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Tinder-owner Match Group names new board directors after Elliott push
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Tinder-owner Match Group names new board directors after Elliott push
Mar 25, 2024 4:50 AM

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)

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