Tinder CEO will depart in July, Match Group CEO would step in to lead the team
Tinder CEO Faye Iosotaluno will step down in July, Match Group CEO Spencer Rascoff would step in to lead the team.
Iosotaluno was CEO since January 2024 and has been with Match Group for almost 8 years.
In 2024, Tinder generated approximately $1.94 billion in direct revenue, accounting for over 55% of Match Group’s total revenue of $3.5 billion (page 39).
Match has been facing considerable activists pressure in recent years over its underperformance, leading to management changes including the appointment of Rascoff as CEO in February.
Hinge’s CEO said the subsidiary operates largely independently from Match Group
In an interview with Nilay Patel of the Verge’s Decoder podcast, Hinge CEO said they remain an independent company.
“Up until recently, and still today, the company operates pretty independently,” he said. We’re in New York. We pretty much have our own space. We have our own product teams, our own engineering teams, our own marketing teams that operate very independently. We share learnings across the platform. We use shared services like accounting and legal and things like that.
He said that they will likely launch an alternative payment system (other than that of Apple) at the end of the year, which would result in reduced prices, higher margins or more investment.
He thinks the new payment system rates should be reduced to between 5% to 10% from 15% to 30%.