private equity, credit and special situat F FARALLON FARALLON GOLDMAN SACHS GOLDMAN SACHS KOTAK ~« »» G. Raymond Zage Ashish Gupta Chairman & TIGA Director & President REPRESENTATIVE INVESTMENT EXPERIENCE GO
Slide 5: Transaction Overview
TRANSACTION OVERVIEW Frserms Stare Oommen mar Eeunyvate Bare ‘Frtrms trerae oon Rams ILLUSTRATIVE PRO-FORMA OWNERSHIP?
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 Community At Its Core A Rapidly Growing TAM is 0 mmnunity Large and growing addressable market ‘irst-Mover Advantage i cading player in the LGB) a Competitive maat w Unique global brand growth & netwar
Slide 7: Proposed Board of Directors
PROPOSED BOARD OF DIRECTORS MICHAEL GEARON MEGHAN STABLER JAMES LU DANIEL BROOKS BAER 6G. RAYMOND ZAGE S ‘s @ & GARY HOROWITZ —-NATHANRICHARDSON —-GEORGE ARISON MAGGIE LOWER REPRESENTATIVE BOARD EXPERIENCE ATLANTA HAWKS BASEKETBALL CLUB PLANNED PARENTHOOD CHESS GoTo TOSHIBA VENTURE FOR AMERICA —_INV
Slide 8: Introduction
INTRODUCTION |
Slide 9: Connect LGBTQ+ people with one another and the world
Connect LGBTQ+ 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 ata time. Hey. whet up?
Slide 12: We Are the Digital Connective Tissue for the Global LGBTQ+ Community
WE ARE THE DIGITAL CONNECTIVE TISSUE FOR THE GLOBAL LGBTQ+ COMMUNITY in @ eeee What LGBTQ+ people are looking for... CASUAL LOCAL & DATING o aA DISCOVERY RELATIONSHIPS & LONG-TERM TRAVEL DATING COMMUNITY & FRIENDSHIP
Slide 13: Grindr by the Numbers
GRINDR BY THE NUMBERS NON-GAAP REVENUE & ADJUSTED EBITDA 1H 2022 YoY GROWTH” 42% 26% Non-GAAPRevenue Adj. EBITDA sia sum s10%m 2017 2018 ~—-2019-=—2020,» 2021-12021 112022 MINon-GAAP Revenue = Adj. EBITDA
Slide 14: Massive and Untapped Global Market
MASSIVE AND UNTAPPED GLOBAL MARKET FUTURE OPPORTUNITY $14 Trillion Estimated total GDP of self identifying LGBTQ+ Population in 2026! Grindr services targeted to Marketplace, Travel, Health & Wellness, Entertainment & beyond would address significant portions of the estimated $14 trillion total GDP
Slide 15: Introducing the Grindr Team
INTRODUCING THE GRINDR TEAM @OONOs 2G0006 PRIOR COMPANY EXPERIENCE EHARMONY EXPEDIA GOLDMAN SACHS. GOOGLE okcUPID SHOPRUNNER TINDER UBER VERIZON DISNEY YAHOO!
Slide 16: Investment Highlights
INVESTMENT HIGHLIGHTS |
Slide 17: Investment Highlights
GkhOh = 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 us
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 relat publicly trade Testament to strength of brand, product, and c nity
Slide 19: Just Beginning to Pull Our Monetization Growth Levers
JUST BEGINNING TO PULL OUR MONETIZATION GROWTH LEVERS SW ornedr BUMBLE TINDER anpeu “37
Slide 20: Monetization
1 MONETIZATION | ssa ‘ADVERTISING & : PARTNERSHIPS XTRA , UNLIMITED , Access Efficiency & Control trem features for 8 Provides united acess, subscription fe Control and customization 2 Pre ex © More Functionality ore Functionality © Untimited Connections More Gomectons INDIRECT REVENUE DIRECT REVENU
Slide 21: Our Core Market Is Growing Rapidly
OUR CORE MARKET IS GROWING RAPIDLY ESTIMATED GLOBAL SELF-DENTIFIED LOBTO+ POPULATION"? % OF GLOBAL POPULATION IDENTIFYING AS LGBTQ, BY AGE GROUP"! smesettsentied oBTOsPopustion sof Total Peputation teak ase as —s0-8e ase ‘Our ~ 1) yalom he current ettidentii LOBTO® pao" of 98 implies ust pore tron g
Slide 22: Highly Coveted User Demographic with Unique Value Drivers
