Still, with no sell ratings on the stock so far, many on Wall Street have continued to keep faith the company and its online dating peers despite their dwindling valuation, pinning hopes on further product upgrades in 2024 and the addressable market’s size
Match rival Bumble Inc. has fared even worse, with its stock dropping 30% in the past 12 months. Its shares neared a record low in November after reporting worse-than-expected revenue outlook and news of founder Whitney Wolfe Herd stepping down as chief executive officer and transitioning into the role of executive chair.
Following frequent executive changes at Match Group and at its biggest brand, Tinder, the company has been hoping to deliver on a turnaround with the appointment of veteran mobile gaming executive Bernard Kim to the top job in 2022
Kim introduced a series of management and organizational changes to improve product execution and reverse losses. Continue reading
