LINKEDIN – 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.
Category: Bumble
Match and Bumble Suspend Ads on Instagram Amid Concerns Over Algorithm Serving Inappropriate Content
WALL 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
AI Apps Assist Singles in Dating Through Text Analysis and Response Suggestions
KVUE – 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.
Bumble for Friends Introduced AI-Powered Icebreakers
Whitney Wolfe Herd: Championing Female Empowerment in the Tech and Dating Industries
by Imran Rahman-Jones & Shiona McCallum
See full article at BBC
Bumble Ad Highlights Dating Experiences of Black Women
THE DRUM – Bumble's new ad campaign, 'My Love is Black Love', focuses on the dating experiences of Black British women, addressing the stereotypes and preconceptions they often face. Featuring prominent figures like Amber Gill, Whitney Adebayo Nella Rose, Shantania Beckford, and Tolly T, the campaign aims to amplify Black women's voices and challenge misconceptions. Naomi Walkland, Bumble's VP of Marketing, emphasizes the importance of representation in overcoming stereotypes in dating, from expectations to fetishization.
Bumble Announces Q3 2023 Results, Revenue up 18%
PRESS RELEASE – Bumble reported an 18% revenue increase to $276M for the Q3 of 2023. Bumble App's revenue rose by 23% to $222M, with its paying users up by 25% to 2.6M. The company experienced a net earning of $23.1M and an Adjusted EBITDA of $75.3M. Reflecting confidence in its long-term growth, Bumble also boosted its share repurchase program to $300M. Badoo App and Other Revenue increased 3.3% to $53.7M, compared to $52M. Total paying users increased to 3.8M, compared to 3.3M.
Dating Apps Need to Rekindle Romance With Wall Street
WALL STREET JOURNAL – Bumble's share price slid ~5% on Monday morning after the company said that founder Whitney Wolfe Herd is stepping down from the CEO role. She will remain as executive chair, while Lidiane Jones will take over as CEO on Jan 2. She currently heads up Slack Technologies, where she became CEO almost a year ago under the ownership of Salesforce. Shweta Khajuria of Evercore ISI wrote: "We view Whitney's departure as a near to midterm headwind for business operations and a negative for overall company morale." Investors weren't exactly hot for Bumble anyway, or Tinder owner Match for that matter. Bumble's share price was already down 35% for the year ahead of Monday's news, while Match was down 31%. The latter's stock slid more than 15% after it reported third-quarter results last week that showed a continued decline in the number of "payers" on the Tinder app.
How Bumble’s New CEO Lidiane Jones Plans to Use AI
Bumble CEO Whitney Wolfe Herd Steps Down
WALL STREET JOURNAL – Whitney will become exec. chair and will be replaced by Lidiane Jones, the Slack CEO, on Jan 2. Bumble reports Q3 earnings Tuesday. Bumble Inc. comprises Bumble, Bumble for Friends, Badoo, Fruitz (for Gen Z) and Official, a newly acquired app that helps couples relationships. Jones, 44, worked for Microsoft for a decade, then Salesforce, which acquired Slack in 2021. Jones will be based in Cambridge, MA. (Bumble's HQ is in Austin, Texas). "We really want to embark big on AI," she said. "AI can play such a big role in accelerating people finding the right person, finding the right friends and the right community." Blackstone is the largest institutional shareholder in Bumble Inc. Whitney is the largest individual shareholder.
by Sara Ashley O'Brien
See full article at Wall Street Journal
Mark Brooks: Jones brings the culture of Slack and Microsoft to the dating space. Seems like a good potential match for the #2 player in the dating industry.