Match Group Inc. named Zillow Group Inc. co-founder Spencer Rascoff as its new chief executive officer, replacing Bernard Kim who has struggled to end a persistent decline in subscribers to the company’s flagship dating app Tinder.

Spencer Rascoff, the tech veteran who co-founded and led Seattle-based real estate company Zillow Group, has been named CEO of Match Group, the company announced Tuesday.

Match Group's Board of Directors (NASDAQ: MTCH) today announced that Spencer Rascoff has been named Chief Executive Officer, effective immediately. Match Group's portfolio of over 20 brands includes category-leading global dating apps Tinder,