Company case study
Gib-Jab
Gib-Jab is an online greeting card and social media service that allows users to create personalized greeting cards. It came up on My First Million, hosted by Sam Parr and Shaan Puri, in the episode "How two straight guys bought Grindr and made $2B" (aired October 13, 2025).
At a glance
| Podcast | My First Million |
|---|---|
| Hosted by | Sam Parr and Shaan Puri |
| Episode | How two straight guys bought Grindr and made $2B |
| Aired | October 13, 2025 |
| Revenue and traction | The business was generating about $5 million in EBITDA and was purchased for $20 million, a four times multiple. |
| Category | E-commerce |
Figures and claims are as told on the episode, summarized from the transcript. Check the date: they describe the company at the time it aired.
What the episode said
How two straight guys bought Grindr and made $2B · aired October 13, 2025 · hosted by Sam Parr and Shaan Puri
Why it works
Acquired for a low multiple of EBITDA, the business generated significant cash flow, allowing for quick debt repayment and reinvestment.
The playbook
The strategy involved leveraging debt strategically to finance growth and focusing on operational efficiency to improve cash flow.
Also mentioned
After acquisition, the business was able to recapitalize and buy out half the investors within three years.
Why this works now (our analysis)
Mailchimp's integration with Shopify enables Gib-Jab to reach a wide audience by automating personalized email campaigns for greeting card promotions. To generate initial revenue, the founders could target the r/Etsy subreddit, where they can connect with users interested in personalized gifts. A significant risk for the business is its dependence on user-generated content, which may lead to inconsistent quality and potential legal issues surrounding copyright if designs closely resemble existing works.