FAST COMPANY – Match Group has attracted activist investors seeking changes to revitalize Tinder and the dating app industry. The company reported better-than-expected Q2 results, boosting shares by 14%. Tinder's paying users stabilized at 9.6 million, slightly above estimates, signaling recovery. CFO Gary Swidler emphasized 2024 as a year of progress, focusing on stabilization and improvement. Despite positive trends, Match shares remain 17% lower than last year. The company is laying off 6% of its workforce and shutting down live streaming services to focus on generative AI tools. Activist investors urge strategic changes, with some suggesting potential sales if improvements falter.
by Jessica Bursztynsky
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