Tinder-owner Match Group have appointed two new members to its board of directors and agreed to a deal with Elliott Management, the company said Monday. Two new members joining the board as per CCN reports, Laura Jones, Chief marketing officer at Instacart and co-founder of Zillow Spencer Rascoff, effective immediately.

Match said in a statement the appointments followed "constructive dialogue" with the activist investor after the two companies agreed on an "information-sharing" agreement. The announcement today comes a few months after The Wall Street Journal reported that Elliott has built a roughly $1 billion stake in the company.

We are one of the largest investors of Match Group today because we believe in its opportunity for significant value creation as the global leader in online dating," Marc Steinberg, a partner at Elliott, said in a press release.

By the way, the firm was reported to be interested in discussing the ways of turning performance around for Match, which experiences declining paying users amidst an economic downturn. "We appreciate the cooperation with management and the Board over the past few months, and we are confident that Laura Jones and Spencer Rascoff are strong additions to the Board. We believe their unique skills and perspectives will help support the Company through its next phase of growth."

Elliott has made himself a name for creating stakes in technology firms and forcing shareholder shareholder changes. This is the activist investor's latest push for change, this time at the dating firm, coming after board shakeups at Crown Castle and Etsy.

In Match's fourth quarter for 2023, the company reported that total paid users declined 5 percent year-over-year to 15.2 million. Since reaching records amid the COVID-19 pandemic, Match has slowed its growth as the company lost 79% in stock value from the peak hit in 2021.

Match is the parent company of several highly popular dating apps, including Tinder, Hinge, Match.com, Meetic, OkCupid, Hinge, Plenty of Fish, OurTime, and others.