(Bloomberg) -- Grindr Inc.’s focus on the LGBTQ+ community promises faster revenue growth than the dating app industry titans, Match Group Inc. and Bumble Inc., according to the first Wall Street firm to rate the stock a buy.Most Read from BloombergBankman-Fried Is Sentenced to 25 Years in Prison Over FTX CollapseTesla’s $25,000 Car Means Tossing Out the 100-Year-Old Assembly LineDubai Is Losing Its Allure for Wealthy RussiansLondon Insurers Face Baltimore Bridge Payouts Worth BillionsUBS Banker
Tinder-owner Match Group named Instacart executive Laura Jones and Zillow co-founder Spencer Rascoff to its board on Monday, after talks with activist investor Elliott Investment Management to improve its performance. Jones is the chief marketing officer at Instacart while Rascoff has served as Zillow Group's CEO for a decade after co-founding the real estate firm in 2006. Match disclosed for the first time that it has an information-sharing deal with Elliott, whose push for change at the dating firm follows a big win for the hedge fund at wireless tower operator Crown Castle in December.
Jones is the chief marketing officer at Instacart while Rascoff has served as Zillow Group's CEO for a decade after co-founding the real estate firm in 2006. Match disclosed for the first time that it has an information-sharing deal with Elliott, whose push for change at the dating firm follows a big win for the hedge fund at wireless tower operator Crown Castle in December.