Match Group Inc. has officially announced the appointment of Faye Iosotaluno as the new chief executive officer of Tinder, signaling a major leadership transition for the world’s leading dating app. This strategic move comes after a near two-year period where the role was temporarily filled by Match Group’s CEO, Bernard Kim, following the departure of former Tinder CEO, Renate Nyborg.
Faye Iosotaluno, a seasoned executive within Match Group since 2017, previously served as Tinder’s Chief Operating Officer and Chief Strategy Officer. Her promotion aligns with a broader transformation initiative spearheaded by Kim, aiming to revitalize Tinder’s growth trajectory. This initiative is crucial as Match Group, which also owns Hinge, OKCupid, The League, and Match.com, has reportedly observed a concerning decline in its paid subscriber base over recent quarters.
Under Kim’s interim leadership, Tinder has undergone significant changes, including the introduction of new pricing strategies and the rollout of innovative features aimed at attracting a younger demographic. A notable addition is Tinder’s ultra-premium subscription tier, priced at $500 per month, designed to enhance user experience and revenue per user. Additionally, Match Group‘s recent settlement with Google allows for more flexible in-app purchase options, potentially increasing earnings for Tinder and its sister platforms.
Faye Iosotaluno’s tenure as COO, on the other hand, witnessed her advocating for changes in Tinder’s community guidelines, such as removing social media handles from public profiles to prioritize genuine dating interactions over business promotions. Her leadership is expected to further these efforts and stabilize Tinder’s position in the market.
Meanwhile, the appointment comes hot on the heels of a Wall Street Journal report revealing activist investor Elliott Management’s $1 billion stake in Match Group. While Elliott’s specific terms remain undisclosed, they are expected to push for improvements, likely with Iosotaluno at the forefront. Both Match Group and Elliott Investment Management have refrained from commenting directly on the investment report.