Grindr LLC is looking for more than just a hookup: The application for gay men is seeking a buyer. Grindr, based in Los Angeles, has hired Raine Group LLC to advise it on a possible sale, people familiar with the matter said. The sale process is early and no deal is assured, said the people, who asked not to be named because the process is still private. The people didn’t know what valuation Grindr might fetch in a sale. The service helps gay men connect online by using location-based software. Joel Simkhai founded Grindr in 2009 with $5,000. Four years later, the company is still self-funded with no outside investors, and charges about $12 a month, Simkhai said in a Bloomberg TV interview April 17.
(Tipped by JMG reader James)