Tinder CEO Steps Down For The Second Time

Sean Rad, the CEO of IAC/InterActiveCorp (NASDAQ: IAC)'s Tinder property, is stepping down — again.

Rad co-founded the popular online dating app four years ago, but IAC pushed him out as CEO in 2015 to be replaced by Christopher Payne, a former executive with stints at eBay Inc (NASDAQ: EBAY), Amazon.com, Inc. (NASDAQ: AMZN) and Microsoft Corporation (NASDAQ: MSFT). A few months later, Payne left his job and Rad once more assumed the CEO title of Tinder.

Focus On The Future

According to Business Insider, Rad will once more step down as CEO of Tinder. This time, however, he will remain on board as chairman and help guide the company's strategy.

Rad will also oversee "Swipe Ventures," which will focus on acquiring companies to help build out Tinder even more. He believes companies such as Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Facebook Inc (NASDAQ: FB) and Snapchat improved their businesses through strategic M&A deals that unlocked new growth and hopes to achieve success with Tinder by following a similar strategy.

"In order to grow the company further, or at least where I can add value [...] is to start looking at other companies to buy to expand our footprint," Business Insider quoted Rad as saying. "And I started down that road and quickly realized I don't have a lot of time to do everything."