BUSINESS INSIDER - Match Group and Bumble have both appointed new CEOs amid leadership shake-ups and struggles with user engagement. Whitney Wolfe Herd has returned as Bumble CEO, replacing Lidiane Jones, who resigned after a year. Several top executives, including Bumble's CFO and CMO, have also left. Meanwhile, Match Group has named Spencer Rascoff as CEO, marking its fourth leadership change in six years. Both companies face declining stock prices (Match down 11%, Bumble down 54%) and shifting user behavior, with Match's paying users falling 5% to 9.5M, while Bumble's rose 11.5% to 4.1M. As Gen Z and women move away from traditional dating apps, both companies are focusing on safety features, AI-driven tools, and real-world dating initiatives to regain trust and engagement.
752 posts categorized "Match Group"
Match Group and Bumble Have New CEOs and a Renewed Safety Focus
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Tinder Owner's New CEO Signals Urgency to Rebuild User Trust
BLOOMBERG - Match Group's new CEO, Spencer Rascoff, prioritizes user trust, operational efficiency, and AI-driven improvements across Tinder and Hinge. He acknowledged that the apps have felt like a "numbers game" and pledged to refocus on real connections. The company will streamline operations, encourage employee feedback, and increase in-office collaboration. Match faces pressure from activist investors to reverse a decline in paying Tinder users and refine its corporate strategy. Tinder aims to improve safety features and user retention but doesn't expect growth to return until 2027.
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AI Is Changing Online Dating With Smarter Matches and Better Conversations
BBC - AI is being integrated into dating apps to help users craft bios, refine conversations, and suggest date ideas, with Match Group investing in AI-driven features to improve interactions. Despite concerns, over one in ten UK adults use online dating services, making it the most popular way to meet partners. While Tinder, Hinge, Bumble, and Grindr saw a drop in UK users between May 2023 and May 2024, dating apps continue to play a major role in modern relationships. AI tools aim to streamline the dating process, reduce awkward first interactions, and help users find compatible matches more efficiently. Meanwhile, a growing trend toward in-person dating events suggests that the future of dating will blend technology with real-world connections.
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Anson Funds Plans Proxy Fight at Match Group
REUTERS - Hedge fund Anson Funds is preparing a proxy fight at Match Group, aiming to nominate directors to its 10-member board as it pushes for cost cuts, governance changes, and a strategic review of MG Asia. Despite owning only 0.6% of Match, Anson has raised concerns over board connections, executive turnover, and the company's ties to former owner IAC/Interactive. Match's stock has dropped 67% in three years, making it a target for activist investors, including Elliott Investment Management and Starboard Value, who have also pressured the company for changes. Elliott secured two board seats after a $1 billion investment in early 2024. Anson, led by Sagar Gupta, argues that Match's response has been too slow, and with only three board seats up for election this year, investor frustration is growing, setting the stage for a heated boardroom battle.
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Gary Swidler to Step Down as Match Group President, Transitioning to Advisory Role
LINKEDIN - Gary Swidler will step down as President of Match Group next month and move into an advisory role until July. After nearly a decade in leadership, he sees this as the right time to step aside as the company transitions under new CEO Spencer Rascoff. With Hesam Hosseini, Sean Edgett, and Steve Bailey taking on expanded roles, Swidler is confident in the company's direction. He plans to take time off to travel and spend time with family before pursuing new leadership opportunities.
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Bumble Has Lost 92% of Is Value in 4 Years
BUSINESS INSIDER - Bumble's stock plunged 28% on Wednesday after weak first-quarter guidance disappointed investors, extending a 92% decline since its 2021 peak. Despite a Q4 revenue beat of $261.6M, the company forecasted $242M–$248M in Q1 sales, missing expectations. The drop is attributed to a temporary decline in paying users amid a brand refresh. Dating app fatigue and shifting user habits have made growth challenging, with rival Match Group also seeing a 79% drop since 2021. CEO Whitney Wolfe Herd remains optimistic, citing upcoming innovations aimed at reviving user engagement and revenue.
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Safer Internet Day: Yoel Roth Discusses Trust and Safety in Dating Apps
ECONOMIC TIMES - In an interview with The Economic Times, Yoel Roth, Head of Safety and Trust at Match Group, discussed the challenges and strategies for keeping dating apps secure. Responsible for building guardrails against fake IDs, data theft, and financial scams, Roth emphasized the importance of verification measures, AI-powered moderation, and user education to protect online daters.
