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Ten days after Apollo Global finalized the acquisition of Yahoo (formerly Verizon Media) from Verizon for $ 5 billion, it appointed a new CEO for the group. Jim Lanzone, who is currently the CEO of the dating app Tinder, will lead the company (which, disclaimer, also owns TechCrunch). Renate Nyborg, who led Tinder’s business in EMEA, assumes the role of CEO of Tinder.
Guru Gowrappan, who had led the division for three years under Verizon, is stepping down and assuming the role of “adviser” to Apollo.
The major change of guard had been the subject of rumors for weeks before the Apollo sale closed, what our sources were saying was not inaccurate, so it shouldn’t come as a huge surprise.
Lanzone’s tenure at Tinder was only 14 months, short-lived but perhaps in line with an app optimized for speed and casual dating? Prior to that, he spent years leading CBS Interactive, among other roles in media and especially digital media, including building digital media startups, like this online video guide launched at TechCrunch Disrupt a couple of years ago. many years (this company, Clicker, was acquired by CBS, which is how he ended up running CBS Interactive). Prior to that, he worked at IAC, the company that initially incubated and launched Tinder.
“Jim has a remarkable track record in leading and growing innovative companies in our industry, and we are delighted to welcome him on board. With his proven experience and management skills, we are confident that Jim is the right leader to lead Yahoo through a new phase of transformation that can leverage the best of Yahoo’s platform and performance to reach new heights. Yahoo Chairman and Apollo Partner Reed Rayman said in a statement. “We would also like to thank Guru for his significant contributions to the business, passing the baton after three consecutive quarters of double-digit growth. We look forward to working with him in his new role as Apollo Advisor.
Nyborg is young but has a very long history in tech – and another warning, this is a friend of mine – which includes time at Headspace, working at Apple in different roles in subscriptions and developer relations, creating its own startups and more.
His connection to Tinder is professional and personal.
“I slipped straight on my husband and it changed my life,” she said in a statement. “Being the CEO of this company is a truly humbling and extraordinary opportunity; to make that happen for the next generation of singles around the world. The Tinder team is – hands down – the most innovative and inspiring group I have ever worked with. We’re building the funniest, most inclusive, and safest place for singles to connect. And you can see this evolution on our app. We build the technology and raise the bar for the industry with it.
The two big changes leave a lot of question marks in the air for both companies. For Yahoo, many will wonder how and if Apollo plans in the longer term to continue to run the organization as a cohesive whole, or if it will sell it for parts, as is sometimes the trend with capital companies. investment. The appointment of Lanzone implies that there could be a broader vision of transforming the business into a more profitable operation as is with a media and content face to the fore. Or at least tighten it up to make it more appealing to other digital media conglomerates.
For Tinder, appointing a woman to the top position is a major step in giving the app a more human face after years of controversy behind her and one of its co-founders, Whitney Wolfe-Herd, who ultimately left and built Bumble – a more female-friendly dating app – to take Tinder head on.
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