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Match Group invests $100 million in Grindr rival Sniffies, with future option to acquire the startup

Tinder owner Match Group has invested $100 million in Sniffies — a gay hookup site that’s earned a reputation as a raunchier rival to Grindr — in a deal that gives it an option to acquire the startup in the future.

It would not be Match’s first investment turned acquisition, having pulled the same strategy with Hinge, its currently fastest-growing app. Match will be sunsetting its existing gay dating app, Archer, and focusing its attention on Sniffies, the company told Bloomberg. The announcement sent Grindr slipping in after-hours trading.

Unlike Grindr, which must abide by Apple’s App Store rules, the privately held Sniffies is a website and isn’t bound by the same restrictions. Users can make their profile photos explicit images and enjoy wider anonymity. This has, however, subjected the platform to increasingly common government restrictions on porn sites.

Sniffies has 3 million monthly active users globally, according to Match Group, compared to the 15.2 million on Grindr in the last quarter of 2025. Still, it has grown massively in popularity, clocking 60 million page visits in March, up 60% from last year, per Similarweb figures.

Sniffies founder and CEO Blake Gallagher said the investment “unlocks our ability to move faster on the things that matter most: stronger trust & safety, better product, and a more dynamic network.”

Unlike Grindr, which must abide by Apple’s App Store rules, the privately held Sniffies is a website and isn’t bound by the same restrictions. Users can make their profile photos explicit images and enjoy wider anonymity. This has, however, subjected the platform to increasingly common government restrictions on porn sites.

Sniffies has 3 million monthly active users globally, according to Match Group, compared to the 15.2 million on Grindr in the last quarter of 2025. Still, it has grown massively in popularity, clocking 60 million page visits in March, up 60% from last year, per Similarweb figures.

Sniffies founder and CEO Blake Gallagher said the investment “unlocks our ability to move faster on the things that matter most: stronger trust & safety, better product, and a more dynamic network.”

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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