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Stock impact report

Match Names Zillow Co-Founder Rascoff as CEO, Replacing Kim [Yahoo! Finance Canada]

Bumble Inc. - common stock (BMBL) 
Most Read from Bloomberg The appointment of Rascoff, who joined Match's board last year following discussions with activist investor Elliott Investment Management, is effective immediately, Match said in a statement late Tuesday. Kim, who had served as CEO for less than three years, is also stepping down from the company's board. Activist investors including Elliott and Anson Funds Management LP had amassed stakes in Match last year to push for a more aggressive turnaround plan. Instead, Tinder executives warned in December of declining to flat direct revenue through 2026 and low-single digit growth in 2027. It laid out plans at the time to prioritize user experience over monetization in a bet that it could ditch its reputation as a “hookup app.” Match also reported earnings, as well as a first-quarter outlook that fell far below analysts' expectations. The company projected revenue of as much as $830 million in the first quarter. Analysts had projected an average of $852.7 mil Show less Read more
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