Latest news with #Rascoff
Business Insider
6 days ago
- Entertainment
- Business Insider
Tinder's cure for Gen Z loneliness: A new feature for double dates with your bestie
The " loneliest generation" will now be able to add their emotional support friend to their Tinder profile. On Tuesday, the dating app launched "Double Date," a feature that allows you to create a joint profile with your bestie and swipe right on other pairs for a group date. Tinder hopes the new feature will be a hit with younger generations, especially Gen Z. Gen Z accounts for over half of its global user base, the company said. During testing, which began earlier this year, about 90% of Double Date profiles were under 29 years old. Tinder and its parent company, Match Group, need Gen Z more than ever. Match Group's new CEO, Spencer Rascoff, said one of the biggest problems facing dating apps like Tinder is the "failure to recognize and respond to" what younger generations want. "We have to build lower-pressure ways for Gen Z users to interact with each other," Rascoff said during the company's first quarter earnings call in May. He said he thinks new features like Double Date will "start to change user perception of Tinder." Gen Z's social dilemma A number of studies have found that Gen Z, typically considered those born between 1997 and 2012, is lonely. Nearly a quarter of adults ages 18 to 29 in the US said that they felt lonely, Pew Research Center reported in a September survey of over 6,000 participants. For comparison, 6% of adults 65 and older said the same. Coming of age in the pandemic meant fewer in-person interactions, and Gen Z is taking their transition into adulthood slow. They aren't rushing to marry and have children, according to Jean Twenge, a psychologist and the author of "Generations: The Real Differences Between Gen Z, Millennials, Gen X, boomers, and Silents — and What They Mean for America's Future." For Gen Z, dating has been largely defined by the chilling rejection felt from ghosting and the endless swiping on dating apps. In an effort to help navigate that, matches on Tinder's Double Date are put into a group chat of both pairs to coordinate a hangout. Tinder said it only requires one like per pair to match. Group dates can be a casual way to break the ice and explore a human connection before deciding if there's a romantic connection. Other startups, like Fourplay, have apps built entirely around group dating. Dating events, too, are en vogue as users experience dating app burnout and swap swiping for in-person connection. Tinder is not alone in vying for Gen Z. Bumble is also grappling with how to meet the generation's needs. "I think the reason Gen Z has abandoned the apps is because they're getting on the apps and they're not seeing who they want to see and they're feeling two things, which I take full accountability for at Bumble," Bumble's newly-returned CEO Whitney Wolfe Herd told The New York Times in May. "They're feeling rejected and they're feeling judged."
Yahoo
10-06-2025
- Business
- Yahoo
MTCH Q1 Earnings Call: Organizational Overhaul and Product Shifts Take Center Stage
Dating app company Match (NASDAQ:MTCH) met Wall Street's revenue expectations in Q1 CY2025, but sales fell by 3.3% year on year to $831.2 million. Its non-GAAP profit of $0.68 per share was 3.7% above analysts' consensus estimates. Is now the time to buy MTCH? Find out in our full research report (it's free). Revenue: $831.2 million vs analyst estimates of $827.6 million (3.3% year-on-year decline, in line) Adjusted EPS: $0.68 vs analyst estimates of $0.66 (3.7% beat) Adjusted EBITDA: $275.2 million vs analyst estimates of $264.1 million (33.1% margin, 4.2% beat) Operating Margin: 20.8%, in line with the same quarter last year Payers: 14.2 million, down 732,000 year on year Market Capitalization: $7.81 billion New CEO Spencer Rascoff opened Match Group's Q1 call by emphasizing major organizational changes, including a shift toward a unified, product-led structure and a 13% workforce reduction. Management attributed recent performance to a combination of cost-cutting and early signs of product traction at core brands such as Tinder and Hinge. Rascoff highlighted that Tinder is focusing on user experience improvements and product updates aligned with Gen Z's preferences, while Hinge continues to benefit from global expansion and AI-powered matchmaking. "By leveraging our scale and accelerating innovation, we're seeing the beginnings of improved engagement," Rascoff said. The quarter also saw increased indirect revenue from advertising, particularly around key holidays. Looking ahead, management indicated the company's forward strategy will hinge on continued product innovation, disciplined investment, and international expansion. Rascoff described plans to further develop AI-driven features and roll out new experiences, such as Tinder's Double Date and the AI-powered daily match, to more markets. CFO Steven Bailey noted that restructuring efforts are expected to yield over $100 million in annualized savings, helping to fund growth initiatives while maintaining margin targets. However, the team signaled caution about potential macroeconomic pressures, especially among younger users. As Rascoff stated, 'We'll continue to prioritize long-term user outcomes over short-term metrics as we execute our turnaround.' Management traced the latest quarter's performance to a mix of organizational restructuring, investment in AI-powered features, and targeted cost containment, alongside evolving platform strategies. Organization-wide restructuring: Match Group implemented a 13% reduction in workforce and consolidated key functions to operate as a single, product-focused entity. Rascoff described these actions as necessary to streamline decision-making, reduce redundant management layers, and accelerate product delivery cycles. Tinder product evolution: Leadership highlighted