Match appoints Zillow co-founder Spencer Rascoff as CEO

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Match appoints Zillow co-founder Spencer Rascoff as CEO

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

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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

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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

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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.

WATCH: How I built my $400 million-a-year dating app Hinge

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#Match #appoints #Zillow #cofounder #Spencer #Rascoff #CEO

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