Tinder's First Female Boss Quit After Less Than A Year. The Parent Company Is Pushing For Platform Growth

Renate Nyborg, the first female CEO of the dating platform Tinder, has left the position after less than a year. This was announced by her successor, Bernard Kim, in a letter to shareholders, which was brought to the attention of the CNN portal.

She has held the position since the end of September 2021. The then group director introduced her as CEO, who will focus tirelessly on strengthening growth and creating new experiences for Tinder users. Her predecessor, Jim Lanzone, also remained in charge for only about a year.

At the same time, Bernard Kim published the results for the last quarter, to which the shares of the parent company Match Group reacted with a 20 percent drop. In addition to Tinder, the group also includes the dating sites Hinge, OKCupid and Match. The company benefited from the improvement of the pandemic situation and the relaxation of the rules regarding meeting in the second half of 2021, but a year later, the growth was not so noticeable.

Disappointed Wall Street  

Match Group earned $795 million last quarter, which was 12% more than last year. However, it failed to meet expectations, which ranged between 800 and 810 million.

Tinder is the driving force behind the company and has the widest portfolio of users. The parent company is therefore pushing to grow faster than other brands.

Bernard Kim admitted that the experiment with the virtual currency Tinder Coins had mixed results. He wants to take a step back and reassess what will benefit the platform. The dating metaverse that Nyborg wanted to create doesn't have a certain future either.