IHLY COVETED USER DEMOGRAPHIC WITH UNIQUE VALUE DRIVERS KEY USER DEMOGRAPHICS") 36% BS ywunsotanos
Slide 23: 80% of Grindr Profiles Are Aged 18-35
2 80% OF GRINDR PROFILES ARE AGED 18-35 GRINDR PROFILES AGE DISTRIBUTION" ate 1% 18-23 36-40 27% % 30-35 20% 26-29 33% 80% of Grindr profiles are aged 18-35 Tremendous engagement with highly attractive, core young user Average age of our user base has remained young Profile age distribution has rema
Slide 24: Grindr Is Differentiated from Mainstream Dating Brands
GRINDR IS DIFFERENTIATED FROM MAINSTREAM DATING BRANDS WS Orinks | | ecting the LesTascommunity ~11M ~61min 190+
Slide 25: Grindr Is Established in the Social Conversation
3 GRINDR IS ESTABLISHED IN THE SOCIAL CONVERSATION SOCIAL MEDIA FOLLOWING (000's}'”” FOLLOWERS AS A % OF MAUs') Instagram Instagram Twitter
Slide 26: Our User Engagement Is Unparalleled
4 OUR USER ENGAGEMENT IS UNPARALLELED AVERAGE TIME SPENT ON APP PER DAY (MINUTES)! ric FACEBOOK 33 TWITTER 31 INSTAGRAM 29 SNAPCHAT 28
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
Slide 29: New Ways to Build Community for Our Users
NEW WAYS TO BUILD COMMUNITY FOR OUR USERS BETTER CONNECTIONS IDENTITY EXPRESSION TAG SEARCH COMMUNITY My Taps 208 Hey there 26
Slide 30: Organic Growth Propels Revenue and Margins
ORGANIC GROWTH PROPELS REVENUE AND MARGINS NON-GAAP REVENUE" ADJUSTED EBITDA"! som ‘7 ssom Soom som 2017 2018-2019 2020202112021 1H 2022 sum 2017 2018 52% $30 20192020 ©2021 1H 2021 ‘Ad), EBITDA —Adj, EBITDA Margin He ad 1H 2022
Slide 31: Established Playbook to Greater Monetization
ESTABLISHED PLAYBOOK TO GREATER __ MONETIZATION Sorin ‘Annual MAU"? ~11M Paying Users! 765K penevaton Rate ~b% Monthly ARPPU) ~$17 Adj, EBITDA Margins!) 46%
Slide 32: Financial Guidance
5 FINANCIAL GUIDANCE 2021 2022E" Revenue cenit 30% => 30-35% GAAP} ADJUSTED EBITDA 53% > 42-45% MARGIN 3
Slide 33: Operating Metrics Benchmarking
5 OPERATING M ETRICS BENCHMARKING barine SOCIAL MEDIA ADS Sornds ~ sme reer) wren snap INTEREST | urwiaeat Sec LTM GAAP — $6,539 Revenue sam BB = sane in mitions} $173 seuo LS = — — — | -— LTM GAAP 7 Revenue Growth 2% 20% 1% bund u% — = — om Adj, EBITDA an Margin) | | a Sales & i Marketing biniad Ex
Slide 34: Appendix
Slide 35: Historical Annual GAAP Income Statement
HISTORICAL ANNUAL GAAP INCOME STATEMENT 2019 2020 2021 2021 2 (Sin miions) FYloudited) _FYlaudted! FY outed! 1H (urauted) 1H lunaudited) Operating costs and expenses Cost of revenue exclusive of deprecation and amortization shown separately below) sms $14 sis sas Seling, general and administrative e
Slide 36: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION ee ee {in matenn) FY lauded! _FYiaudted_FYIaudted 1H uwudted 1H unas ne sr aa ee er Non-ore even sen $2 $7 ___ $09 = —_— ey sie ar sas er ‘Retincere Reset essa Tl interest expense camel nt wil sas ——‘$187 $108 $42 (lIneame ux proven one sels (1 Deprectn and amertton sms $a 32
Slide 37: Risk Factors Summary
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Slide 38: Risk Factors Summary
RISK FACTORS SUMMARY z i z Py
Slide 39: Definitions
DEFINITIONS "ARPU is Average Total Revenue per User, which is calculated based on Total Revenue in any measurement periad, divided by our MAUS in such a period divided by the number of months in the period. "ARPPU "is the Average Direct Revenue per Paying User, which is calculated based on Direct Re