Tinder founder Sean Rad dumped as CEO following IAC intervention
Sean Rad, the founder and chief executive of Tinder has been demoted by parent company IAC after two years in charge.
Sean Rad will continue in a yet-to-be-defined role at Tinder
The head of the dating app, which helps users meet new people and date, was informed of the decision to remove him from the role by mobile before a speech at an event in Philadelphia, according to Forbes.
Sam Yagan, a co-founder of OK Cupid, who also works for IAC, reportedly told Rad last month about the demotion via phone call.
The news came just before Rad spoke at the Forbes Under 30 summit where he announced that Tinder will soon roll out a premium service, allowing users greater hook up capabilities - for a price.
However, he will not be leading the firm when the changes are introduced.
Rad, who founded the app over two years ago, will continue in a lead positon at Tinder. Media mogul Barry Diller's IAC owns many dating firms such as Match.com. It also has stakes in CollegeHumor, Ask.fm and Vimeo.
This comes after co-founder, and friend of Rad's, Justin Mateen, left the company following a suspension for sexual harassing an employee.
