STATISTA – Bumble and Tinder are the most popular dating apps in the U.S., according to Statista Consumer Insights. 35% of U.S. dating app users said they had used Bumble in the past 12 months, compared to 37% for Tinder. In the following ranks were Badoo, Plenty of Fish and Hinge.
BUSINESSWIRE – Bumble today reported financial results for the Q4 and full year 2024.
Q4 Highlights:
Full Year 2024 Financial Highlights:
TOP CLASS ACTIONS – Bumble and Badoo have agreed to a $40M settlement over claims they violated the Illinois Biometric Information Privacy Act (BIPA) by unlawfully collecting users' biometric data, such as facial scans. The settlement benefits Illinois residents who used the apps between Nov 1, 2016, and Dec 31, 2021. Class members will receive a share of the settlement, and Bumble and Badoo will delete the collected biometric data and comply with BIPA in the future. The deadline for exclusion and objection is Sept. 20, 2024.
PRESS RELEASE – Q4 revenue increased 13.2% YOY to $273.6M. Bumble App revenue increased 15.7% to $220.7M. Badoo App and Other Revenue increased 4.2% to $52.9M. Total Paying Users increased 16.4% to 4M. Net loss was $32M. Full year 2023 revenue increased 16.4% to $1,052M, compared to $903.5M. Net loss was $1.9M.
BLOOMBERG – The US District Court for the Northern District of Illinois did not accept Bumble's plea to dismiss a class-action lawsuit over supposed violations of biometric privacy related to a verification feature in its dating app, Badoo. The court stated that further jurisdictional discovery is needed to clarify whether Bumble and its two subsidiaries, Buzz Holdings L.P. and Bumble Trading LLC, are subject to the court's jurisdiction due to uncertainties in Bumble's involvement with its subsidiaries. Kemelle Howell, a Badoo user since 2016, initiated the lawsuit in 2021, alleging that the companies violated the Illinois Biometric Information Privacy Act through its verification tool.
BUSINESSWIRE – Total revenue increased 18.5% to $259.7M, compared to $219.2M. This includes an unfavorable impact of $1.6M from foreign currency movements YOY. Bumble App Revenue grew 23.4% YOY to $208M, compared to $168.5M in Q2 '22. Badoo App and other revenue increased 2% to $51.8M, compared to $50.7M. Total paying users increased to 3.6M, compared to 3M. Net earnings were $9.3M or 3.6% of revenue, compared to net loss of $5M, or (2.3)% of revenue.
BUSINESSWIRE – Bumble's Q1 revenue increased 16% to $243M. This includes an unfavorable impact of $7.2M from foreign currency movements year over year. Bumble app revenue grew 26% to $194.3M. Badoo app and other revenue declined 12.6% to $48.7M. Total Paying Users increased to 3.5M YOY, compared to 3M in Q1 '22. Net loss was $2.3M, compared to net earnings of $23.7M last year's Q1. Adjusted EBITDA was $59.3M.
BUSINESSWIRE – Bumble, the parent company of Bumble, Badoo, and Fruitz, has announced that some of its shareholders will sell 12.5M shares of the company's Class A common stock to the public. The selling shareholders are affiliated with Blackstone, a private equity firm, and Whitney Wolfe Herd, the founder of Bumble. Bumble itself will not be selling any shares in this offering and will not receive any of the money from the sale. Bumble shares declined more than 7% today following this announcement.
