Appointments Follow Constructive Engagement
with Elliott Investment Management
DALLAS, March 25, 2024 /PRNewswire/ -- Match Group
(NASDAQ: MTCH) ("Match" or the "Company") announced today that it
has appointed Laura Jones and
Spencer Rascoff to the Company's
Board of Directors, effective immediately.
"We are pleased to welcome Laura and Spencer to the Match Group
Board as part of our ongoing efforts to add skills and expertise
that complement the capabilities of our existing directors and will
further support the Company's long-term success," said Tom McInerney, Chairman of Match Group. "Laura
has deep experience creating best-in-class marketing organizations
that have shaped brands and fueled growth, and Spencer is a
distinguished entrepreneur with a proven track record of building
and scaling consumer internet businesses. This is a time of great
opportunity for Match Group, and we believe Laura and Spencer will
be additive as we deliver on our strategy to drive value."
"At Match Group, we are focused on continuously innovating and
evolving our global platform," said Bernard
Kim, Chief Executive Officer at Match Group. "To that end,
we are executing strategies to enhance performance at Tinder,
continue to drive growth at Hinge and improve user experiences
across our platform to meet changing needs and expectations. I look
forward to collaborating with Laura, Spencer and the rest of the
Board as we create value by connecting millions of people around
the world in meaningful ways."
"I'm honored to be joining the Match Group Board during this
incredibly important time for the Company as it continues to evolve
and address the changing needs of its customers," said Ms. Jones.
"I look forward to working with the rest of the Match Group Board
and management team and bringing my global marketing and product
expertise to the Company as it focuses on driving long-term user
and revenue growth."
"I'm joining the Match Group Board because of the opportunity to
build on the Company's disruptive technology and AI to evolve
existing brands and build new ones," said Mr. Rascoff. "Match Group
has a strong foundation, and I am eager to accelerate the momentum
underway to generate value for all stakeholders."
The appointments followed a constructive dialogue with Elliott
Investment Management, L.P. (together with its affiliates,
"Elliott"), with which the Company also entered into an
information-sharing agreement to facilitate ongoing collaboration
toward the Board's goal of driving sustainable value for all
shareholders.
Marc Steinberg, Partner at
Elliott, said, "We are one of the largest investors of Match Group
today because we believe in its opportunity for significant value
creation as the global leader in online dating. We appreciate the
collaboration with management and the Board over the past several
months, and we are confident that Laura
Jones and Spencer Rascoff are
strong additions to the Board. We believe their unique skills and
perspectives will help support the Company through its next phase
of growth, and we look forward to continuing our collaboration with
Match Group and its management team as the Company executes on the
substantial opportunity ahead."
Mr. McInerney continued, "We have engaged constructively with
Elliott and appreciate the feedback they have shared. We remain
confident in our portfolio strategy and our ability to drive
long-term sustainable growth and increase profitability."
Match Group looks forward to continuing to engage with Elliott
and all its shareholders, including at an investor day, to showcase
the Company's full management team and business prospects. The
Company will provide more details on the investor day once a date
for the event has been set.
About Laura Jones
Ms.
Jones is the Chief Marketing Officer at Instacart, where she is
responsible for shaping a cohesive brand, fueling the company's
growth and developing a world-class marketing organization. She
oversees all Marketing functions encompassing brand, partner and
product marketing, CRM, the Creative Studio, and the full-funnel
media team spanning brand and performance. Prior to Instacart, Ms.
Jones spent six years at Uber, most recently as the Global Head of
Marketing for its Rides business. At Uber, she built the global
product marketing team from the ground up, spanning the entire
product portfolio (Rides, Eats, Freight, etc). Before Uber, Ms.
Jones held various senior marketing positions at Google and Visa.
Ms. Jones graduated from Dartmouth
College with a Bachelor's degree in Economics and Government
and received her Masters in Business Administration from
Stanford University.
About Spencer
Rascoff
Mr. Rascoff co-founded Zillow and served
as its CEO for a decade. During Mr. Rascoff's time as CEO,
Zillow won dozens of "best places to work" awards as it grew
to over 4,500 employees, $3 billion
in revenue and $10 billion in market
capitalization. Prior to Zillow, Mr. Rascoff co-founded and was VP,
Corporate Development of Hotwire, which was sold to
Expedia for $685 million in
2003. Mr. Rascoff is co-founder and Chair of Pacaso, a marketplace
for vacation home ownership, as well as founder of several
early-stage startups. Mr. Rascoff is an angel investor in more than
50 companies through his startup studio and venture capital firm,
75 & Sunny Ventures. Mr. Rascoff is also a visiting professor
at Harvard where he teaches classes on
entrepreneurship and startups. Mr. Rascoff graduated from
Harvard University with a Bachelor's
degree in Government.
About Match Group
Match Group (NASDAQ: MTCH), through
its portfolio companies, is a leading provider of digital
technologies designed to help people make meaningful connections.
Our global portfolio of brands includes Tinder®, Hinge®, Match®,
Meetic®, OkCupid®, Pairs™, PlentyOfFish®, Azar®, BLK®, and more,
each built to increase our users' likelihood of connecting with
others. Through our trusted brands, we provide tailored services to
meet the varying preferences of our users. Our services are
available in over 40 languages to our users all over the world.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
This release may contain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements that are not historical facts
are "forward looking statements." The use of words such as
"anticipates," "estimates," "expects," "plans" and "believes,"
among others, generally identify forward-looking statements. These
forward-looking statements include, among others, statements
relating to: Match Group's future financial performance, Match
Group's business prospects and strategy, anticipated trends, and
other similar matters. These forward-looking statements are based
on management's current expectations and assumptions about future
events, which are inherently subject to uncertainties, risks and
changes in circumstances that are difficult to predict. Actual
results could differ materially from those contained in these
forward-looking statements for a variety of reasons, including,
among others: our ability to maintain or grow the size of our user
base, competition, the limited operating history of some of our
brands, our ability to attract users to our services through
cost-effective marketing and related efforts, our ability to
distribute our services through third parties and offset related
fees, risks relating to our use of artificial intelligence, foreign
currency exchange rate fluctuations, the integrity and scalability
of our systems and infrastructure (and those of third parties) and
our ability to adapt ours to changes in a timely and cost-effective
manner, our ability to protect our systems from cyberattacks and to
protect personal and confidential user information, risks relating
to certain of our international operations and acquisitions, damage
to our brands' reputations as a result of inappropriate actions by
users of our services, uncertainties related to the tax treatment
of our separation from IAC, uncertainties related to the
acquisition of Hyperconnect, including, among other things, the
expected benefits of the transaction and the impact of the
transaction on the businesses of Match Group, and macroeconomic
conditions. Certain of these and other risks and uncertainties are
discussed in Match Group's filings with the Securities and Exchange
Commission. Other unknown or unpredictable factors that could also
adversely affect Match Group's business, financial condition and
results of operations may arise from time to time. In light of
these risks and uncertainties, these forward-looking statements may
not prove to be accurate. Accordingly, you should not place undue
reliance on these forward-looking statements, which only reflect
the views of Match Group management as of the date of this letter.
Match Group does not undertake to update these forward-looking
statements.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/match-group-appoints-laura-jones-and-spencer-rascoff-to-board-of-directors-302097777.html
SOURCE Match Group
