CNBC – Bumble launched in Dec 2014 with $10M in funding from Badoo co-founder Andrey Andreev. Most of that money seemingly didn't go toward marketing – instead, when Wolfe Herd noticed signs outside local college lecture halls banning social media platforms in class, she hung additional signs, adding Bumble to the list. Another tactic involved spending $20 on cookies decorated with the Bumble logo and distributing them to college sororities. She also gave away branded gifts like balloons and underwear to sorority girls and pizzas with Bumble stickers to fraternities.
Category: Bumble
Bumble Introduces Campus Safety Kits
AXIOS – Austin's Bumble partners with NightCap and She's Birdie to distribute drink-spiking prevention kits and safety alarms to students during Domestic Violence Awareness Month. These kits will be available at the University of Texas and 160+ other campuses in October. The safety tools include keychain alarms and drink covers designed like hair scrunchies. The initiative addresses the rising campus incidents of drink-spiking and violence.
MasterClass: Whitney Wolfe Herd on How to Rewrite the Rules of Success
PR NEWSWIRE – MasterClass, the streaming platform where anyone can learn from the world's best, today announced that Whitney Wolfe Herd, founder and CEO of Bumble, will teach a class on how to rewrite the rules and move ahead – in life and work. Wolfe Herd will give members an inside look into her journey of launching the women-first dating and social networking app Bumble, and share advice on how to follow your ambition with confidence, build a viral brand and redefine success.
Dating App Fruitz Is Launching in the UK
DAILY STAR – Dating app Fruitz, designed specifically for Gen Z (ages 18-25), has launched in the UK. The platform encourages users to utilize fruit emojis to signify their relationship intentions, promoting open conversations. Acquired by Bumble in 2022, Fruitz aligns with Bumble's mission of fostering healthy relationships. The app matches users based on their relationship status: one-night stand (peach), friends with benefits (watermelon), casual dating (grape), or looking for love (cherry). The app was initially launched in Paris in 2017 by Julian Kabab (CEO), Fabrice Bascoulergue (CTO) and Arnaud Ruols (CFO).
Bumble CEO Whitney Wolfe Herd Shares How AI Will ‘Supercharge’ Love and Relationships
TECH CRUNCH – Bumble CEO, Whitney Wolfe Herd, envisions a future where AI significantly enhances online dating experiences, focusing on improving user compatibility and safety. She foresees AI acting as a digital matchmaker, with users sharing their values, preferences, and lifestyle to determine compatibility, negating the need to interact with numerous potential matches. Herd emphasized that while Bumble's AI advancements will focus on refining safety measures and fostering meaningful connections, they won't delve into creating virtual partners. The AI will facilitate more precise matches, allowing users to converse with a select few who meet their specified criteria, streamlining the dating process.
Bumble Partners With AWARE to Make Safer Online Dating Ecosystem in Singapore
Bumble Can’t Dodge Biometric Class Action Over Badoo App Yet
BLOOMBERG – The US District Court for the Northern District of Illinois did not accept Bumble's plea to dismiss a class-action lawsuit over supposed violations of biometric privacy related to a verification feature in its dating app, Badoo. The court stated that further jurisdictional discovery is needed to clarify whether Bumble and its two subsidiaries, Buzz Holdings L.P. and Bumble Trading LLC, are subject to the court's jurisdiction due to uncertainties in Bumble's involvement with its subsidiaries. Kemelle Howell, a Badoo user since 2016, initiated the lawsuit in 2021, alleging that the companies violated the Illinois Biometric Information Privacy Act through its verification tool.
JPMorgan Analyst Recommends Investing in Match Group, Citing Tinder’s Growth
BLOOMBERG – JPMorgan analyst Cory Carpenter advises investors to invest in Match Group, anticipating that its Tinder app will see double-digit growth in the upcoming quarter. Carpenter upgraded his price target for Match from $55 to $60, despite negative investor sentiment, and dubbed it his "top pick" over competitor Bumble. He argues that concerns about market saturation in online dating are exaggerated and predicts a 10% compound annual growth rate for the industry through 2026. While Bumble's shares have declined, Match has gained ~3% in 2023.
by Joel Leon
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Bumble’s Stock Structure Upheld by Delaware Judge (Correct)
BLOOMBERG LAW – A judge in Delaware has ruled that Bumble's special stock structure is legal, dismissing a lawsuit from an investor who claimed it was unfair. The company's rules give 10 votes per share to its founder, Whitney Wolfe Herd, and its early supporter, Blackstone Inc., while all other shareholders get just one vote per share. The judge said this setup is allowed under Delaware law, which is where Bumble is registered. This means the company can continue to operate with its current voting structure.
Podcast: Dating Apps Pivot to Premium Pricing
MARKETPLACE – Major dating apps like Tinder and Bumble are introducing premium subscription services, with Tinder's costing up to $500 per month. These apps are also offering lower-cost options to attract more subscribers. Mark Brooks, a dating app consultant, explained, "When you pay, you're going to do less work and find more dates." He also mentioned that the early days of dating apps were all free, driven by venture capital and a land grab mentality. This shift in pricing strategies reflects a broader trend in the internet service economy. Dating apps are now focusing on optimizing existing user bases instead of just adding new users.