Tinder: CEO Renate Nyborg to leave dating app after one year

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The CEO of the dating app is leaving the company less than a year after taking the job.

A number of management changes were announced by Match Group.

Virtual currency and metaverse-based dating are two of the new technology that will be adopted by the dating app.

Match reported second quarter results that missed expectations.

Match Group chief executive Bernard Kim said in a letter to shareholders that he had made some changes to the management team and structure that he was confident would help deliver the full potential of the dating app.

While the company searches for a permanent chief executive, Mr Kim will take up the position that was previously held by Ms. Nyborg.

"I have loved every moment of the last two years, working with an I.N.C.R.E.D.I.B.L.E team on the magic of human connection," she wrote.

There was a review of plans for rolling out new technology in the announcement.

"After seeing mixed results from testing, we've decided to take a step back and re-examine that initiative."

Match said it expects sales in the three months to the end of September to be between $790 million and $800 million.

The company would not see a sales growth for the period due to that.

The impact of the Pandemic on people's willingness to use dating apps was pointed out by Mr Kim.

He said that while people have moved past lockdowns and entered a more normal way of life, their willingness to try online dating products for the first time hasn't yet returned to pre-pandemic levels.

Match Group's shares fell in New York.

She was the first female chief executive of the dating app.

Mr Kim took over as Match's chief executive in May after his predecessor stepped down.

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