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 announced 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 better-than-expected fourth-quarter 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.
Rascoff, 49, is best known for his role at Zillow. He co-founded the real estate technology company nearly two decades ago and served in various roles, including CEO, before departing in 2019. The Harvard University graduate also founded online travel website Hotwire, which Expedia bought for nearly $700 million in 2003.
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 $30 billion at the time 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.
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