Sean Rad, the co-founder and CEO of the courting app Tinder, is being demoted to president so as to “concentrate on the product.” The transfer was first reported by Forbes , which chronicles the rise of the app and its struggles — most notably a sexual harassment controversy.
Earlier this yr, the corporate’s former VP of selling Whitney Wolfe sued the company for “sexual harassment and intercourse discrimination.” Tinder’s chief advertising officer, Justin Mateen, was suspended (and subsequently resigned).
Forbes cites an unnamed insider, who stated: “If the Whitney factor did not occur it might be troublesome for IAC to demote Sean, as a result of they’d have lots to reply for… However the lawsuit gave them an out.” Based on the report, IAC didn’t need his “potential newbie errors” to threaten the quick-rising startup. IAC additionally owns Okcupid, Match.com and HowAboutWe.
Whereas it seems to be like Rad will stick with the corporate and assist search for one other CEO, will he stay there for lengthy? From Forbes:
The recurring query is whether or not Rad will stay at Tinder lengthy sufficient to even see 2016. The person who in Philly was debating whether or not he ought to give up appears decided now to play by way of, saying he’ll do no matter he deems is greatest for Tinder. With a ten% stake in a product that is already value ten digits, he definitely has incentive to keep it up. “I could be naïve in saying this, however the soul of a shopper firm is the product,” says Rad. “You’re taking away the product management, and the corporate dies.”
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