Tinder announced today the launch of Swipe Ventures, which will seek to expand the app’s footprint through acquisitions and investments in new and existing businesses within the dating and social space.
Swipe Ventures will be led by Sean Rad, Tinder’s cofounder and CEO. As a result he will step down from his role as CEO of Tinder. Rad will take over as chairman of Tinder, while current chairman Greg Blatt will become CEO of Tinder. Blatt is also CEO of Match, which owns Tinder.
“There is so much untapped opportunity in our space,” said Rad. “My new role allows me to continue to contribute meaningfully to the overall strategy of Tinder, while expanding Tinder’s footprint through Swipe Ventures.”
“A growth company like Tinder often requires operational and structural changes as it evolves through its multiple stages of development,” said Blatt. “This new configuration will allow Tinder to capture its full potential.”
Launched in 2012, Tinder is used in nearly 200 countries and has more than 1.6 million paying subscribers. Each day, 26 million matches are made on Tinder with more than 20 billion matches made to date.