new features such as Double Date, designed to boost engagement with Gen Z users. The company is also piloting AI-driven daily match recommendations in New Zealand, aiming to fundamentally shift user perception and address declining monthly active users. Early metrics point to increased engagement and new registrations in targeted markets. Hinge's momentum and expansion: Hinge continued to gain traction, with management citing its launch of a new AI-powered recommendation algorithm and strong user growth in both English-speaking and European countries. The brand plans additional market entries in Brazil and Mexico later this year, reinforcing its leadership in the 'intentioned dating' segment. Advertising revenue spike: The quarter saw record indirect revenue from advertising, especially around Valentine's Day. However, management cautioned this was not expected to repeat in future quarters, maintaining a flat full-year outlook for advertising. Emphasis on trust and safety: Match Group invested in new user verification and safety features, including the integration of World ID and mandatory liveness checks. These initiatives reportedly reduced bad actor reports by over 15% in test markets, a step management views as essential to rebuilding user trust and category reputation. Management expects future performance to depend on the pace of product innovation, international expansion, and the ability to capture operating efficiencies amid uncertain consumer trends. AI-driven product innovation: Match Group is prioritizing the rollout of AI-powered features—such as Tinder's daily match and Hinge's recommendation engine—to improve user experience and differentiate its platforms. Management believes these efforts will be fundamental to reversing declines in user growth and engagement. International market expansion: The company is investing savings from restructuring into global launches for key brands, including Hinge's entry into Latin America and The League's expansion into the Middle East and India. Management views these moves as important levers for long-term growth and local network effects. Cost efficiencies and macro headwinds: Leadership plans to maintain margin discipline by further optimizing operating expenses and leveraging its scale in marketing and technology. However, they acknowledged risks from macroeconomic pressures, particularly affecting a la carte spending among younger users, and signaled readiness to adjust pricing or merchandising if needed. In the coming quarters, the StockStory team will monitor (1) the pace and user adoption of newly launched AI features on Tinder and Hinge, (2) the effectiveness of restructuring in delivering margin improvements and operational agility, and (3) the success of international market entries for core brands. Additional focus will be placed on signs of stabilization in Tinder's monthly active users and the impact of trust and safety investments on user sentiment. Match Group currently trades at a forward EV/EBITDA ratio of 6.8×. Should you double down or take your chips? Find out in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. 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Yahoo
06-06-2025
- Entertainment
- Yahoo
YAHOO POLL: Would you date someone shorter than you?
Match Group CEO Spencer Rascoff took over in February and he's vowed to make major changes to Tinder to make it more appealing to Gen Z who associate it with hook-up culture. Rascoff may be working to change that reputation but the app is currently testing a pretty superficial feature: height. Users started noticing a height 'filter' in the app last month. Then the news really blew up on the internet when a Redditor posted about it on 29 May. Short men were not happy. "It's over for short men. What are they going to do now?' one person wrote on social media platform X. Other polls: YAHOO POLL: Do you agree with US defence chief's comparison of Donald Trump and Lee Kuan Yew? YAHOO POLL: Are exclusive concerts the way to go for Singapore tourism right now? YAHOO POLL: Have you completed Malaysia's VEP requirement? However, the feature is for premium users at the moment and is being positioned as a paid suggestion for the algorithm rather than a tool to completely block users of a certain height. 'We're always listening to what matters most to our Tinder users – and testing the paid height preference is a great example of how we're building with urgency, clarity, and focus,' a Tinder spokesperson said. Height discrimination is real on dating apps but it actually works both ways. A study found that short men routinely add a few inches to their height in their profiles to make themselves more appealing while a 5 ft 4 woman gets 60 more contacts each year than a 6ft woman. So we want to know: Would you date someone shorter than you? Related Match Group CEO says Gen Z is different and he's making drastic changes to Tinder to keep up Tinder is testing a height preference, putting an end to short king spring Oh God. They added a height filter. Tinder trials divisive new height filter for premium users The Big Lies People Tell In Online Dating
Newsweek
02-06-2025
- Entertainment
- Newsweek
Tinder's New Height Filter Sparks Fierce Debate
