Tinder cofounder Sean Rad has been pushed out from his position as CEO. Rad, who will stay on Tinder’s board and continue to help with the product once a new CEO is hired, founded the company in 2011. The company’s very successful app connects people who are looking for dates. Tinder is owned by Barry Diller’s IAC, and is reportedly worth north of $1 billion. IAC declined to comment for this story. The news was first reported by Forbes.
Update: Sean Rad released the following statement Tuesday afternoon:
“We’re recruiting a new CEO to lead Tinder through this time of explosive growth and expansion, adding world-class talent to the management team and allowing me to focus on Tinder’s product and brand. Alongside the rest of the Tinder board, I look forward to working with the new CEO to realize Tinder’s massive potential.”
This article originally appeared on Recode.net.