It’s global both domestic and international. And it’s really a drumbeat of continuously tweaking our products and getting more users out there
George Arison: And I think through kind of what are the products that we’re building and where they’re going. So first of all, we have Investor Day coming up in June. And so I’m really excited to have everyone there and I think we’ll do a fairly detailed look into what the product roadmap is and what are the things that we will be launching and how that interrelates to the growth that we’re planning from the revenue perspective. So, please stay tuned to that. And I’m really looking forward to telling everybody what we’re going to be doing. That said, the way we have been thinking about product development overall is both in creating products that will drive monetization and also building things for the entire user base, even if those users are not customers, because obviously they are very valuable users as well.
You want paying customers engaging with people who are not paying customers and so you want both. From that perspective for example, this quarter, the last quarter we released a huge update to our chat system. It’s a completely new architecture in our chat system, a very significant launch the most challenging technological company been in nearly a decade. And that’s obviously for everybody. Now we do envision that with that architectural change, we will be actually able to launch new features inside our inbox. There will be specific for paying customers and book the opportunity to convert more people to become paying customers. And so when we think about product development, we kind of think about it from both attracting new users to the product or maybe users who use some of the product before and are using it less now because they’re not getting what they wanted from their product.
That’s an example of for example, what dating features might do for us. As well as from the perspective of then taking those users or existing users and converting them to the paying customers.
Nick Jones: If I could sneak in one last question here and then I’ll hop back on the queue.
George Arison: Sure.
Nick Jones: In a slide deck, you guys put out earlier in the year. I think it was about 25% of MAUs are in the US roughly but your revenue in the US is quite a bit higher than next. But could you speak to I guess your ability to monetize so well in the US and maybe what it takes to kind of get similar monetization in some of the international markets or what the puts and takes are to monetization internationally versus in the US? Or maybe I have this wrong and you could just help clarify. Thanks.
Vanna Krantz: Sounds good. Nick, yes, you’re right. We have about one-fourth, one-third. We are nicely global in terms of our monthly active users with North America versus all the other regions. Absolutely true. From a revenue perspective think of it of around 40% of our revenue is coming outside of North America. And so clearly that’s giving you an indication that we are further along in terms of not only payer penetration, but obviously conversion as well in terms of North America versus the other regions. I think what you can also take from that is that we put out new product and we put it out globally. So we do a global launch for instance of the Weeklies with some level of localization, but quite minimal. And I think that we are continually testing how our products are landing in certain international markets and we will continue on our localization efforts to increase the conversion rates internationally.
I would say that we’re still early in that journey. But what’s pretty comforting is that even with a global rollout for instance the XTRA Weeklies like you noted they still performed very well globally.
George Arison: And Nick I guess we knew all that is amount of opportunity, right? The fact that we are penetrating well in the US that are still think below our peers in the dating space it’s a great opportunity to continue increasing penetration in the U.S. And the fact that rest of the world Europe and Latin America and Asia are below North America in penetration. I think you told you that over time you can drive that penetration to be higher as well. We’ve never really approached this business from a regional perspective and that’s something we’re just now starting to think about and then a mission from a localization perspective and that will be really helpful. And I drive thought after in of cultural changes like US and Europe in particular probably further for along in acceptance of gay rights and that makes it easier for people to retain for a product like us.
That change is happening very actively in Latin America. We were just in Argentina. So in Brazil a few weeks ago and the response to us being there and seeking was extremely positive. And so I think there’s a ton of opportunity in Latin America from that perspective. And then in Asia we probably — the pace of change culturally is the slowest right now. You are still seeing some significant changes happen right? Like Thailand is very actively working on passing gender equality as a law. And so that’s really positive as well. So I think we have a ton of opportunity to see penetration grow all over the world. Obviously it’s going to be a long journey right because we have a lot of room to grow, but we plan to take advantage of that.
Nick Jones: Thanks, George. Thanks, Vanna.
Operator: And we move next to Andrew Marok with Raymond James. Your line is open.
Andrew Marok: Hi. Thanks again for taking my question. I wanted to talk about the Right Now launch. It seems like a pretty interesting product and fairly differentiated in the marketplace. You talked about user feedback or user signals on intent that went into the development of that product. Can you maybe go a second level below and say what was it among the user base that said this is a product that we need to serve this unmet desire in our user base.
George Arison: Absolutely. I’m happy to talk about that and go to talk to you Andrew. So I think the way I would think about this as a following. When Grindr has started out as a company in its earlier days everyone who was on Grindr, kind of, thought of it as a Right Now product. That was kind of the reason you were there, right? And obviously it was both online and in some ways was going directly off-line as well. We see a huge differentiator of liner. And I can tell you my own personal story how I learned about Grindr where I was in a bar with a bunch of my friends and one of them pulled out his iPhone. And like hey let me tell you what this cool app I just discovered. He goes into Grindr and there are like 20 people in the bar all on the app at the same time.
