FILE PHOTO: Spencer Rascoff, co-founder and executive chairman of dot.LA, speaks during the Montgomery Summit in Santa Monica, California, U.S., on Wednesday, March 4, 2020.
Patrick T. Fallon | Bloomberg | Getty Images
Match Group announced on Tuesday that Zillow co-founder Spencer Rascoff will serve as its new CEO.
Rascoff, who has served as a member of the online dating company’s board since March 2024, will replace Bernard Kim in the role, Match said.
“During his time on the Board, Spencer has demonstrated a strong strategic perspective and deep understanding of Match Group’s brands and opportunities,” said Match Group Chairman Tom McInerney, in a statement. “We are confident in his ability to drive the company’s next phase of innovation and growth.”
Along with the leadership change, Match announced better-than-expected fourth-quarter results but lackluster guidance. Match posted earnings per share of 59 cents on $860 million in revenue. That topped the 54 cents per share in earnings and $859 million in revenue expected by analysts polled by LSEG.
However, the parent of Tinder and Hinge issued disappointing revenue guidance for the first quarter. The company forecast sales of $820 million to $830 million for the quarter, falling short of the $853 million estimate from LSEG.
The shares sank 7% in extended trading after the report.
Match was fully spun out of Barry Diller’s IAC Group in 2020, but has had a tough run as an independent public company. Its market cap was about $30 billion at the time of the transaction and has since shrunk below $10 billion, reflecting a dramatic slowdown in revenue growth.
Last month, IAC said its board approved the spinoff of Angi, the home improvement market place the company acquired in 2017.
