BLOOMBERG – Whitney Wolfe Herd, the CEO of Bumble, envisions using artificial intelligence (AI) to enhance dating and relationships. She believes that AI can help singles become better at courtship by boosting their confidence and providing guidance on flirting. With loneliness becoming a prevalent issue and dating app fatigue on the rise, Wolfe Herd sees technology as a solution to improve the quality of matches and connect people not only romantically but also platonically.
Category: Bumble
Bumble Changes Its Policy to Crack Down on Bots, Ghosting, and Doxing
TECH CRUNCH – Bumble is implementing updated community guidelines to combat issues like bots, spam, ghosting, and doxing on its dating apps, including Badoo. The new rules include a ban on artificial actions to influence engagement, the prohibition of adult content, and counting "no-shows" as "bullying and abusive conduct." Bumble is also addressing doxing and victim-blaming as rule-breaking offenses. The company has previously used AI to detect fake and spam accounts, and it's committed to improving platform safety. However, it hasn't detailed changes to reporting options or handling off-platform violations.
Dating Apps Put a Hefty Price Tag on Finding Love
Match which will roll out a superpremium tier on Tinder in the fall. "If you actually take a small fraction of our payers at higher price points, you actually get a number that's in the tens of millions of dollars on an annual basis," CEO Bernard Kim said.
Bumble CEO Whitney Wolfe Herd sees premium services delivering new opportunities. "We see that there's a lot of runway to expand there."
Even if uptake is slow, there is precedent behind the move to raise prices. Mark Brooks, CEO of Courtland Brooks, which helps online dating companies grow, said that other brands, such as eHarmony and Tawkify, have for years priced their premium services above what Tinder, Hinge and Bumble charged. The stakes are high in showing users that paying is worth it, Brooks said. Otherwise, they could defect to competing platforms. "They've got to actually really deliver on it, because they'll get crucified if they don't," said Brooks.
Men Are Still Suing Bumble for ‘Discrimination’
THE DEEP DIVE – Bumble is being sued (again) for discrimination. The case, brought by Zimmerman Reed, alleges that Bumble's policy of requiring only women to make the first move on the app discriminates against men, transgender men, or nonbinary people. The law firm claims that the app is in violation of California's Civil Rights Act, which prohibits businesses from arbitrarily treating people differently based on their sex, gender, or sexual orientation. This isn't the first time that Bumble has been accused of discrimination. In 2022, the company settled a California-based discrimination lawsuit for $3M, without admitting any wrongdoing.
by JP Alegre
See full article at The Deep Dive
Bumble Adds New Features for Better Dating Experience
Business Dynamics in the Digital Dating Landscape
FINANCIAL TIMES – The digital dating industry, spearheaded by platforms like Tinder, is significant with Match having a market cap of around $13bn. However, platforms face a unique challenge: successful match-making could reduce their user base. Tinder's paying users are declining, while Bumble is expanding, though more users don't necessarily mean more profit. Generational preferences pose another issue; Gen Z is reluctant to use apps popular with older generations. Bumble's strategy involves diversifying its services, from friendship (BFF) to post-dating interactions (Official). These efforts aim to enhance user retention and monetization, which are critical for sustained growth.
by Louis Ashworth
See full article at Financial Times
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Bumble Q2 2023 Results
BUSINESSWIRE – Total revenue increased 18.5% to $259.7M, compared to $219.2M. This includes an unfavorable impact of $1.6M from foreign currency movements YOY. Bumble App Revenue grew 23.4% YOY to $208M, compared to $168.5M in Q2 '22. Badoo App and other revenue increased 2% to $51.8M, compared to $50.7M. Total paying users increased to 3.6M, compared to 3M. Net earnings were $9.3M or 3.6% of revenue, compared to net loss of $5M, or (2.3)% of revenue.
Bumble Buzzes Into the $2 Billion Club
CAMPAIGN ASIA – Bumble has crossed the $2B mark in global user spending, making it the second dating app after Tinder to reach this milestone. The achievement comes nine years after its launch in 2014. Most of Bumble's revenue is driven by subscriptions, and it's currently the second most downloaded dating app worldwide, trailing behind Tinder and Hinge, but ahead of Happn and Badoo. The app has over 50 million users in 150 countries as of January 2023.
AI Entering the Dating Pool Is a Bleak Prospect
FINANCIAL TIMES – The advent of AI in online dating is attracting interest and concern. Startups like Rizz and YourMove AI are using AI to create appealing profiles and opening lines, while Teaser AI allows chatbots to mimic users' chat styles. Bumble and Match Group are monitoring these developments, seeing potential in AI for improving matches and countering ghosting. However, increased AI usage raises concerns about authenticity and a surge in fake accounts. Public response to AI in personal communications, as seen on Snapchat and Meta's apps, has so far been negative. The real test for AI in dating may come when conversations move offline.
by Elaine Moore
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Bumble BFF Is Officially a Separate App