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The end of "short king spring" may be in sight as the summer months arrive and the popular dating app Tinder tests a "height" filter. A spokesperson for Tinder told Newsweek, "We're always listening to what matters most to our Tinder users—and testing the paid height preference is a great example of how we're building with urgency, clarity, and focus." Why It Matters When it comes to dating, preferences about height have often sparked debate. A 2013 study from ScienceDirect found that women prefer their partners to be 8 inches taller than them, while men prefer to be 3 inches taller than their partners. As of 2022, Tinder, one of the most popular dating apps in the U.S., had 75 million monthly active users. The platform, long seen as part of "hookup culture," is undergoing a rebrand in a bid to appeal to Gen Z. Spencer Rascoff, the CEO of Match Group, the app's parent company, hopes to make Tinder known for more serious dating. Tinder's headquarters on the Sunset Strip in West Hollywood, California, on August 28, 2020. Tinder's headquarters on the Sunset Strip in West Hollywood, California, on August 28, 2020. AaronP/Bauer-Griffin/GC Images What To Know Tinder is testing the new feature for its gold and premium subscribers. According to the company, the feature is a preference rather than a hard filter, so it doesn't outright block or exclude profiles but acts more as a guidepost. Popular dating apps, such as Hinge and Bumble, already have height filters available behind a paywall for premium users. Though height filters aren't new among dating apps, and height preferences for both men and women have long been well documented, the new filter has sparked a fierce debate online. On X, formerly Twitter, user @uncanny_eli, a media and culture writer, wrote: "Men and women alike are derangingly obsessed with men's heights in theory but it doesn't really translate irl? every day i live my short guy life and it's not much issue meanwhile the popular wisdom on being a 5'6" man is 'Kill Yourself Now.'" Other users asked for a "weight filter" for women. User @Rich_Cooper wrote, "When is age and weight verification coming for women?" "Do we get a weight filter," user @Cryptoking commented. Though the filter has upset some social media users, others have poked fun at the online response. User @kmmyvu wrote on X that it was "hilarious seeing short men act like they're oppressed." Hinge and Tinder are owned by the same parent company, and as of July, Rascoff is set to lead Tinder in addition to being the CEO of Match Group. In a LinkedIn post published on May 28, Rascoff wrote, "We are rethinking not just what we build but how we build it." According to The Wall Street Journal, Rascoff recently told a group of investors: "This generation of Gen Z, 18 to 28—it's not a hookup generation. They don't drink as much alcohol, they don't have as much sex." He added, "We need to adapt our products to accept that reality." What People Are Saying A spokesperson for Tinder told Newsweek: "This is part of a broader effort to help people connect more intentionally on Tinder. Our new product principles guide every decision, and this one speaks directly to a few: prioritizing user outcomes, moving fast, and learning quickly. Not every test becomes a permanent feature, but every test helps us learn how we can deliver smarter, more relevant experiences and push the category forward." X user @enemycharlie wrote: "Not to side with the men here, but why do women 5'3" and under have such strong preferences for men 6ft+. you are a hobbit, 5'8" is tall enough. you can't even tell when your 5'8" boyfriend is lying about being 6'0" because you're so short." Bodybuilder Jeff Nippard wrote on X: "This really isn't a big deal. As a short man, if a woman doesn't find you attractive because of your height then why would you want to be with her anyway?" What Happens Next It remains to be seen whether more features will be released as part of Tinder's rebrand.
Toronto Sun
01-06-2025
- Entertainment
- Toronto Sun
Tinder revamp aimed at Gen Zers who 'don't have as much sex'
Tinder's reputation as a 'hookup app' will be a thing of the past if the app's new chief executive has his way. Photo by iStock / GETTY IMAGES Tinder's reputation as a 'hookup app' will be a thing of the past if the app's new chief executive has his way. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Tinder revolutionized dating for a generation of millennials upon its launch in 2012, but it has been losing appeal among members of the Gen Z demographic, or people aged 18-28, not including those too young to download dating apps. Now, Spencer Rascoff is hoping to win over Gen Zers who he says 'don't have as much sex.' 'This generation of Gen Z, 18 to 28 — it's not a hookup generation. They don't drink as much alcohol, they don't have as much sex,' the 49-year-old chief executive of Tinder owner Match Group, told investors this month, per the New York Post . 'We need to adapt our products to accept that reality,' added Rascoff, the co-founder and former CEO of real estate marketplace Zillow. The company wants to create low-pressure ways for people to meet on the app, such as a 'double dating' feature, to win over Gen Zers. This advertisement has not loaded yet, but your article continues below. The feature allows users to pair up with friends and match with other pairs for dates. It will be launched globally this summer, Rascoff told the Wall Street Journal . Tinder has been testing 'double dating' in Europe and has seen positive results. Rascoff took the top job at Match Group, which owns Tinder, Hinge and OkCupid, a few months ago, and has said that fixing Tinder is his main concern. He recently announced that he'd be stepping in to lead Tinder, too, after Faye Iosotaluno posted on LinkedIn that she will depart in June after less than two years on the job. Recommended video In an internal memo, Rascoff asked staffers to speed up product changes, leverage artificial intelligence and focus on improving user safety, according to the Journal. Employees should focus on improving the user experience, even if it comes at the expense of short-term revenue, he said. 'Users don't want more matches, they want better ones,' he said in the memo. Gen Zers have left the platform in search of dating apps that could lead to more lasting relationships. Among 500 dating app users, about 85% said they didn't use Tinder because of its association with 'hookups,' according to a 2023 Wells Fargo survey. Sports Editorial Cartoons Columnists Toronto & GTA Sunshine Girls
