CNN NEWSSOURCE – Meta advertisers, including Match Group and Walmart, have raised concerns to the tech giant about their ads appearing alongside disturbing sexual content, New Mexico Attorney General Raúl Torrez alleged in an updated complaint in his lawsuit against Meta. The updated complaint comes after Torrez sued Meta and CEO Mark Zuckerberg last month, accusing the company of creating a "breeding ground" for child predators. The lawsuit alleges that Meta exposes young users to sexual content and makes it possible for adult users they don’t know to contact them, putting children at risk of abuse or exploitation. Match Group's CEO allegedly reached out directly to Zuckerberg to note that "Meta is placing ads adjacent to offensive, obscene – and potentially illegal – content, including sexualization of minors and gender-based violence," and said that Match had cut its advertising spending on Meta's platforms.
Category: Match Group
Match Group Promotes Faye Iosotaluno to Tinder CEO
TECH CRUNCH – Match Group has named Faye Iosotaluno as the new Tinder CEO, two years after the previous CEO Renate Nyborg left the company in August 2022. During that time, Match Group CEO Bernard Kim held the position. Iosotaluno has been working at the Match Group since 2017. She was promoted from the company’s chief strategy officer position to Tinder’s chief operating officer in 2022 when Nyborg departed. Nyborg is now building an AI companion startup backed by Sequoia and Andrew Ng’s AI Fund.
Match Shares Surge on Report Activist Investor Elliott Takes $1B Stake
CNBC – Shares of Match Group surged up to 12% after reports that Elliott Management, a prominent activist investing firm, had acquired a ~$1B stake in the company. This surge came amidst Match's recent struggles with leadership changes and slowing growth, following a period of rapid expansion during the early days of the COVID-19 pandemic. Elliott, known for its successful engagements with major tech companies, is expected to interact with Match's management, though specifics of this involvement are unclear. Match has experienced significant CEO turnover, with seven CEOs since 2012. While some analysts remain optimistic about Match, its stock performance and leadership stability are areas of focus. Elliott's history includes notable campaigns with Salesforce, Pinterest, Crown Castle, and Phillips 66.
Elliott Investment Management Acquires $1 Billion Stake in Match Group
BLOOMBERG – Elliott Investment Management has built a stake of ~$1 billion in Match Group. The activist investor plans to push the online dating company to take steps to boost its stock price. Shares of Match Group have fallen 10.5% in the past year, leaving it with a market value of about $10.3 billion.
by Michael Hytha
See full article at Bloomberg
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Amanda Bradford’s Vision for The League’s Future With Match Group
by Emma Hinchliffe & Joseph Abrams
See full article at Fortune
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Match and Bumble Suspend Ads on Instagram Amid Concerns Over Algorithm Serving Inappropriate Content
WALL STREET JOURNAL – The Wall Street Journal's testing revealed Instagram's algorithm served inappropriate content, including sexualized videos of children and adults, to users following young influencers. Ads from major brands, including dating apps Bumble and Match Group, appeared alongside this content. Bumble and Match responded by suspending their ads across Meta's platforms, with Match cancelling its Meta advertising due to dissatisfaction with Meta's response to the issue. The tests raised concerns about child safety and the misuse of algorithms, prompting Meta to state it was investigating and would pay for brand-safety audits. The situation highlighted the need for stricter content regulation on social media platforms.
by Jeff Horwitz & Katherine Blunt
See full article at Wall Street Journal
Match Group’s “Are You Sure?” Feature to Expand to Millions of Users Across Match, Stir, OurTime & More
Match Group Advocates for Ethical AI and Internet Safety at Senator Schumer’s AI Forum Series
LINKEDIN – Match Group, led by CEO Bernard Kim, contributed to Senator Schumer's landmark AI Forum Series, emphasizing the importance of collaboration between government and developers in harnessing AI technologies. Match Group advocates for responsible AI use and internet safety, supporting acts like EARN IT. Its AI Principles focus on authenticity, accountability, equity, explainability, integrity, privacy, and safety. The company's "Are You Sure?" feature aims to reduce online harassment by prompting users to reconsider harmful language. Match Group is committed to advocating for Section 230 reforms and supporting legislation to enhance online safety and privacy, viewing AI as a tool for societal advancement while stressing the need for comprehensive safety measures and responsible technology use.
Match Group Stock Tumbles After Paying Users Fall Again
Alphabet, Match Settle Google Play Antitrust Fight Before Trial
BNN BLOOMBERG – Alphabet has settled an antitrust lawsuit with Match Group, which claimed Google Play's policies were illegal. This agreement dismisses all ongoing litigation and provides Match with improved terms on Google Play. Despite this settlement, Alphabet's legal challenges continue with a forthcoming trial against Epic Games. The settlement with Match includes more favorable fees for Match on Google's platforms and a $40 million reimbursement to Match for disputed service fees. Google maintains that the settlement allows them to keep offering a secure and quality experience on Google Play while investing in the Android ecosystem.