Match Group

And this is Most Innovative Companies.

On today's episode, my conversation with Match Group CEO Spencer Raskoff on stage at the Fast Company Innovation Festival.

Then I talk to 800-pound Gorilla founders Ryan Bitzer, Ian Atkins, and Damian Greiman about building a comedy powerhouse and launching their own streaming service.

Hey,

It was so far afield, it just smacked them right in the nuts.

Well, speaking of people who might have some trouble getting a date after videos of their athletic pursuits, that sort of leads us into our first segment for today, which was one of your conversations on stage at Fast Company Innovation Festival.

Are you aware that one conglomerate owns basically every dating app aside from Bumble? Tinder, Hinge, Match.com are all owned by the Match Group.

I spoke to its CEO, Spencer Raskoff, at the Fast Company Innovation Festival.

You want people to stop using your product because you want them to find success as soon as possible.

I was looking at the market cap of your holding company, Match Group.

It's around 25% up here today.

You look at SaaS companies, most of them are down.

Otherwise, success is almost impossible to achieve.

Totally.

And look, speaking of AI, I was looking at the market cap of your holding company, Match Group.

It's around 25% up year to date.

in their job.

They lead the brand strategy at Match Group and is an accomplished marketing and brand strategist, shout out to the comms degrees, who experience spans in digital content, social strategy, brand management, and agency-client relations.

I know that's right.

I love to see Black women in positions, um, that make Molly run for the hills.

[laughs]

At Match Group, she helps develop the brand ideas and audience insights that support meaningful connections at scale.

I, it just, at scale.

That's just so, that's, that-

Singles are running away from popular dating apps.

Match Group reported a 6% year-over-year drop in paid customers.

Match Group owns Tinder, Hinge, Match, OkCupid, and Bumble.

CNN reports the dating app user base fell by 16.4%.

And taking a look at your money at this moment, the Dow is down by 92 points, sitting at 52,480.

So how did you get to a place where it's like, okay, you know, there are improvements that we need to make here and, you know, share with us what you can about, you know, the, some of the goals that you've had, like when you realize like, all right, this is, we need to be better here.

Yeah, I'll tell you, the dynamic shift was our CEO of Match Group also became the CEO of Tinder, our largest brand.

And he immediately looked at how we manage that business and decided that we were going to be a product led organization.

It was focused on product and the consumer.

What if the best dating app is the one designed to get you off it? Today, I'm joined by Shahzad Younas, founder and CEO of Moz, the world's largest Muslim marriage app.

In this episode, we talk about why he thinks dating apps are incentivized to keep you single, why Moz deliberately adds friction and limits conversation, and why he turned down Match Group, and what millions of users have taught him about what men and women actually want, and how AI could completely change matchmaking.

This is Shahzad Younas.

Why did you build a dating app that ultimately wants its users to leave?

Let's say you look at Tinder and you look at Hinge.

They're both owned by the same company, Tinder and Hinge.

Now, if you look at Hinge for argument's sake, Match Group would classify Hinge as, oh, it's a slightly more serious app.

know which by definition and for them all right hinders the slightly more hookup enjoy your single life app