Milestones

In a recent interview on CNBC’s Squawk Box, Match Group CEO Spencer Rascoff discussed the company’s transformation and the growing role of artificial intelligence in shaping the future of online dating. Among the highlights: Hinge, one of Match Group’s standout platforms, has reached an impressive 15 million monthly active users worldwide—a milestone that solidifies its status as one of the fastest-growing consumer tech brands in the world.

Rascoff credited Hinge’s success to the leadership of founder Justin McLeod, Chief Marketing Officer Jackie Jantos, and Match Group executives Bill Archer and Ben Celebicic. “Hinge continues to grow by staying true to its mission: helping people get on more great dates,” Rascoff said, emphasizing the brand’s commitment to meaningful connections in an increasingly digital landscape.

Dating app Hinge is taking payment processing for its app into its own hands, and out of the control of the App Store.

Hinge CEO Justin McLeod was recently interviewed on the Decoder podcast and said the company would like to introduce the new payment system by the end of the year.

This is big news for dating apps, and for developers in general who have litigated to bypass the monopoly-like hold Apple and Google have on their payment platforms. To make their apps available on the iOS App Store for users to download, Hinge has had to agree to giving a percentage of every purchase made by its users to Apple.

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.

SmashTogether, a new dating app that was to launch in beta version on May 15, received a cease-and-desist order before the platform went live.

The new dating app was meant to bring together fans of Super Smash Bros, a popular video game, with its name being a cheeky reference to hooking up. SmashTogether doesn’t say who ordered a cease-and-desist, but likely it’s from the Smash Bros. game’s company Nintendo.

The legal news was announced via a Twitter post from SmashTogether, alongside a picture of Yoshi from the video game perched on a wall and looking off into the sunset. 

Dating app giant Match Group is set to cut 13 percent of its staff, a reduction of about 325 employees from its most current count of 2,500. The company will also be closing all open positions.

This news comes after another disappointing first quarter. The company said in an earnings call that paid users fell more than 5 percent from a year ago, a trend that continues as more young daters look for ways to meet outside of dating apps. According to Fortune, the company’s new CEO Spencer Rascoff said that the staffing cuts will save Match Group about $100 million per year, and about $45 million in 2025 alone.

The trimming of staff will mostly focus on management according to Tech Crunch, with about one in five managers affected. The company wants to centralize key functions like technology and data services, customer care, and content moderation. It also wants to focus on media buying and international go-to-market functions to increase customer reach.

Two major online safety groups have partnered to create a new industry standard for online dating in the wake of reports that dating app companies aren’t taking needed steps to protect users on their platforms.

The Cyber Rights Organization (CRO) and Online Dating and Discovery Association (ODDA) joined forces to educate industry leaders in different areas of safety including human rights, data privacy, and best business practices, according to DatingNews.com. The ODDA sets guidelines for dating app companies and alerts them to potential risks, while the CRO is a watchdog, and protects people who are using dating platforms.

“The alliance between CRO and ODDA is driven by mutual commitment to user safety in the digital dating sphere,” the ODDA said, according to DatingNews.com.