Match Group (NASDAQ: MTCH) invested $100 million for a significant minority stake in Sniffies. Sniffies operates as a web-based cruising platform for queer men.
The agreement includes a future option for Match Group to acquire the remaining equity. This strategy mirrors the approach Match Group previously used to acquire the Hinge brand.
Sniffies currently reports approximately 3 million monthly active users globally. The company will continue to operate as an independent, founder-led entity.
The investment allows Match Group to compete more directly with market leader Grindr. Match Group’s existing portfolio includes major dating platforms Tinder and Hinge.