Tinder once seemed like the answer to finding a partner. Swipe right, match, message, meet. The sequence felt mechanical but effective. Now, the companies behind these apps are bleeding money and users. Bumble has lost 90% of its value since going public in 2021. Match Group’s stock sits far below its $169 per share peak from the same year. Something has broken in the formula.
The numbers tell a story of retreat. Match Group reported 14.5 million paying users in Q3 2025, down 5% from the previous year. Tinder specifically dropped 7% year-over-year to 9.2 million paying users. Bumble’s usership peaked at 58 million in 2023 and fell to 50 million in 2024. These are not minor fluctuations. They represent a pattern that executives cannot ignore.
The Financial Fallout
Match Group and Bumble together lost more than $40 billion combined between 2021 and 2024, according to Fast Company. Bumble’s market value has collapsed from $7.7 billion to about $673 million. Its stock has done worse than almost anyone predicted when the company debuted on public markets.
The response from leadership has been predictable. Bumble announced in June 2025 that it would lay off 30% of its workforce, around 240 positions. This came after a previous 30% cut in February 2024 that affected 350 employees. Match Group eliminated roughly 325 positions in May 2025, part of what CEO Spencer Rascoff called a “Reset, Revitalize, Resurgence” turnaround plan. The cost savings target sits at $45 million for 2025, with $100 million in annualized reductions.
Bumble’s Q1 2025 revenue was down 8%. Average revenue per paying user dropped 7.3%. The people still using the app are spending less on premium features. Retention rates have worsened across the industry. According to mobile app analytics company AppsFlyer, 65% of dating apps downloaded in 2024 were deleted within a month. In 2025, that number climbed to 69%.
Relationships Outside the Usual Channels
Dating apps are not the only option for meeting partners, and some users pursue connections that fall outside conventional categories. People looking for sugar babies or seeking arrangements with specific dynamics often use niche platforms or meet through social circles where expectations are stated upfront. These preferences exist alongside mainstream app usage, though they represent a smaller subset of the dating pool.
The broader pattern shows users moving toward methods that feel more direct. Speed dating, singles events, and introductions through friends offer face-to-face interaction without the swipe fatigue that plagues app users. According to SpeedMatchApp, event attendance for in-person dating rose 42% from 2023 to 2024.
Gen Z Is Walking Away
A survey by the Kinsey Institute and DatingAdvice.com found that only 21.2% of Gen Z participants said apps were their primary way of connecting. Meanwhile, 58% said they focused on meeting people in person. A Forbes Health survey reported that 79% of Gen Z said they felt “dating app burnout.”
The age breakdown of app users shows the generational divide. A 2023 Statista survey cited by TIME found that daters between 30 and 49, mostly millennial, make up 61% of dating app users. Gen Z accounts for only 26%. Hinge’s own dating trends report revealed that 95% of Gen Z users on its platform are fearful of rejection, and over half said worrying about rejection held them back from pursuing potential relationships.
This fear of rejection might seem contradictory. Apps were supposed to reduce the sting of being turned down by making it less personal. A swipe left carries less weight than walking up to someone and being ignored. Yet the constant exposure to rejection at scale appears to have created its own form of fatigue. The numbers add up. Hundreds of swipes, a handful of matches, a few conversations that go nowhere.
The UK Market Mirrors the Trend
A 2024 Ofcom report showed notable declines on major dating apps in the UK. Tinder lost 594,000 users between May 2023 and May 2024. Bumble dropped by 368,000. Hinge fell by 131,000. The pattern is consistent across markets. This is not a regional problem.
Speed Dating Returns
New Orleans topped Eventbrite’s 2024 list of cities showing growth in singles events. The organization tracked an 850% increase from 2023 to 2024 in events targeted at single people. Speed dating events surged 63% compared to 2022, according to an Eventbrite report cited by PureWow.
Some services have started using the term “intentional dating” to describe their approach. Companies like Lox Club, Ambyr Club, and We Met IRL host in-person events where singles can speed date and mingle. These are not bars or clubs. They are organized gatherings with the stated purpose of meeting potential partners.
The apps themselves have noticed. Bumble IRL launched in 2022 with in-person events centered around fitness, food, music, and charity. The irony is obvious. A company built on eliminating the need to meet strangers in person now hosts events for that exact purpose.
What the Industry Still Has
The global dating app market surpassed $10 billion in revenue in 2024, according to Statista. Analysts project growth at roughly 7 to 9% through 2028. Tinder, Bumble, and Hinge still dominate market share. The industry is not collapsing. It is contracting while remaining profitable.
Pew Research Center found that 3 in 10 US adults have used a dating site or app. About half described their experiences as positive. The other half reported encountering at least one unwanted behavior. The mixed results suggest that apps work for some people and fail others. The question is how many people fall into each category and how long the second group will keep trying.
The Core Problem
Dating apps promised efficiency. They delivered volume. The two are not the same thing. A person can swipe through 100 profiles in an evening and end up with nothing. Another person can meet someone at a friend’s dinner party and start a relationship. The app user spent more time. The dinner party attendee spent less effort.
The apps are optimized for engagement, not outcomes. More swipes meant more time on the platform. More time on the platform meant more potential revenue from subscriptions and premium features. The business model rewarded keeping people swiping, not helping them stop.
Young users appear to have noticed this misalignment. They are choosing events, introductions, and chance encounters over algorithmic suggestions. The companies that built empires on swipe mechanics are now trying to figure out how to host mixers. The answer to meeting people might have been obvious the whole time.