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Match Group Knew About Repeat Rapists on Tinder and Hinge but Failed to Act
THE GUARDIAN - Match Group has knowingly allowed sexual predators to continue using its platforms despite multiple reports of assault. A Denver cardiologist, Stephen Matthews, was reported for rape at least 15 times yet remained active on Hinge and other Match-owned apps for years. He was only removed after his arrest in 2023 and later sentenced to 158 years in prison. Internal documents show that Match Group has tracked reports of rape and assault since 2016 but failed to act effectively or inform users. Their Sentinel system, designed to block banned users, was found to be easily bypassed. Despite promising a transparency report in 2020, the company never released it. Match Group responded to the investigation by stating that it is committed to safety, using AI tools, ID verification, and law enforcement partnerships. However, independent tests showed that banned users, including those reported for sexual assault, could easily rejoin the platform. In recent years, Match Group cut its internal safety team, outsourced moderation, and prioritized growth, leading to increased scrutiny from lawmakers.
by Emily Elena Dugdale & Hanisha Harjani
See full article at The Guardian
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Tinder Turns to AI Matching Amid Declining Users and Revenue
TECH CRUNCH - Tinder is introducing AI-powered matching to counter declining user engagement and revenue. The new feature aims to provide personalized recommendations beyond traditional swiping, though swiping will remain. Tinder’s global user base continues to shrink, with monthly active users down 8% in January and direct revenue missing forecasts at $476M. Match Group's new CEO, Spencer Rascoff, sees AI as a game-changer, likening its potential impact to the mobile revolution.
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Match Group Shares Drop as Spencer Rascoff Named CEO Amid Growth Concerns
MARKETWATCH - Match Group shares dropped 7.5% after appointing Spencer Rascoff as CEO, replacing Bernard Kim, amid ongoing concerns about growth. Rascoff, a board member linked to activist investor Elliott Management, emphasized execution and accountability, even committing to a $2M stock purchase. Despite exceeding Q4 revenue expectations, Tinder's revenue fell 3.4%, with declining paying users. Activist investors, including Starboard Value, have pressured Match to improve Tinder's performance or consider going private.
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Spencer Rascoff Named CEO of Match Group
REUTERS - Match Group appointed Spencer Rascoff as its new CEO amid declining user engagement and a weaker-than-expected revenue forecast. Shares fell 9% after the company projected 2025 revenue between $3.38B and $3.50B, below analysts' estimates. The company continues to face slowing demand, increased competition, and declining paying users, which fell 4% in Q4, marking the ninth consecutive quarter of decline. Spencer Rascoff is succeeding Bernard Kim. Rascoff, a former Zillow CEO and co-founder of Hotwire and Pacaso, has been on Match Group's Board since 2024 and brings extensive experience in scaling consumer tech businesses. Rascoff aims to drive the next phase of growth.
by Judy Babu
See full article at Reuters
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Match Group Announces Fourth Quarter and Full-Year Results
PR NEWSWIRE - Match Group reported a total 2024 revenue of $3.5B in 2024, a 3% increase YOY, with a net income of $823M, down 10%. Adjusted operating income remained flat at $1.3B. The company saw a 5% decline in total payers to 14.9M, but revenue per payer (RPP) increased by 8% to $19.12. Tinder generated $1.9B in revenue in 2024, growing 1% YOY, while its net income declined 7% to $889M. Hinge experienced significant growth, with revenue reaching $550M, a 39% increase, while net income rose 64% to $121M and adjusted operating income jumped 55% to $166M. Hinge's payers grew 23% to 1.5M, and RPP increased 13% to $29.94. Match Group's other properties, including Evergreen & Emerging brands and Match Group Asia, saw mixed performance. Evergreen & Emerging brands reported $643M in revenue, a 7% decline. Match Group Asia posted $284M in revenue, down 6%, and an operating loss of $32M.
Q4 Results: Match Group reported Q4 2024 revenue of $860M, a 1% decline YOY. Tinder generated $476M, down 3%, while Hinge saw strong growth with $148M in revenue, up 27%.
See full article at Match Group website
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Match Group's Q4 Earnings to Reveal Tinder's Future
MARKETWATCH - Match Group's future depends on reviving Tinder, which has struggled with slowing user growth and declining engagement as Gen Z shifts toward real-life interactions. With shares down nearly 80% from their peak, activist investors are pressuring the company for change, including a potential buyout. While AI-backed features are being tested, they won't be a quick fix. Match expects Tinder's revenue to grow in the low single digits by 2027. Investors are closely watching whether the company can deliver on its three-year growth plan, but concerns over execution and lack of major innovation remain.
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Hinge's New AI Feature Determines if Users' Prompt Response Is Too Basic
TECH CRUNCH - Hinge has introduced "Prompt Feedback," an AI-powered tool using OpenAI's GPT-4o mini to help users write better profile answers. It provides three types of feedback: "Go a Little Deeper," "Try a Small Change," and "Great Answer," aiming to replace generic responses with more specific ones. The feature addresses a common issue, as 63% of daters struggle with what to write on their profiles. This tool is part of Match Group's $20–$30M investment in AI, which also includes Tinder's photo selector tool.
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What to Expect From Match Group's Next Quarterly Earnings Report
TRADING VIEW - Match Group will announce its Q4 2024 earnings on Feb 4. Analysts expect profits of $0.54 per share, down from $0.81 last year, and revenue between $865M and $875M. This follows Q3 revenue of $895.5M, which slightly missed forecasts. For the full year, profits are projected to drop 14.2% to $1.94 per share but are expected to rebound to $2.13 in 2025. Analysts give the stock a "Moderate Buy" rating with a $36.88 price target, suggesting potential growth ahead.
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