March 25 (Reuters) - Tinder-owner Match Group ( MTCH )
named Instacart executive Laura Jones and Zillow ( ZG ) co-founder
Spencer Rascoff to its board on Monday, after talks with
activist investor Elliott Investment Management to improve its
performance.
Jones is the chief marketing officer at Instacart
while Rascoff has served as Zillow's ( ZG ) CEO for a decade after
co-founding the real estate firm in 2006.
Growth has slowed at Match from the peaks hit during the
pandemic, as economic uncertainty and a lack of new features
prompt people to cut back on spending on its dating apps.
The company tapped insider Faye Iosotaluno as CEO of Tinder
in January, a day after the Wall Street Journal reported that
Elliott has built a roughly $1 billion stake in the company.
Match said on Monday it has an information-sharing deal with
Elliott, whose push for change at the dating firm follows a big
win for the hedge fund at wireless tower operator Crown Castle ( CCI )
in December.
The activist investor, founded by billionaire Paul Singer in
1977, forced Crown Castle ( CCI ) last year to review its fiber business
and replace two directors on its board.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Arun
Koyyur)