Grindr appoints Chad Cohen as Audit Committee Chair

WEST HOLLYWOOD, Calif. - Grindr Inc. (NYSE: GRND), a prominent social platform for the gay community, announced today the appointment of Chad Cohen to its Board of Directors and as the Chair of the Audit Committee. Cohen, recognized for his financial leadership at Zillow Group Inc. (Nasdaq: Z) and Adaptive Biotechnologies Corp. (Nasdaq: ADPT), brings extensive experience in guiding technology companies through periods of significant growth.

Cohen’s professional background includes key roles in leading companies to successful initial public offerings (IPOs) and managing their expansion. His previous positions include Chief Financial Officer at Capella Space and Adaptive Biotechnologies, as well as Chief Operating Officer at Capella Space. During his tenure, Adaptive Biotechnologies (ADPT) has shown remarkable performance, with InvestingPro data showing a 188.5% return over the past year and strong financial health metrics. Additionally, Cohen has held board and audit committee leadership roles at Vacasa, Inc. (Nasdaq: VCSA), Trupanion, Inc. (Nasdaq: TRUP), and currently serves as Founding Partner and CEO at Scala Advisors, LLC.

Grindr CEO George Arison expressed confidence in Cohen’s ability to contribute to the company’s growth, stating his broad experience will be an invaluable asset. Arison also acknowledged the contributions of Gary Horowitz, who stepped down from the board, and Nathan Richardson, who will continue his tenure on the Board and the Audit Committee.

Cohen’s appointment coincides with Grindr’s continued expansion and its established position as a leading dating app within the LGBTQ+ community. With over 14.5 million average monthly active users, Grindr operates globally, offering a platform for connection and expression in 190 countries and territories.

The company, which has been public for three years, emphasizes its commitment to advancing human rights, health, and safety for LGBTQ+ individuals through its initiative Grindr for Equality. The addition of Cohen to the Board is part of Grindr’s ongoing efforts to strengthen its governance and strategic direction. According to InvestingPro, Adaptive Biotechnologies currently maintains strong liquidity with a current ratio of 2.92, while analysts have recently revised their earnings expectations upward. For deeper insights into both companies’ financial health and growth prospects, investors can access comprehensive Pro Research Reports, available exclusively on InvestingPro.

This news is based on a press release statement from Grindr Inc.

In other recent news, Adaptive Biotechnologies has reported impressive first-quarter financial results, surpassing analyst expectations. The company posted a smaller-than-expected loss per share of ($0.20) against a forecasted ($0.29) and achieved revenue of $52.44 million, exceeding the anticipated $42.81 million. This reflects a 25% increase in revenue year-over-year, largely driven by a 34% rise in their Minimal Residual Disease (MRD) business. Adaptive Biotechnologies also raised its full-year MRD revenue guidance to between $180 million and $190 million. The company has reduced its operating expenses by 9%, leading to an improved forecast for annual cash burn, now expected to be between $50 million and $60 million.

BTIG analysts have responded positively, raising the price target for Adaptive Biotechnologies’ stock to $11.00 from $10.00, while maintaining a Buy rating. This optimism is based on the company’s robust MRD business performance and its strategic efforts to achieve positive adjusted EBITDA by the second half of 2025. The clonoSEQ test, a key product for Adaptive Biotechnologies, is set to be featured in 30 scientific presentations at major medical meetings, emphasizing its clinical utility in managing blood cancers. These developments indicate strong momentum for the company, with investors and analysts showing confidence in its growth trajectory.

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