Category: Bumble

Tinder and Bumble to Explore New Avenues Amidst Revenue Challenges

Posted on May 16, 2024

Match Group Bumble logosBLOOMBERG – 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

Bumble anti-celibacy adMASHABLE – 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

Bumble Whitney Wolfe Herd 2023CNBC – 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

BumbleTECH 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

BumbleBUSINESSWIRE – 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.

See full article at Bumble website

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

Posted on May 6, 2024

Bumble Lucille McCart
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.

by Amy Shapiro
See full article at MediaWeek

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Lidiane Jones on Overcoming Gender Barriers in Tech as Bumble’s CEO

Posted on May 2, 2024

Bumble Lidiane JonesBBC – Lidiane Jones, the CEO of Bumble, stands out in the tech industry not only due to her unique background—being the daughter of a mechanic and a cleaner from São Paulo—but also because she is a woman in a male-dominated field. With over 20 years of experience in software engineering and product management, including leadership roles at Sonos and Slack, Jones has faced numerous challenges related to the lack of female representation in tech. She emphasizes the importance of resilience and leveraging a network of female leaders, including Bumble founder Whitney Wolfe Herd, for support and inspiration. Jones encourages women to believe in themselves and not to waste energy on self-doubt. Bumble faces significant challenges, with its share value declining sharply since its IPO and intense competition. Jones remains focused on overcoming these hurdles to improve Bumble's standing in the industry.

by Shiona McCallum
See full article at BBC

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Bumble Introduces ‘Opening Move’ Feature to Simplify Starting Conversations

Posted on May 1, 2024

Bumble Opening moveTECH CRUNCH – Bumble has launched a new feature called "Opening Move" to simplify the messaging process for women by allowing them to pre-write opening lines. This part of a larger app update also introduces options to preset questions, specify dating intentions, and enhance profile content. Bumble experimented with the Opening Move feature in various markets, including New Zealand and Australia, siad new CEO Lidiane Jones. According to Bumble, during the testing phase, the feature led to higher reply rates and longer conversations.

by Lauren Forristal
See full article at Tech Crunch

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Australian Bumble Experts Debut ‘Give Me a Buzz’ Podcast Exploring Modern Dating Dynamics

Posted on April 24, 2024

Bumble Give me a BuzzMUMBRELLA – Lucille McCart, dating expert at Bumble, and Bumble sexologist, Chantelle Otten, are launching a podcast called 'Give Me A Buzz'. Each week, along with a special guest, Lucille and Chantelle will unpack subjects such as ethical non-monogamy, body positivity, dating with a disability, the intersection between astrology and compatibility, sexting etiquette and digital consent, modern masculinity, dating safety and more. Give Me A Buzz is produced by MIK, the audio experts behind some of Australia's most successful podcasts including Big Small Talk, Two Broke Chicks, Sometimes Funny and Always Awkward. Dylan Adams, head of Audio at MIK says, "Podcasts are emerging as one of the key ways Millennial and Gen Zs consume media, news and pop culture, with Aussies the world leaders in podcast listening according to recent data."

See full article at Mumbrella

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