Technology

Match Group CFO Steven Bailey

Image: Match Group

Match Group has promoted Steven Bailey to the position of CFO, taking over for Gary Swidler as he continues in his role as president of the company.

Bailey is currently senior vice president of financial planning and business operations at Match Group, according to Reuters, and will assume his new position on March 31st. According to Reuters, his appointment signals the company’s commitment to “long-term strategic growth” and “strong cost discipline.”

Match Group’s most popular app Tinder has seen paying users and revenue fall in recent quarters, though Hinge continues to grow. The company has allocated a lot of resources to AI-driven features like photo selection and prompts that provide users help with crafting messages and bios, which seem to be the direction many dating apps are going. In fact, Grindr is testing out a new virtual wingman using generative AI.

Image: OkCupid

OkCupid has added a range of new politically-focused questions to its platform along with politically-themed badges ahead of the 2024 US election.

According to CNN, the new questions focus on voter behavior and help users choose more compatible profiles. Some questions include: “Are you voting in the 2024 presidential election?” and “What’s the most important issue to you in the 2024 presidential election?”

Other questions refer to whether singles are willing to bridge the political divide, such as: “Is it a dealbreaker if your date is voting for a different candidate than you in the 2024 presidential election?”

Image: Tinder

Tinder has released new features and added perks in time for college students headed back to campus. The move signals the company’s continued priority to market to younger Gen Z singles.

One interesting perk is that Tinder will offer college students a 50% discount for any of its premium services of Plus, Gold, and Platinum, according to Tech Crunch. This comes after the dating app company has struggled to retain paying users, reporting a loss of 400,000 paying users in the last quarter.

Tinder also announced a series of updates to Tinder U, its in-app feature for college students to find others on their campuses to connect with. One new feature for Tinder U includes new badges to add to their profiles, such as graduation year, major, clubs they are a part of, and their fraternity/ sorority life.

Image: Grindr

Grindr has shut off the explore option on its platform for the Olympic Village in Paris to protect the identities of athletes who are staying there to compete.

According to Pink News, the gay dating app has blocked global visibility for the Village area. Social media posts have shown that when you search for people in the Olympic Village, no profiles are offered.

According to Grindr’s announcement about the move, it said: “We're turning off features like "Explore" and "Roam" within the Olympic Village. The ‘show distance’ feature will also be turned off by default, but users can share their approximate distance if they decide to turn it on.”

Tinder has launched its new feature Photo Selector, an AI-based tool that helps users choose the best photos to use in their profiles to generate the best match results.

According to Tech Crunch, the new feature uses facial detection technology. When a user uploads a selfie on the app, the AI detects the unique facial geometry to identify the person’s face and pulls up matching photos from their camera roll. The feature then curates a collection of ten photos that will perform best on the person’s profile.

Photo Selector is intended to help users through what can be a time-consuming process of sifting through camera roll photos. According to a recent survey by Tinder, 68% of participants expressed that an AI photo selection feature would be helpful, and 52% reported having trouble selecting profile images. 

Starboard Value has taken a stake in Match Group, the latest firm to join the company’s activist investors and criticize executives for its financial performance.

According to The Dallas Morning News, Starboard has built a 6.6 percent interest in Match Group, the parent company of dating app Tinder. The popular dating app has seen a drop in paying customers for six straight quarters, with little sign that things will turn around soon.

Starboard joins Elliott Investment Management LP and Anson Funds Management LP, two other activist investors who have demanded changes in Match Group’s operations. Starboard is planning to push for selling Match Group if it fails to turn things around, according to Dallas Morning News.