Tinder CEO Steps Down in Match Group Shake Up

Tinder CEO Faye Iosotaluno announced in a post on LinkedIn that she will be leaving her role in July after two years as head of the app and eight years working for parent company Match Group.

This is the latest shakeup for Match Group, whose new CEO Spencer Rascoff recently announced that Tinder’s chief technology officer would also be leaving at the end of May, with no replacement named.

Match Group said it would be laying off 13 percent of its workforce in efforts to cut spending, the bulk of which would come from Tinder, according to The New York Post. Tinder has seen a decline in paying users over the last several quarters, and activist investors have been pushing for a turnaround. Hinge is the company’s bright spot, which is steadily growing despite the industry’s general decline.

According to Reuters, Rascoff did not name a new chief executive, but said he would be stepping in to lead Tinder in the interim.

Activist investors include Elliott Management, who bought a $1 billion stake in Match Group, as well as Starboard Value and Anson Funds. They have pushed for the company to cut costs and improve profit margins.

According to The Post, Rascoff said in his own LinkedIn post about Iosotaluno’s departure that the features Tinder is now testing, such as an AI “wingman” and the ability to double date over the app, are still moving forward.

“With a strong foundation set, we’re focused on what comes next. Tinder’s leadership team is energized and aligned around building products that meet the moment, reflect the evolving needs of our global community, and meet people where they are,” Rascoff wrote in his LinkedIn post.

According to The Wall Street Journal, Rascoff said in an earnings call that Gen-Z is “not a hookup generation.” He went on to say: “They don’t drink as much alcohol, they don’t have as much sex. And we need to adapt our products to accept that reality,” according to WSJ.

The dating app market as a whole has been struggling, and more young people are looking for other ways to meet people, including in-person events and social media. Vice President JD Vance recently came out against dating apps in an interview with The New York Times, calling them “destructive.”

"I think part of it is technology has just for some reason made it harder for young men and young women to communicate with each other in the same way," Vance told the Times.

Rascoff is more optimistic about Tinder and Match Group’s dating apps, adding in his LinkedIn post: “This next chapter is about momentum, innovation, and delivering on our full potential.”