Jul 31, 2024
Tinder parent company cuts jobs as subscriber numbers slump
Tinder's parent company, Match Group Inc, plans to cut 6% of its global workforce amid a continued slump in users paying for its most popular dating app. Match has now reported declines in Tinder subscriber numbers for several consecutive quarters - though it remains the world's most popular dating app, and the latest dip was less than some investors anticipated. Tinder is increasingly being challenged by rival dating apps such as Bumble, which reported an increase in its number of paying users last quarter. "We expect Tinder to begin testing new lower pressure forms of discovery in the coming quarters, including more ways for users to use Tinder with friends." Mr Mould added that Tinder's slowed decline in paying users, along with the growth of Hinge, presented a "Glimmer of hope" for its parent company.
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