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here's your Daily Crunch. Coming up, Tough Times for Tinder, Shopify's 100 million dollar investment and more

meta staff changes.

Dating Giant Match Group announced a series of changes to Tinders Management team alongside

the announcement of disappointing second quarter earnings on Tuesday.

Match Group is also killing Tinders' plans to adopt new technology,

like virtual currencies and Metaverse-based dating.

In a shareholder letter, Match Group CEO Bernard Kim chalked up Tinders' troubles to disappointing

execution on several optimizations and new product initiatives, but added that Tinders'

product execution and velocity could still be improved.

Reading in between the lines, there was also a hint that the younger generation of users

may have lost its appetite for dating apps like Tinder, a culture shift which can't just be chocked up to lingering

pandemic impacts. The letter notes that people have moved past COVID lockdown and reentered

a more normal way of life, but their willingness to try online dating apps

...