The Match Group-owned Tinder CEO is out… again. Faye Iosotaluno, who took the job in January and barely had time to change the Wi-Fi password, announced she’s stepping down in July. The reason? Match Group says it’s all part of a “planned transition”... a.k.a. A phrase that has now been used so many times by this company it might as well be trademarked. 

(Source: Giphy) 

In short, this is the third C-suite exit at Match in four months. The previous CEO of Match Group, Bernard Kim, left in February after activist investors started circling like vultures. Rascoff, his replacement, took the helm and immediately began gutting the place… starting with a 13% workforce cut that conveniently hit Tinder the hardest. Then the CTO walked. Now the CEO of Tinder is “resigning.” When it rains, it pours apparently. 

What’s interesting though is that Iosotaluno’s departure wasn’t announced through official channels. It came via a LinkedIn post, which is basically corporate America’s version of getting dumped through a friggin’ text. She spent eight years inside the Match machine… most recently as Tinder’s COO and Match’s head of strategy… and lasted a timeless six months as CEO. Why the musical chairs with this dating app? Simple: Tinder is flatlining, investors are pissed, and the people in charge can’t do anything disruptive except running for the exits. 

(Source: Wall Street Journal) 

Spencer Rascoff, now CEO of Match Group and apparently also part-time Tinder babysitter, says he’ll personally lead the Tinder team himself. No new CEO has been named as of yet. Just Rascoff, who got the big chair in February and has spent most of his time since then firing people and trying to keep activist investors from tearing out Match’s spine. Speaking of activist pressure… it’s not just background noise. Elliott Management reportedly took a $1 billion stake, while Starboard Value and Anson Funds also built positions and started rattling cages. In March, Match quietly added two new board members and signed an agreement with Elliott to avoid a full proxy brawl. Then came the layoffs. Then came the executive departures. Now it’s Tinder’s turn to be decapitated and restructured like it owes someone money.

Oh, and underneath all of this, the product is still rotting in real time. Tinder hasn’t grown its user base in any meaningful way. It’s been lapped culturally by apps like Hinge (which Match also owns), and whatever relevancy it once had is now buried under a pile of bot accounts, swipe fatigue, and people using it to promote their Instagram. In fact, Iosotaluno said in December that Tinder wouldn't return to revenue growth until 2027… oof. 

(Source: Bloomberg) 

To distract from that, the company has been beta testing features ripped from early-2000s dating game shows… LOL seriously. This includes “double dating” in Europe and an AI “wingman” that writes your opening lines for you. Spoiler: None of this is going to fix the product, but it does create just enough movement to keep the earnings calls from being completely silent. 

But, but, but… the good news, is that Match stock ticked up slightly after the news. And when I say slightly, I mean +0.38%. It ain’t much, but it’s honest. Investors are now cheering when the revolving door hits someone on the way out. And if you’ve been watching this long enough, you know exactly what’s happening: the product isn’t the problem. The leadership is. Or maybe the problem is that there’s no real product anymore…. Just a brand, and a user base that’s slowly realizing they hate it. 

(Source: Giphy) 

In the end, this may be a good catalyst for Match to turnaround it’s -9.69% YTD plunge… but even still, I wouldn’t hold my breath. For now, let’s keep watching the parade of new execs flood in the door, while waiting to see which poor lucky soul sticks. Until next time, friends… 

P.S. Some fat cat executive just sold $9.4 million of their company's stock… a company, mind you, that’s single-handedly responsible for your kid’s sugar rush before 8 a.m. Curious to see why? Click here to join Stocks.News premium and get these insider transactions delivered to you on a silver platter. 

Stocks.News does not hold positions in companies mentioned in the article.