CNBC – Feb 10 – There are now more than 20 female founders to take companies public, but the venture capital and IPO market have a long way to go, as funding to women-led start-ups hit a three-year low in 2020. When Bumble founder and CEO Whitney Wolfe Herd launched the dating app in 2014, she wanted to solve a real-world 21st century relationship problem: how to find love for the millions of women just waiting around for men. Seven-years later, the company that prides itself on its female-first approach, has garnered a devoted following. As of the Q3 of 2020, it boasted 42M active users. Between Jan 29 and Sept 30, Bumble reported revenue of $376.6M and a net loss of $84M, slim gains in comparison to Match Group. Bumble's focus on women could limit its growth potential, according to a Wall Street Journal article from Sep that argued Bumble has "a way to go" in order to compete with Tinder in the international market.
by Samantha Subin
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