Tinder CEO out after only five months

Tinder CEO Christopher Payne is leaving the company after only five months, the firm announced Wednesday.

Sean Rad, founder of the popular dating app who has been serving as president, will replace Payne as CEO, according to CNNMoney.

Payne was named CEO in March.

"It's only been a few months, but there was mutual agreement here that it was not the right long-term fit, and given Tinder's rapid growth trajectory, both Christopher and the board thought prompt action was best for everyone," said Matt Cohler of Benchmark Capital, a Tinder director.

Read more from CNNMoney.