Match Names New CEO Amid Slowing User Engagement, Issues Dour Annual Forecast

Match Group said on Tuesday it has appointed Spencer Rascoff as its new chief executive officer, at a time the company looks to attract more users to its dating apps, including its flagship platform Tinder.

Shares of the company dropped 9% in extended trading, after it forecast annual revenue below Wall Street estimates.

Online dating apps have been seeing a slowdown in demand and user engagement over the past few years as economic uncertainty and a lack of new features prompted people to cut back on spending.

Read the full article on Reuters.