- Matches SPENCER RASCOFF CEO Published an open letter to LinkedIn The confession of dating applications is lagging behind and does not feel like “creating real connections”. He now calls on Match employees to offer feedback on how to best improve their applications such as Hinge and Tinder.
Finding love in dating applications felt such a bleak one user Luck that Tinder, Hing and Bumble feels like “wasteland”
“I think the user's fund has fallen on many of these applications,” said Max Gomez, an expert on GEN communication, said earlier Luck. “The gene just just doesn't use them.” [apps] so many. ”
The new CEO of the Match Group group admitted so much va letter Published on Thursday on LinkedIn and said that the introduction of the company like Hinge and Tinder were not sniffing.
“Our applications felt too often like playing numbers than a place to create real connections, so people would leave the impression that we prefer metrics over experience,” wrote Spencer Rascoff, former CEO of Zillow, who took over the highest work in Match Group in February. “That must change.”
In his letter, Rascoff urged employees to share their “unpublished feedback” about products to help improve applications.
“We know that listening to users is not enough to move with urgency and increased responsibility,” Rascooff wrote, adding that the Match Group would be “increasing expectations in the field of office” to make changes faster. Rascoff was honor For the corporate culture he created during his time in Zillow.
The group of matches refused to provide another comment on Rascoff's letter.
Analysts warned of falls with dating of application companies As a group Match Group and Bumble for a while. Although Bank of America Analysts said in 5 February notes Rascoff's appointment could be positive for the company: “Online dating industry is facing continuing users' growth.”
Global users for dating applications such as Tinder, Bumble and Hinge dropped 6%year -on -year in the fourth quarter of 2024, according to the Bank of America Research. Over the past five years, the Match Group shares have tarked almost 70%plus “the total sentiment in dating applications to a large extent remains negative”, according to Citi 28, January 28 of January 28. According to the company, however Revenue report 4th February.
Some younger people also completely dug up dating applications and instead long for meetings in real life.
“I don't just want to chat people online,” said Louise Mason, a millennium marketing specialist in the UK, in the UK Luck. “I don't want to peck.”
Rascoff feels user pain.
“I heard incredible stories about love,” he wrote. “But I also heard frustration – from users looking for real, meaningful matches and expectations more of the experience.”
A better product range could help to cope with the group out of its slump. Citi analysts noted that they were monitoring new products and updates that could improve the performance and outlook of the Match Group.
“In our opinion, improved product development is critical of improving the basic trends of users in the long term,” Citi analysts said.
Rascoff said that the Match Group is on top of the product updates and development in their letter shared on LinkedIn.
“Transformation is already in progress,” wrote Rascooff, adding Hinge, Tinder and other brands in their portfolio, looking for new ways to implement AI into product development.
“But it's not about the technology itself,” he added. “Our people, our culture and our deep commitment to our mission will be the driving force of this transformation.”
Wolf Research analysts also seem optimistic about changes that Rascoff could mention as the new CEO of Match Group.
“We believe investors will welcome its communication style and cadence positively,” Wolf Research wrote in note 5 February. “Much depends on the successful performance this year and the company now has another chance to prove its strategy.”
This story was originally listed on Fortune.com
