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Tinder owner’s stock plunges on weak subscriber growth

The company that owns Tinder just got ghosted on Wall Street. Shares of the hook-up app’s corporate owner Match Group plunged as much as 20 percent Wednesday after it gave a surprisingly weak forecast for subscriber growth. The Dallas-based Match warned that it now expects Tinder’s quarterly crop of new paying subscribers will fall below the usual range of 200,000 to 250,000. When asked on a Wednesday conference call whether Tinder’s numbers would rebound, Match execs didn’t directly respond. Tinder added 344,000 paying subscribers in the most recent quarter. Chief Financial Officer Gary Swidler admitted that many users weren’t renewing subscriptions to Tinder’s paid premium tier introduced last year, Tinder Gold — whic ...
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