Money can’t buy you love, as former New Edition member Ralph Tresvant (somewhat) famously sang. But as the CFO of Match Group, Steve Bailey spends his days figuring out where love could use a little investment. The company owns Match.com, Tinder, Hinge, OkCupid and many other dating apps. Last year, it brought on a new CEO, Spencer Rascoff, cofounder of Zillow. The company is working on revitalizing Tinder for Gen Z and prioritizing outcomes (i.e., meaningful offline connections) for a world that’s burned out on dating apps. Bailey gave CFO Brew a look at his thought process as the CFO during this time of transition. This interview has been edited for clarity and length. You stepped into this role after the appointment of a new CEO. How did you approach that as a new CFO? It certainly made it more interesting and exciting to have a new CEO come in. What it did was require more of my time toward building a relationship with a new CEO. Because every CEO operates differently. They have different expectations for what they want out of a CFO and the CFO role. You were at Match Group for 13 years before taking the CFO role. Were there any specific blind spots you’ve had to keep an eye on, having worked at this company for so long? I was an FP&A person through and through. That’s what I did…I knew that inside and out. I could do it [with] one arm tied behind my back. You have to broaden out your skill set very quickly in the CFO job. So of course, I had some experience with accounting and tax and IR and treasury, but you gotta level up very fast. So that was one realization pretty quickly. Keep reading.—JK |