Tinder CEO Faye Iosotaluno to step down in July
Tinder CEO
Faye Iosotaluno said on Thursday that she would step down in July, as the
dating app
aims to attract more users.
Iosotaluno, who has led Tinder since January 2024, oversaw the dating platform's increased focus on personalization through deeper integration of
artificial intelligence
into its recommendation system.
Tinder parent Match Group's CEO, Spencer Rascoff, in a LinkedIn post said he would step in to lead the Tinder team.
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"Tinder is in great hands with Spencer and the leadership team," Iosotaluno said in her LinkedIn post, where she announced her departure.
Rascoff was appointed Match CEO in February, with a focus on tackling a slowdown in user engagement.
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Match earlier this month reported a 5% fall in paying users during the first quarter.
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The company also announced plans to cut 13% of its workforce as part of Rascoff's turnaround strategy.
The
online dating industry
has been facing challenges, with ongoing inflation, a shortage of innovative features, and market stagnation drawing users away from popular dating apps such as Tinder and Bumble.
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