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U.S. Senators Press Tinder Parent Match to Address Dating Scams

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Two U.S. senators urged Match Group, the parent company of Tinder, to step up its fight against romance scams across its dating platforms. In a letter sent Wednesday to CEO Spencer Rascoff, Democratic Senator Maggie Hassan and Republican Senator Marsha Blackburn requested details on Match’s policies and safeguards against fraudulent activity.

Romance scams typically involve fraudsters creating convincing but fake profiles to lure victims into prolonged interactions before soliciting money or gifts. The senators expressed concern that Match’s platform design and algorithms may unintentionally foster trust that scammers exploit.

According to the FBI, cybercrime caused victims more than $16 billion in global losses last year, with romance scams alone responsible for hundreds of millions of dollars.

Hassan and Blackburn gave Match until October 15 to provide documents showing its prevention measures and an explanation of how scams persist on its apps, which also include Hinge and OkCupid.

In response, Match said it welcomed “constructive conversations” with lawmakers. Yoel Roth, the company’s Trust & Safety chief, said Match has invested heavily in advanced fraud detection systems, user safety features, and partnerships with law enforcement and industry groups.

Match has faced regulatory scrutiny before. In 2019, the Federal Trade Commission accused the company of sending fake “interest” notifications from accounts it knew were fraudulent on Match.com. The Department of Justice later closed its probe in 2020.

To combat impersonation, Match has introduced tools like “face check” to verify profiles and reduce the spread of fake accounts.

Bumble shares drop as AI revamp fails to reverse paying user decline

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Bumble’s stock tumbled 17% on Thursday after the dating app operator posted another quarterly drop in paying users, raising doubts about its AI-driven turnaround plan and long-term growth outlook.

The company revealed that total paying users fell 8.7% year-on-year to 3.8 million in Q2, despite efforts to enhance match quality and connect users with similar engagement levels and intentions.

In contrast, rival Hinge — owned by Match Group — has been outperforming thanks to its broader international presence and more competitive AI tools, which provide personalized matches and boost engagement. Analysts note that Hinge’s emphasis on authentic profiles and creative prompts has helped sustain stronger user retention rates.

Bumble is still in the early stages of its strategy to improve user experience, introducing AI-powered features to bolster trust and safety. However, analysts warn that the tighter verification measures could slow user and payer growth in the short term.

Citi analysts noted that visibility into future user and payer trends remains low, and that increased marketing and R&D spending could put pressure on margins into 2026.

Shares of the Austin-based company are down over 6% this year, currently trading at 7.96 times projected earnings for the next 12 months, compared with Match Group’s 14.64.

Bumble’s Paying User Decline Raises Concerns Amid AI-Driven Revamp

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Bumble, the dating app operator, reported a decline in paying users during the second quarter, casting doubts on the speed of its AI-fueled turnaround efforts and causing its shares to drop 8% in after-hours trading. The company’s paying user base fell 8.7% to 3.8 million, highlighting ongoing challenges in re-engaging its core audience.

Despite deploying artificial intelligence tools to fight industry-wide “dating fatigue,” analysts note that Bumble lags behind larger rival Match Group, whose AI initiatives are more advanced. Bumble’s recent AI-powered coaching hub aims to enhance user experience by blending human expertise with machine learning, but much of its innovation remains in early testing stages.

Financially, Bumble posted a net loss of $367 million in Q2, including $404.9 million in non-cash impairment charges, a significant turnaround from a net profit of $37.7 million a year earlier. The company did not elaborate on the one-time costs.

To attract younger users, Bumble plans to launch a new Bumble BFF app this month aimed at Gen Z, alongside community-driven offline events designed to foster friendships beyond dating.

Revenue for the quarter came in at $248.2 million, slightly above analysts’ expectations of $245.1 million. For the third quarter, Bumble forecasts revenue between $240 million and $248 million, exceeding the average estimate of $241.4 million.

The company also announced a leadership change, appointing Kevin Cook—formerly CFO at Cloudera—as its new CFO, effective August 12, replacing interim CFO Ronald Fior.