Match Group announced on April 27 a $100 million minority investment in Sniffies, a map-based digital platform serving non-heterosexual men. The agreement gives Match Group the option to acquire the remaining equity in Sniffies at a later date.
The move highlights Match Group’s focus on supporting platforms with strong connections to their communities and product-market fit. The company said it has used this approach before, such as with its initial investment in Hinge prior to full acquisition. Under the new arrangement, Sniffies will remain independent and continue under its current leadership while receiving support from Match Group.
Spencer Rascoff, Chief Executive Officer of Match Group, said, “From the first time I met the Sniffies team a year ago, it was clear they had a deep understanding of their users and a strong point of view on how its community actually connects – in a way that’s honest and unapologetic. That conviction has only strengthened over time as we’ve seen how thoughtfully they’ve built the product. There’s also clear and growing demand in this space, and Sniffies feels genuinely different and authentic to its audience. We’re excited to support the founders as they continue to build on their vision.”
Sniffies reports an estimated 3 million monthly active users worldwide who send more than 20 million messages daily through its real-time map interface for connecting men seeking flexible interactions. Blake Gallagher, Founder and CEO of Sniffies, said, “This investment allows us to keep building for our community while staying true to what makes Sniffies unique… With Match Group’s support, we can move faster on improving the product and expanding our network, while continuing to invest in Trust & Safety and giving our users more of what they’re looking for.” Wolfson Partners LLC acted as financial advisor for Sniffies during this transaction.
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