METRO.CO.UK – For many single people relying on apps to meet new romantic interests, there's a lot of wading through incompatibility. Research from dating app Badoo found that 78% of daters can relate to this experience. Respondents said they feel stress and burnout due to mismatched intentions, particularly when their dates aren't honest about what they want from a romantic connection from the off. On average, they found singles have six failed dates a year because of mismatched intentions, spending ~£285 a year on bad dates. Based on this feedback, Badoo have now launched intention setting on the app so that people can list one of the following on their profile: Here to date; Ready for a relationship; AND Open to chat.
Category: Badoo
Bumble Drops Below IPO Price
GURUFOCUS – Bumble stock dipped 19% following the release of Q3 earnings which disappointed investors because of lackluster paid subscriber additions. The company is likely to come under more pressure in the coming months. Badoo saw its revenue decline 3% to $58M in Q3, while its number of paid users dipped 9% YOY to 1.33M. The average revenue per paid user rose by 6%. Revenue from the Bumble app came to $142M for the quarter, up 39% YOY. The total number of paid users and the average revenue per user increased by 5% and 19%, respectively. Although these numbers look promising, it is worth noting that the company reported a decline in paid users from the second to third quarters, which suggests the strong momentum behind the company’s online dating products is waning.
Bumble Q3 Results: Revenue up 24%, Net Loss ~11M
BUMBLE – Bumble total revenue increased 24% to $201M, Bumble app revenue increased 39% to $142M. Badoo app and other revenue declined 3% to $58M. Total paying users increased to 2.9 M. Net loss was $10.7M, compared to net loss of $22.8M last year.
Badoo Launches a Rude Message Detector
DAILYMAIL.CO.UK – Rude Message Detector will automatically flag any insulting, discriminatory or overly sexual messages. The tool uses machine learning, a form of AI, to distinguish between 'banter' and actual verbal abuse, such as 'identity hate' towards transgender people. It's been rolled out for all Badoo users worldwide. With Rude Message Detector, Badoo shows the recipient a timely pop-up message asking if everything is okay and encourages them to report the sender if the message made them uncomfortable. The pop-up says: 'Looks like this person used some rude language, so we're just checking if you still want to hear from them.' It then gives users two options to click on – 'Yes, keep chatting' and 'No, block and report'.
How Advances in Technology and Science Could Impact the Dating and Matchmaking Industry
Blockchain Technology
Companies such as Hicky and Viola have both implemented blockchain to increase transparency by requiring users to validate their identity via face and voice recognition, which is then fully encrypted and stored into the blockchain.
Artificial Intelligence
AI can help gather in-app user behavior data for machine learning algorithms to curate more relevant matches based on its users' core values, beliefs and personality traits. Coffee Meets Bagel, Hinge, Tinder and Badoo all now use AI .
Augmented Reality
AR can be described as a visual or audio overlay of digital life on real life, distinct from the purely digital landscape of virtual reality (VR).
DNA Matchmaking
DNA Romance is a dating app that matches partners based on the information hidden in their DNA to forecast romantic chemistry. Dr. Tim Sexton built the app on the basis that partners with opposite immune system genes (MHC genes) have much higher romantic chemistry.
Bumble to Offer Trauma Support to Victims of Sexual Assault
IRISH NEWS – Aug 4 – Bumble is partnering with Bloom, an online service run by UK-based Chayn. When a survivor reports sexual assault or relationship abuse to Bumble's feedback team, they will be provided with a code to access up to six therapy sessions as well as one-to-one chat support. The service is due to begin later this year, with plans to expand to Badoo in 2022.
Bumble Continues to Deliver as the Lock-Up Expiration Nears
SEEKING ALPHA – July 2 – Bumble caters to ~40M monthly users and 2.8M paying users across the globe. Competing with Tinder, which still leads the way, Bumble is the 2nd highest-grossing app in the world when it comes to online dating. While the company reported strong Q1 earnings, Bumble stock fell sharply after reporting the numbers, pushing the stock price below the Initial public offering price of $43. After surging by over 70% on debut in February, Bumble stock hit a low of $38.91 on May 24 as analysts weighed on the company's first-quarter performance. Bumble reported revenue of $171M. Bumble's paid user count grew 44% YoY to 1.35M, while Badoo also saw 19% YoY paid user growth to 1.45M. In an important announcement, the company confirmed that it is planning to expand its horizons by emerging as a full-scale social media company, not just a company focused on providing online dating solutions. In terms of international expansion, Bumble has been seeing strong growth in Germany with Monthly Average Users growing at ~160 % YoY. Bumble's premium app is expected to be rolled out globally by the end of the year.
Badoo Has Banned Screenshots
INSIDER – July 1 – Badoo has introduced a Screenshot Block feature. Android users can no longer take screenshots of the app, and iOS users will get a warning message. The new policy is meant to discourage sharing private information and photos without permission.
by Andrea Michelson
See full article at Insider
Bumble’s Q1 Results: Revenue up, Paying Users up 30%
GLOBE NEWSWIRE – May 13 – Q1 revenue increased YOY to $170.7M (Bumble $112.6M, Badoo $58.1M). Total Paying Users increased 30% YOY to 2.8M, compared to 2.2M. Adjusted EBITDA was $46.1M, compared to $12.7M last year. The operating Q1 loss is $112.4M, compared to $53M in Q2 2020. Bumble anticipates revenue and adjusted EBITDA for the Q2 and year ending Dec 31, 2021 to be:
- Q2 revenue in the range of $175 to $178M, adjusted EBITDA in the range of $42 to $44M.
- Full year 2021 revenue in the range of $724 to $734M, adjusted EBITDA in the range of $177 to $182M.
The Bullish Case on Bumble
SEEKING ALPHA – Apr 23 – Bumble is set to release Q1 earnings on May 12, 2021. On tailwinds of vaccine rollouts and city re-openings, analysts have high projections for the women-centric dating app.Bumble currently trades at ~$57-27 below its 52-week high. Bumble currently employs 700 people around the globe with offices in Austin, Barcelona, London, and Moscow. The parent company of Bumble Inc. owns the Bumble app as well as Badoo. Bumble, now the second-most popular dating app in the U.S. after Tinder with 55M users in 150 countries, went public on February 11, 2021. BMBL was trading safely between $63 and $73 through much of March but has since fallen ~24% from its highs.