Bumble – Page 13 – Online Personals Watch

Young Women Falling out of Love With Dating Apps

Posted on May 27, 2024

FINANCIAL TIMES – Dating apps like Tinder and Bumble are enhancing features and rebranding to attract more Gen Z women, addressing concerns of burnout and safety. Female users report burnout, unsolicited content, and threats, prompting improved content moderation and verification. Market shares of Match Group and Bumble have significantly dropped. New features include Bumble's "opening moves" and Tinder's AI photo selection. Bumble faced backlash for ads mocking celibacy. Both apps see a decline in active users, highlighting the challenge of engaging young women, a crucial demographic for their success.

See full article at Financial Times

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Why Nobody Likes Dating Now

Posted on May 23, 2024

AMERICAN SURVEY CENTER – Bumble's Whitney Wolfe Herd explained "There is a world where your dating concierge could go and date for you with other dating concierge[s] . . . and then you don't have to talk to 600 people," she said. It sounds utterly dystopian. AI chatbots chatting up other bots to forge connections for their human counterparts. Singles are pessimistic about dating life. Dating apps are accused of being part of the problem. There's a rising distrust between men and women: less patience and more risk aversion. Young women today expect young men to contribute in ways their fathers never did. Marriage is less of an immediate goal for many young people, and parenthood is more of an open question. A recent Pew poll found that young men are more interested in becoming parents than young women. A growing share of single young singles are deciding that romantic relationships or marriage might simply not be worth it.

by Daniel A. Cox
See full article at American Survey Center

Mark Brooks: The only way AI concierges would really work is if they were given inordinate access to users' other apps, comms, and behavioral data, to properly assess their character. Then, it could get quite interesting. Bumble, as a trusted brand, could be one of the few dating companies that could be granted enough access to be able to make this kind of feature fly. I don't buy that people really don't want romantic relationships. Homo sapiens need intimacy, love. I think we/they/he/she… are just less well-equipped and more distracted.

Bumble Buys Community Building App Geneva to Expand Further Into Friendships

Posted on May 20, 2024

TECH CRUNCH – Bumble has acquired Geneva, an online platform built around forming real-world groups and clubs. Terms of the deal were not disclosed, but the announcement comes shortly after Bumble revealed that it would be pursuing acquisitions to drive growth. While Bumble is best known for its dating app, the company recently indicated that friendships could be a bigger focus for the company moving forward. Founded out of New York in 2019, Geneva is all about meeting like-minded people in a given area, whether that's to form running clubs or meetups to talk about the latest books. The company had raised ~$36M.

by Paul Sawers
See full article at Tech Crunch

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Tinder and Bumble to Explore New Avenues Amidst Revenue Challenges

Posted on May 16, 2024

BLOOMBERG – Tinder and Bumble are diversifying their services beyond dating due to slowing sales growth and declining user engagement. Bumble anticipates a growth slowdown to 9% this year, down from 31% in 2021, and is repositioning itself as a broader human connection platform. Meanwhile, Match Group reported lower-than-expected revenue projections and a drop in paying users. Financially, this has led to a significant reduction in the market valuations of these companies, with Match Group's valuation falling from a peak of $50B to $8B, and Bumble's valuation also substantially decreasing. In contrast, Grindr has shown resilience and growth potential in its niche market despite facing legal challenges.

by Alex Webb
See full article at Bloomberg

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Bumble Apologises for ‘Anti-celibacy’ Ads After Furious Backlash

Posted on May 15, 2024

MASHABLE – Bumble has apologised for its poorly received ads referencing celibacy, calling them a "mistake." The marketing campaign is being slammed across social media, with users accusing the dating app of undermining women's choices and shaming them for refraining from sex. In a statement posted to Bumble's official Facebook, Instagram, and TikTok accounts, the company acknowledged its misstep and announced that it would be removing its heavily criticised anti-celibacy ads from its global marketing campaign.

by Amanda Yeo
See full article at Mashable

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Whitney Wolfe Herd Says Bumble Could Embrace AI

Posted on May 13, 2024

CNBC – Bumble founder Whitney Wolfe Herd suggests the app may soon integrate AI, envisioning features like an AI dating concierge to assist users and potentially date on their behalf, aiming to create a healthier and more efficient dating experience amidst widespread online dating fatigue. In the United States, 1 in 3 men ages 18 to 34 use ChatGPT for relationship advice, according to a recent survey on AI platform Pollfish. Just 14% of women in the same age range reported doing the same.

by Aditi Shrikant
See full article at CNBC

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Bumble Says It’s Looking to M&A to Drive Growth

Posted on May 13, 2024

TECH CRUNCH – Bumble said during its Q1 earnings call that it plans to use M&A "opportunistically" to help it better prioritize inorganic growth. Unlike its Match Group, Bumble hasn't been very active in pursuing growth via M&A. Its first acquisition was the French dating app, Fruitz, in Feb 2022, followed by an app for couples, Official, in 2023 for $10M. Now, Bumble says it will look to acquire other businesses that align with its growth goals. CEO Lidiane Jones said Bumble would consider a smaller app if it's doing something particularly innovative that Bumble could utilize in its apps or invest in.

by Sarah Perez
See full article at Tech Crunch

Mark Brooks: This is definitely a good time to acquire companies in the dating space. It's a buyer's market right now. Match Group seems less acquisitive since the cost of capital has gone up. #3 player ParshipMeet Group used to be very acquisitive, but have been quiet recently. Social Discovery Group hasn't made a move on anything in a while. So it's a good time for Bumble to level up by bringing in innovative disruptive technologies. Consider the buying-interest signal sent.

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Bumble Q1 2024 Results: Revenue up 10%, Net Earnings ~$34M

Posted on May 9, 2024

BUSINESSWIRE – Bumble Q1 total revenue is up 10% YOY to $268M. Bumble app revenue increased 11% to $216M and the app's paying users increased 18% to 2.7M. Badoo app and other revenue increased 6.9% YOY to $52M. Total paying users across all apps increased to 4M, compared to 3.5M in Q1 2023. Net earnings were $33.9M, or 12.6% of revenue, compared to net loss of $2.3M in Q1 2023.

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Bumble’s Rebrand: ‘We’ve Changed So You Don’t Have to’

Posted on May 6, 2024

MEDIAWEEK – Bumble has rebranded its dating app to better serve women, introducing the "Opening Moves" feature, allowing women to set questions for matches to answer. According to Bumble's research, 75% of women value an app's look and feel, and 65% say design impacts usability. Lucille McCart, Bumble's APAC communications director, spearheaded the rebrand to address community feedback and provide women with greater control over their dating experiences. The campaign, reflecting the rebrand named "We've changed so you don't have to," emphasizes Bumble's commitment to empowering women.