FAST COMPANY – Match Group CEO Spencer Rascoff discussed the company’s turnaround plans in an interview with Fast Company. He said Match’s brands previously managed their own advertising, but the company has now brought those teams together. A single team manages ~$600M in annual ad spending across ~20+ brands. Match is also combining parts of the technology used by its apps, making it easier to introduce the same features across several products. Rascoff said ~60% of Tinder and Hinge users are under 28. Tinder is trying to appeal to these users with Double Date, group matching and in-person events. Double Date is used by ~25% of Gen Z users in the US and close to 50% in some European markets. Match has also adjusted its recommendation systems to prioritise conversations with at least six exchanges, which it calls “sparks.” Rascoff said AI can help with safety, matching and communication advice, but should not write messages or speak on behalf of users.
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