The company’s newly appointed CEO said Match Group Inc. will “simplify operations, invest in growth areas, and share ideas for its employees with executive teams to improve the idea of its dating app.
“Our apps often feel like a digital game, rather than a place to make real connections that make people prioritize metrics,” CEO Spencer Rascoff wrote in a note to employees on Thursday. “This needs to change.”
In addition to expanding AI’s use of AI in its largest dating app (Tinder and Hinge), the drive will include setting up channels for employees to share “unchanged feedback”. He said the company will also “simplify actions” to increase efficiency and increase “the expectation of office collaboration” so we operate with the speed and concentration needed to perform tasks. ”
A spokesperson for the game declined to comment on whether the comments refer to layoffs or increased mandatory days in the office.
“To reach our full potential, we have to face a hard truth: we don’t always meet the high standards set for the user experience,” Rascoff added in his notes on Thursday.
The game was under pressure from three activists – Elliott Investment Management LLC, Anson Funded Management LLC and Starboard Value Ltd – reversed the continued decline in payments to Tinder users. Reuters reported earlier this week that around 0.6% of the funding plans to nominate several directors to the company’s board of directors at the end of December and urged management to refine its company strategy. A company spokesman declined to comment on the report Tuesday, but said the focus of the competition was to “grow our business and create shareholder value with oversight of our skilled and experienced board of directors.”
The company has been working to restore brand growth since the frequent execution changes and how young people approach dating. Rascoff took over the CEO position of Match Group last month, replacing Bernard Kim, who was at the helm for less than three years.
Tinder CEO Faye Iosotaluno told investors last December that Tinder will prioritize user experience over monetization to enhance the business, but warned that the brand will not grow again until 2027 as it can try new features.
Over the past year, Tinder has been focusing on improving its application ecosystem to retain women and young users, including the introduction of more security features such as ID verification in some markets. It is also working on the dual dating feature and says it will be tested in the second quarter.
“Trust is the foundation of a true connection and we are committed to rebuilding it with urgency, accountability and a strong focus on users,” Rascoff wrote.
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