Match Group has announced Spencer Rascoff as its new CEO, replacing Bernard Kim. Rascoff, best known for co-founding Zillow, has been a board member at Match Group since March 2024. The appointment comes as the company aims to revitalize growth and strengthen its position in the online dating industry.
Match Group Chairman Tom McInerney praised Rascoff’s strategic insights and deep understanding of the company’s brands, expressing confidence in his leadership for the next phase of innovation and expansion.
Alongside the leadership shift, Match Group reported better-than-expected Q4 earnings. The company posted earnings per share of 59 cents on $860 million in revenue, surpassing analysts’ expectations of 54 cents per share on $859 million in revenue. However, its first-quarter revenue guidance disappointed investors, with projected sales of $820 million to $830 million, well below analysts’ $853 million estimate.
Following the earnings report, Match Group shares dropped 7% in extended trading, reflecting concerns over slower-than-expected revenue growth.
Rascoff, 49, brings extensive leadership experience to Match Group. In addition to co-founding Zillow, he served in multiple executive roles, including CEO, before departing in 2019. He also co-founded Hotwire, an online travel platform acquired by Expedia for nearly $700 million in 2003.
Match Group, known for its popular dating platforms Tinder and Hinge, has faced significant challenges as an independent public company. Since being spun off from IAC Group in 2020, its market capitalization has declined from $30 billion to under $10 billion, reflecting a slowdown in revenue growth and increasing competition in the dating app industry.
In a broader strategic shift, IAC recently approved the spinoff of Angi, its home improvement marketplace, signaling continued restructuring within the parent company’s portfolio.
As Match Group looks to regain momentum, Rascoff’s appointment marks a pivotal moment for the company. With his background in technology and online marketplaces, he is expected to focus on enhancing product offerings, driving innovation, and expanding monetization strategies across Match Group’s dating platforms.
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