FORTUNE MAGAZINE - Faye Iosotaluno, the new CEO of Tinder, acknowledges the need for urgency and speed in addressing challenges facing the dating app. Tinder, responsible for over half of Match Group's $3.4B annual revenue, has seen a 5% drop in paid users YOY in 2023. The app faces competition for relevance, especially with Gen Z users seeking alternatives to the traditional "swipe" feature. Additionally, Tinder is dealing with a lawsuit accusing it of turning users into "addicts" for profit, which the company denies. Iosotaluno, who has been with Match since 2017 and served as Tinder's COO, aims to drive high-quality paying users and revenue in 2024. She acknowledges that Tinder has "dropped the ball" on women's experiences and envisions a product that prioritizes users' best interests.
by Emma Hinchliffe & Joseph Abrams
See full article at Fortune Magazine
See the top news on Tinder
