Disappointing financial results in the last quarter prompted the Match group, owner of the dating app Tinder, to scale back its ambitions in the metaverse. The boss of the company behind the application, Renate Nyborg, who embodied this new direction, will also leave her post.
The latter took on the role only last September, shortly after Tinder acquired Hyperconnect, a company specializing in video and artificial intelligence and augmented reality technologies.
The transaction was to be a starting point to enable users to meet virtually in the
Tinderverseas Renate Nyborg called her.
The boss of Match, Bernard Kim, however indicated in a report intended for investors that the company was going to reduce its stake in the sites of the metaverse.
We will consider moving forward at the appropriate time when we have a clearer idea of the possibilities. [du métavers] and that we will feel that we will have a service ready to succeedhe explained.
The Match group also announced that it would reduce its rate of hiring and its marketing budgets.
Tinder Coins on hiatus
Tinder will also reassess its Tinder Coins project, which is in the test phase. This is a currency created for the app that rewards regularly active users, but can also be purchased. It is used, among other things, to activate premium functions of the application. Test results were mixed, according to Match’s report.
The Match group’s share price plunged by more than 20% at the end of the day on Tuesday following the announcement of disappointing financial results.