BLOOMBERG – Match Group is facing pressure from activist investor Anson Funds, which criticized the board as outdated and resistant to change, citing frequent CEO turnover and poor execution. Anson is nominating three new directors with strong tech and media experience to push for a strategic overhaul. Match responded by rejecting the claims as inaccurate and defended its board's expertise, saying it's already reviewing nominees and committed to long-term growth. The clash highlights ongoing investor frustration after years of declining market value, with Tinder not expected to return to revenue growth until 2027.
Category: Match Group
Match Group Quietly Acquired Salams, Backlash Grows
TURKIYE TODAY – Match Group quietly acquired Muslim matchmaking app Salams in late 2023, with the deal only revealed in a February 2025 earnings report. The move sparked backlash from users who said they were not informed. Criticism intensified after Match appointed Spencer Rascoff as CEO – the same day the acquisition was disclosed. Rascoff’s past board role at surveillance firm Palantir and public support for the Israeli military have raised concerns among Muslim users. Some communities are now boycotting Salams and urging users to switch to other platforms.
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Top Dating Apps by Press Coverage in 2024
OPW – In 2024, we selected and summarized close to 700 of the top news items from the online dating industry. These 10 companies made the most headlines in 2024, driven by leadership changes, product launches, lawsuits, and bold strategic moves:
- Match Group – Topped coverage as Elliott bought a $1B stake, partnered with OpenAI, launched a buyback, and reshuffled leadership.
- Tinder – Named Faye Iosotaluno as CEO, expanded ID verification globally and launched a celeb-only dating app
- Bumble – Cut 350 jobs, launched AI scam detection, bought Geneva, and rethought "women make the first move."
- Hinge – Rolled out chat limits, Hidden Words, and launched a $1M fund to drive in-person Gen Z connections.
- Grindr – Marked 15 years, expanded into long-term dating, saw 85% stock growth, and faced HIV data lawsuits.
- Archer – Surpassed 1M downloads, added selfie verification and AI moderation.
- Feeld – Nearly doubled revenue to £39.5M, rebranded, and launched a magazine on non-traditional relationships.
- Matrimony – Launched MeraLuv and WeddingLoan.com, but faced a major setback as Google removed its apps.
- Muzz – Reached 10M users, debuted Muzz Social, launched matchmaking in Pakistan, and introduced chat limits.
- OkCupid – Turned 20 years old.
Match Group and Bumble Have New CEOs and a Renewed Safety Focus
BUSINESS INSIDER – Match Group and Bumble have both appointed new CEOs amid leadership shake-ups and struggles with user engagement. Whitney Wolfe Herd has returned as Bumble CEO, replacing Lidiane Jones, who resigned after a year. Several top executives, including Bumble’s CFO and CMO, have also left. Meanwhile, Match Group has named Spencer Rascoff as CEO, marking its fourth leadership change in six years. Both companies face declining stock prices (Match down 11%, Bumble down 54%) and shifting user behavior, with Match’s paying users falling 5% to 9.5M, while Bumble’s rose 11.5% to 4.1M. As Gen Z and women move away from traditional dating apps, both companies are focusing on safety features, AI-driven tools, and real-world dating initiatives to regain trust and engagement.
Tinder Owner’s New CEO Signals Urgency to Rebuild User Trust
BLOOMBERG – Match Group's new CEO, Spencer Rascoff, prioritizes user trust, operational efficiency, and AI-driven improvements across Tinder and Hinge. He acknowledged that the apps have felt like a "numbers game" and pledged to refocus on real connections. The company will streamline operations, encourage employee feedback, and increase in-office collaboration. Match faces pressure from activist investors to reverse a decline in paying Tinder users and refine its corporate strategy. Tinder aims to improve safety features and user retention but doesn't expect growth to return until 2027.
AI Is Changing Online Dating With Smarter Matches and Better Conversations
BBC – AI is being integrated into dating apps to help users craft bios, refine conversations, and suggest date ideas, with Match Group investing in AI-driven features to improve interactions. Despite concerns, over one in ten UK adults use online dating services, making it the most popular way to meet partners. While Tinder, Hinge, Bumble, and Grindr saw a drop in UK users between May 2023 and May 2024, dating apps continue to play a major role in modern relationships. AI tools aim to streamline the dating process, reduce awkward first interactions, and help users find compatible matches more efficiently. Meanwhile, a growing trend toward in-person dating events suggests that the future of dating will blend technology with real-world connections.
Anson Funds Plans Proxy Fight at Match Group
REUTERS – Hedge fund Anson Funds is preparing a proxy fight at Match Group, aiming to nominate directors to its 10-member board as it pushes for cost cuts, governance changes, and a strategic review of MG Asia. Despite owning only 0.6% of Match, Anson has raised concerns over board connections, executive turnover, and the company's ties to former owner IAC/Interactive. Match's stock has dropped 67% in three years, making it a target for activist investors, including Elliott Investment Management and Starboard Value, who have also pressured the company for changes. Elliott secured two board seats after a $1 billion investment in early 2024. Anson, led by Sagar Gupta, argues that Match's response has been too slow, and with only three board seats up for election this year, investor frustration is growing, setting the stage for a heated boardroom battle.
Gary Swidler to Step Down as Match Group President, Transitioning to Advisory Role
LINKEDIN – Gary Swidler will step down as President of Match Group next month and move into an advisory role until July. After nearly a decade in leadership, he sees this as the right time to step aside as the company transitions under new CEO Spencer Rascoff. With Hesam Hosseini, Sean Edgett, and Steve Bailey taking on expanded roles, Swidler is confident in the company’s direction. He plans to take time off to travel and spend time with family before pursuing new leadership opportunities.
Bumble Has Lost 92% of Is Value in 4 Years
BUSINESS INSIDER – Bumble's stock plunged 28% on Wednesday after weak first-quarter guidance disappointed investors, extending a 92% decline since its 2021 peak. Despite a Q4 revenue beat of $261.6M, the company forecasted $242M–$248M in Q1 sales, missing expectations. The drop is attributed to a temporary decline in paying users amid a brand refresh. Dating app fatigue and shifting user habits have made growth challenging, with rival Match Group also seeing a 79% drop since 2021. CEO Whitney Wolfe Herd remains optimistic, citing upcoming innovations aimed at reviving user engagement and revenue.
Safer Internet Day: Yoel Roth Discusses Trust and Safety in Dating Apps
ECONOMIC TIMES – In an interview with The Economic Times, Yoel Roth, Head of Safety and Trust at Match Group, discussed the challenges and strategies for keeping dating apps secure. Responsible for building guardrails against fake IDs, data theft, and financial scams, Roth emphasized the importance of verification measures, AI-powered moderation, and user education to protect online daters.