And it offers services for meeting friends (Bumble BFF) and networking (Bumble Bizz).
Bumbleīumble owns another dating service: Badoo, a Russia-based dating app with over 28 million monthly active users, mainly focused on markets in Europe and Latin America. It’s also proven wildly successful: Bumble has built a loyal following of more than 12 million active users since 2014.
Bumble’s seemingly obvious yet simple innovation has helped differentiate it from other apps, like Tinder. Throughout its marketing materials, Bumble emphasizes how much it wants to make meeting other people on the internet friendly, comfortable and non-threatening. “We are rewriting the script on gender norms by building a platform that is designed to be safe and empowering for women, and, in turn, provides a better environment for everyone.” “The Bumble brand was built with women at the center,” stated Bumble CEO Whitney Wolfe Herd in the company’s IPO filing with the Securities and Exchange Commission (SEC). Unlike other apps, however, when a woman and a man match on Bumble, only the woman is empowered to make the first move and start a conversation (either person in a same-sex match may initiate conversation). Like all other dating apps, Bumble lets you create a profile, upload pictures of yourself and signal what you’re looking for in a partner. Bumble’s innovation has been to give women complete control over the opening move in the dating process. To stand out from the crowd, however, a dating app has to offer a clever new take on this simple task. That’s why there are at least 1,500 options available. The basic idea behind a dating app couldn’t be simpler: match single people. Yet it’s precisely the virtual reality of dating apps-that ability to meet and interact with strangers without leaving your couch-that may have strengthened demand for them over the last year.Ĭombine that with longer-term trends, like millennials and Gen Z delaying marriage and being more isolated than earlier generations, and you start to see how dating apps like Bumble may actually be perfect for socially distanced users eager for connection. Not only are people wary of meeting with strangers outside of their bubble, but also the places where dating happens, like bars and restaurants, are closed or restricted throughout the country. ( ABNB) IPO, you’d think the depths of a pandemic would be exactly the wrong time for a company like Bumble to go public. ( MTCH), the everpresent $45 billion dating conglomerate that runs the eponymous as well as Tinder and Hinge. Bumble still has a long way to go before it can match up with Match Group Inc. ( BMBL) jumped 63% in value on the company’s first day of trading on Thursday, valuing it at almost $8 billion. Investors love this buzzy new initial public offering.
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