- Match group CEO Spencer Rascoff posted an open letter LinkedIn They admit that the dating apps of his company will briefly proceed and do not “establish real connections”. He is now asking Match employees to give feedback on how to best improve their apps such as hinge and Tinder.
Finding love in dating apps felt so bleak that a user was told Assets The Tunder, hinge and bumblebee feel like a “wasteland. “”
“I think the user pool in many of these apps has decreased” Assets. “Gen Z just doesn’t use that much anymore (apps).”
The new CEO of the Match Group has added as much in A letter Posted on Thursday on LinkedIn and said that the dating apps of the company like Hainde and Tinder were no longer for snuff tobacco.
“Too often, our apps felt more like a number game than as a place where we build real connections, so that people left the wrong impression that we prioritize metrics before experience,” wrote Spencer Rascoff, Zillow’s former CEO, who took on the top job at the match group in February. “That has to change.”
In his letter, Rascoff asked the employees to share their “unpainted feedback” to products confidentially in order to improve the apps.
“We know that listening to users is not sufficient-we have to move with urgency and increased accountability,” wrote Rascoff and added that the match group “increases expectations with regard to in-office collaboration” in order to make changes faster. Rascoff was worship For the corporate culture that he created in Zillow during his time.
Match Group refused to continue commenting on Rucoff’s letter.
Analysts have warned of that Falls from dating app company Like the match group and for a while. Although Bank of America Analysts said in a appointment of Rascoff on February 5th could be positive for the company: “The online dating industry is facing continued headwind for user growth.”
According to the Bank of America Research, global users for dating apps such as Tinder, Bumble and Scharnier decreased by 6% in the fourth quarter of 2024 compared to the previous year. In the past five years, the Match Group share has driven almost 70%plus the “overall mood at dating apps”, according to Citi’s analystnote from January 28th. However, the total turnover of the Match Group rose 3% to $ 3.5 billion compared to the previous year, according to the company’s company Earnings report on February 4th.
Some younger people have also completely put down dating apps and longed for real meetings.
“I don’t just want to chat online with people” Assets. “I don’t want a Penpal.”
Rucoff feels the pain of the users.
“I heard incredible love stories,” he wrote.
Better product offers could help groups to rise from the break -in. Citi analysts found that they could pay attention to new products and updates that could improve the performance and outlook of Match Group.
“In our opinion, improved product development is crucial in order to improve the underlying user trends in the long term,” said Citi analysts.
According to Rascoff, Match Group is on product tactualizations and developments in his letter shared on LinkedIn.
“The transformation is already underway,” wrote Rascoff and added that hinge, Tinder and other brands find new opportunities to put AI into product development in his portfolio.
“But it’s not just about technology,” he added. “Our people, our culture and our deep commitment to our mission will be the driving force behind this transformation.”
Analysts from Wolfe Research also seem to be optimistic about changes that Rascoff could initiate as the new CEO of the Match Group.
“We believe that investors will greet their communication style and its cadence at a favorable manner,” Wolfe Research -Analysten wrote in a note on February 5. “A lot depends on a successful execution this year, and the company now has another chance to prove its strategy.”
This story was originally on Fortune.com
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