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Match just made a $100 million bet that Sniffies can challenge Grindr [Los Angeles Times (CA)]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
Seattle-based Sniffies, which has about 3 million monthly active users worldwide, provides gay men a real-time map that often features intimate user-submitted images, an experience designed to help users find potential hookups. Sniffies is currently a web-only platform, having been removed from Apple Inc.'s App Store last year due to what Sniffies described as content restrictions. The new investment represents a significant minority ownership stake and includes the option to acquire the remaining equity in the future, Match said in a statement on Monday. The company declined to comment on whether it plans to try again to get the platform onto the App Store or a competing marketplace. The news caused shares of Grindr Inc., the leading dating-app company for gay men, to fall 2.5% in extended trading. Match's stock was little changed. Match has expanded its portfolio of more than 20 apps through several acquisitions, sometimes starting off with an investment, as it's doing with Sni
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