Tinder is laying off staff. It’s cutting one service
Tinder is cutting one service and is planning to lay off some of its employees as a result. The company is doing what it can to keep its business on track. Users seem to be getting happier.
Tinder, the leading dating app, has dropped its live streaming service. As a result, there will be a lot of exemptions. The company said that plans to lay off 6% of the staff.
Tinder shares rose more than 8% after the company reported solid second-quarter revenue and the company saw a smaller decline in the number of paying users. Dating apps like Tinder and its competitor Bumble are still feeling the effects of the pandemic, which has slowed their user growth. In many cases, the rollout of new app features is also severely delayed.
While year-over-year growth in the number of Tinder paid users remains a challenge, recent trends and data indicate that satisfaction levels for these types of users are increasing and their numbers are slowly growing.
– said M Science research analyst Chandler Willison.
The number of paying Tinder users fell 8% to 9.6 million in the second quarter, down from 9% in the previous quarter. This seems like a good direction to keep the app on the right track. Investors have already been pushing for a sale of the company if it can’t revive the business. Match Group (Tinder) expects third-quarter revenue of about $900 million. But there’s still a long way to go. The app’s downloads worldwide, however, are falling more than they’re rising.
See: Don’t Ask Your Friends. Tinder Will Choose What’s Best for You
See: Are You Using Dating Apps? You Should Know This
