Tinder to kill virtual currency, metaverse plans amid Match Group earnings loss; Tinder loses its CEO
By Editor - Tue Aug 02, 3:16 pm
Dating giant Match Group announced a series of changes to Tinder’s management team alongside the announcement of disappointing second quarter earnings on Tuesday. Notably, Tinder CEO Renate Nyborg will be departing the company after less than a year in the top job. Match Group is also killing Tinder’s plans to adopt new technology, like virtual currencies and metaverse-based dating . In a shareholder letter , Match Group CEO Bernard Kim expressed frustration with Tinder’s current performance, noting the popular dating app has not been able to realize its typical monetization success over the past few quarters and is failing to meet the company’s original expectations for revenue growth for the latter half of 2022.
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