Documents leaked as part of the Ashley Madison hacking scandal have revealed the state of gay dating app company Grindr’s finances, showing projected revenues of $38 million for the year 2015.
Emails from Ashley Madison CEO Noel Biderman show that parent company Avid Life Media was considering acquiring Grindr and the financial documents, marked ‘private and confidential,’ appear to be part of a presentation to spruik the deal.
According to the documents Grindr had revenues of close to $16 million in 2012, growing to $24 million the following year and the company is projecting revenue growth of around $10 million per year.
The company’s projections go as far as 2018 when Grindr expects to be raking in as much as $77 million in combined revenue from member subscription fees and advertising.
An accompanying graph estimates the time Grindr users spend on social networks – claiming they spend as much as 54 minutes a day on the app – compared to 42 minutes for Facebook users.
Users of the closest ranked dating app, Tinder, only spent around 15 minutes per day on the app.
The app continues to have its largest user base in the United States, with close to 1.3 million monthly active users.
Other top Grindr using countries included the United Kingdom, Brazil and France in that order.
The documents say Grindr has around 10.5 million users worldwide with 3.8 of those using the app at least once a month.
It is unknown whether Avid Life Media is still interested in Grindr or whether it is still in a position to acquire it following the hacking scandal that saw the personal details of more than 30 million users of the infidelity dating site Ashley Madison leaked online.
Grindr is yet to address the leak of the documents via its website or social media accounts.