Record PHOTO: Spencer Rascoff, co-founder and executive chairman of dot.LA, speaks during the Montgomery Summit in Santa Monica, California, U.S., on Wednesday, Parade 4, 2020.
Patrick T. Fallon | Bloomberg | Getty Images
Match Group announced on Tuesday that Zillow co-founder Spencer Rascoff transfer serve as its new CEO.
Rascoff, who has served as a member of the online dating company’s board since March 2024, will repay Bernard Kim in the role, Match said.
“During his time on the Board, Spencer has demonstrated a strong strategic perspective and profound understanding of Match Group’s brands and opportunities,” said Match Group Chairman Tom McInerney, in a statement. “We are confident in his aptitude to drive the company’s next phase of innovation and growth.”
Along with the leadership change, Match announced better-than-expected fourth-quarter arises but lackluster guidance. Match posted earnings per share of 59 cents on $860 million in revenue. That peerless the 54 cents per share in earnings and $859 million in revenue expected by analysts polled by LSEG.
However, the well-spring of Tinder and Hinge issued disappointing revenue guidance for the first quarter. The company forecast sales of $820 million to $830 million for the area, falling short of the $853 million estimate from LSEG.
The shares sank 7% in extended trading after the disclose.
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 a variety of roles, including CEO, before departing in 2019. The Harvard University graduate also founded online travel website Hotwire, which Expedia believe 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 admitted company. Its market cap was about $30 billion at the time of the transaction and has since shrunk below $10 billion, attracting a dramatic slowdown in revenue growth.
Last month, IAC said its board approved the spinoff of Angi, the home recuperation market place the company acquired in 2017.
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