FORBES – July 7 – Andrey Andreev's biggest asset is Badoo, a European- and Latin American-focused dating app that, with 60M users, stands as one of the world's largest. His buzziest, however, is Bumble, the dating app focused on empowering women. Andrey launched his first dating company – Mamba – in 2004. It was a bare-bones desktop dating site for Russian users. Finam Holdings invested $20M in Mamba for a 90% stake; Andreev sold the rest to Finam in 2006 for an undisclosed amount. Building off the success of Mamba, Andreev launched Badoo in 2006. In 2010, Badoo launched its iPhone mobile app. The company went from 20M user sign-ups to 100M in four months, mostly in Europe and Latin America, and notched $200M in revenue. (Forbes estimates that last year Badoo had a bit over $300M in revenue.) Simultaneous with this growth, Badoo began earning a reputation for wild parties. More concerning, several former employees say office behavior was hostile and discriminatory toward women. Andreev maintains that he is a collaborator and unifier, not racist or sexist as others allege. Wolfe Herd, who spent Bumble's formative period walking around London with Andreev for days, says she has never witnessed toxic behavior in the Badoo headquarters. And she stands firmly behind Andreev. "What I've seen firsthand from Andrey is creative and motivating behavior. Andrey has never been anything but kind and respectful to me."
by Angel Au-Yeung
See full article at Forbes
See all posts on Badoo
See all posts on Bumble
See all posts on Mamba