Category: Bumble

Dating Apps Test Just How Much Users Will Pay for Love

Posted on January 9, 2024

Tinder selectFINANCIAL TIMES – In an increasingly crowded market and battling a slowdown in growth, apps like Tinder are looking at more expensive tiers of service and added perks in order to increase revenue, putting to the test just how much people will pay to find a partner. In Sep, Tinder introduced a controversial $499 a month Select subscription, available to just 1% of the app's users. It promised "unrivalled access to the absolute best of Tinder" for its most "sought-after profiles". Hinge introduced subscription tiers Hinge Plus and Hinge X, with varying prices and features like enhanced profile exposure and unlimited likes. Hinge reported a significant boost in its annual revenue per payer and a 44% increase in total revenue to $107M in Q3. Bumble is also under pressure after CEO Whitney Wolfe Herd announced in Nov she was leaving. Its shares are currently down 80% over the past five years.

by Euan Healy
See full article at Financial Times

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Bumble Supports 2023 National Conference on Domestic Violence

Posted on December 27, 2023

Bumble Supports 2023 National Conference on Domestic ViolenceLINKEDIN – Bumble Inc. attended and supported the 2023 National Conference on Domestic Violence, reinforcing its partnership with The National Domestic Violence Hotline. The company has been committed since 2020 to empowering individuals and fostering healthy relationships. Contributions include funding the 24/7 hotline, co-creating volunteer programs, and participating in advocacy. Bumble's Director of Social Impact and Sustainability, Heather Venard, represented the company, highlighting their dedication to supporting survivors, building trust, and promoting understanding to combat relationship abuse.

See full article at LinkedIn

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The Era of Free Dating Apps May Be Over

Posted on December 11, 2023

Hinge StandoutsCNBC – The trend of free dating apps is declining as companies like Bumble, The League, Hinge, Match, and Tinder aim to increase revenue, prompting users to opt for paid versions. A Pew Research Center report reveals 35% of American dating app users have paid for these services. The League's VIP membership costs $999 a week or $2,499 a month. In Sep, Tinder rolled out a $499 monthly subscription to some of its most active users, and Hinge recently introduced a $600-a-month membership. Coffee Meets Bagel says its paid users get 60% more dates than its nonsubscribers. Pew Research has found that people who met their partner on an app are more likely to have paid for the service.

by Annie Nova & Ana Teresa Solá
See full article at CNBC

Bumble Survey: Gen Z in Singapore More Conscious of Gender Inequity Than Millennials

Posted on December 7, 2023

BumbleTODAY ONLINE – The survey commissioned by Bumble shows Gen Z in Singapore is more attuned to gender inequity than millennials. About 29% of Gen Zers believe in equal home contribution between genders, compared to 44% of millennials. The findings indicate that gender roles and inequities, particularly in domestic chores and workplace, are still prevalent issues. The survey involved 1K participants and highlights the need for greater gender balance in both personal and professional domains.

by Nikki Yeo
See full article at Today Online

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Bumble Holdings Repurchases Partnership Interests and Class A Common Stock From Blackstone

Posted on December 5, 2023

BumbleBEST STOCKS – On Dec 4, 2023, Bumble Holdings repurchased 3,192,146 limited partnership interests and 4,012,101 shares of Class A common stock from Blackstone for a total of $100M. This transaction, part of a larger agreement, aims to stabilize Bumble's stock prices and is set to close on Dec 7, 2023, under lock-up restrictions until Bumble's Q4 earnings announcement. On the same day, Bumble's stock showed a lackluster performance in the market, despite the company reporting revenue growth and a recovery in net loss for the Q3 2023.

by Elaine Mendonça
See full article at Best Stocks

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Bumble Supports Legal Challenge to Clarify Texas Abortion Law

Posted on December 1, 2023

Bumble logo white for social mediaSCRIPPS NEWS – Bumble, a women-focused dating app based in Austin, Texas, supports a lawsuit challenging Texas' strict abortion law. The lawsuit, led by the Center for Reproductive Rights on behalf of 22 plaintiffs, aims to clarify medical exemptions under the Texas abortion ban. Bumble joined an amicus brief alongside other Texas businesses, highlighting the law's negative impact on business costs, talent retention, and workforce diversity. The case, heard by the Texas Supreme Court, seeks clarity rather than overturning the ban.

by Taylor O'Bier
See full article at Sripps News

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Bumble For Friends Wins Google Play Best of 2023 User’s Choice Award for Fun

Posted on November 30, 2023

Bumble For FriendsLINKEDIN – Bumble For Friends has been recognized with the prestigious Google Play Best of 2023 User's Choice award for the Best for Fun category, a significant achievement celebrated in the US, Canada, Australia, and Great Britain. This award highlights the exceptional efforts and creativity of the Bumble For Friends team.

See full article at LinkedIn

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Match and Bumble Suspend Ads on Instagram Amid Concerns Over Algorithm Serving Inappropriate Content

Posted on November 29, 2023

InstagramWALL STREET JOURNAL – The Wall Street Journal's testing revealed Instagram's algorithm served inappropriate content, including sexualized videos of children and adults, to users following young influencers. Ads from major brands, including dating apps Bumble and Match Group, appeared alongside this content. Bumble and Match responded by suspending their ads across Meta's platforms, with Match cancelling its Meta advertising due to dissatisfaction with Meta's response to the issue. The tests raised concerns about child safety and the misuse of algorithms, prompting Meta to state it was investigating and would pay for brand-safety audits. The situation highlighted the need for stricter content regulation on social media platforms.

by Jeff Horwitz & Katherine Blunt
See full article at Wall Street Journal

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AI Apps Assist Singles in Dating Through Text Analysis and Response Suggestions

Posted on November 23, 2023

YourmoveaiKVUE – AI is being increasingly used in dating apps to help users improve their communication skills. Apps like Keys AI and Your Move AI analyze text conversations and suggest responses to enhance user interaction. A Bumble survey found that 46% of U.S. users feel more confident with AI assistance in messaging. Keys AI, gaining half a million users since early 2022, offers response suggestions based on conversation analysis. Your Move AI, similarly, helps users manage repetitive interactions on dating apps. However, this technology also raises concerns about authenticity and the impact on genuine human connection.

by Daranesha Herron
See full article at KVUE

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Bumble for Friends Introduced AI-Powered Icebreakers

Posted on November 21, 2023

Bumble For Friends AIBUMBLE – Bumble For Friends has added a new feature that uses AI to generate personalized icebreakers for users. When starting a chat with a new match, users can tap a button to receive up to three AI-crafted conversation starters based on their public profile information. Users can choose and edit these prompts before sending.

See full article at Bumble Buzz

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