Category: Bumble

Online Dating Stocks: Wall Street Bullish Despite Slump

Posted on July 4, 2023

Dating appsBUSINESS INSIDER – Wall Street analysts predict a resurgence in online dating apps despite their poor stock performance since 2021. Match Group and Bumble have seen a significant decline in their stock value (Match Group has shed 75% of its value since hitting a record share price of $169.53, Bumble has tumbled 77% from its IPO of $75.46), but analysts remain optimistic due to strong growth prospects and the sustained popularity of online dating. Bank of America analyst Nat Schindler cited that these stocks are undervalued relative to their cash flow and foresees significant potential for growth. He also believes that online dating, being a primary means for new couples to meet, won't face a recession even if the economy does, as it meets a basic human need for connection. Sam Yagan, the co-founder of OkCupid and former CEO of Match, said that the years following the 2008 recession were actually OkCupid's best years. However, investors remain cautious, particularly due to concerns about the broader economic climate and the impact of the Federal Reserve raising interest rates. Meanwhile, dating apps are making strategic changes, such as short-term subscriptions and brand revamps, to attract users and prepare for economic challenges. Analysts suggest that investors are taking a "wait and see" approach.

by Jennifer Sor
See full article at Business Insider

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Making Friends on Apps Doesn’t Need to Be Weird

Posted on July 4, 2023

Bumble bff logoWASHINGTON POST – Lonely American adults, especially the younger generation, are increasingly turning to apps to make friends, overcoming the stigma associated with seeking platonic relationships online. Platforms such as Discord, Reddit, Bumble, and Meetup have become hubs for individuals seeking companionship. While online dating has been normalized, actively seeking friends online is still considered somewhat taboo. Some participants noted that making friends as an adult requires effort, vulnerability, and a willingness to face social fears.

by Tatum Hunter
See full article at Washington Post

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Bumble BFF Will Be a Standalone App

Posted on June 20, 2023

Bumble bff logoMASHABLE – BFF and Bizz have historically been available on the same app as Bumble Date, but according to a source, that's going to change. Bumble has been testing a standalone version of the BFF app in the UK and select Asian markets. The standalone app is expected to launch in the U.S. this summer. BFF represents 15% of the app's monthly active users.

by Anna Iovine
See full article at Mashable

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Bumble’s Campaign for Safer, Women-led Online Dating

Posted on June 16, 2023

Bumble ad1THE DRUM – A national campaign called 'The New Rules of the Game' highlighted all the ways Bumble helps create a space where dating is safe and fun. The campaign won in the Advertising and the Consumer Packaged Goods categories at The Drum Awards for Marketing Americas 2023. The campaign encourages women to take control of their dating experience and make their own rules. It uses sports metaphors to demonstrate how Bumble's safety tools can assist women in navigating the online dating world, effectively playing the game by their own rules.

by Audrey Kemp
See full article at The Drum

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Americans to Spend $2.5B on Dating Apps in 2023

Posted on June 13, 2023

Dating appsAPN NEWS – In 2023, Americans are expected to spend ~$2.5B on dating apps, more than the combined spending of Chinese, Japanese, and Britons, according to Statista. The global online dating market is projected to generate $7.8B in revenue with about 570M users this year, 30% of which is expected to originate from the United States. The Statista data show around 16% of all dating app users in the US prefer Tinder, the number-one app in the market. Bumble ranked second with a 14% share. Hinge and MeetMe follow, with a 10% share each.

See full article APN News

Bumble Inc: the Rising Star of the Online Dating Industry

Posted on June 12, 2023

Bumble for social mediaBEST STOCKS – Bumble has gained attention from investors and analysts as it emerges as a rising star in the industry. With its moderate buy rating from a consensus among brokerages and a solid user base of ~40M users across its apps, Bumble and Badoo, the company is strategically incorporating subscription and in-app purchases to increase its revenue streams. Despite recent earnings per share of ($0.01) and a negative net margin attributed to expansion costs, Bumble's revenue has seen a YOY increase. Analysts have positive expectations for the company, projecting earnings per share of approximately $0.23 by the end of the year. With its innovative products and market strategy, Bumble has the potential for significant growth in the online dating industry, making it an attractive prospect for investors.

by Elaine Mendonça
See full article at Best Stocks

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28% of Consumers Look for Love on Dating Apps in Early 2023

Posted on June 8, 2023

Dating-apps-connected-economyPYMNTS – Spring and summer are prime dating seasons, and like other human behaviors, the pandemic has increased consumer reliance on digital tools to find that special someone. According to the PYMNTS study "ConnectedEconomy™ Monthly Report: The Love and Social Media Edition", 28% of US consumers, or ~73M people used dating apps in March. That's a 21% increase from the same month last year. 12% of men use dating apps and sites daily, versus 7.5% of women. Generation Z consumers and millennials also account for a disproportionate number of the consumers who use dating apps and sites. In total, 55% of Gen Z and 50% of millennials use some type of dating app or site. Dating apps were downloaded more than 60M times last year in the U.S., with Tinder, Bumble and Hinge representing 60% of those downloads in any given month, on average. Plenty of Fish, MeetMe, Tagged, Grindr, Badoo and Wink make up the tail end of the online dating market.

See full article at PYMTS

Bumble Launches Tipline to Enhance Safety and Combat Bad Behavior

Posted on June 6, 2023

Bumble logoBODY+SOUL – Bumble has partnered with Kodex to launch a tipline, allowing victims to report harmful individuals on the dating app. The initiative aims to provide a secure and easy way for victims to report bad behavior, with reported individuals potentially receiving warnings or having their profiles permanently removed. The partnership is being piloted in Australia with a focus on supporting victims of violence. Bumble's efforts align with its commitment to safety and promoting gender equality.

by Ashleigh Austen
See full article at Body+Soul

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Bumble’s President Tariq Shaukat Resigns After Three Years of Service

Posted on June 1, 2023

Bumble Tariq ShaukatTECH TIMES – Bumble President Tariq Shaukat is stepping down from his position after three years, and the dating platform is now searching for his replacement. Shaukat played a significant role in Bumble's successful IPO and global expansion. While the reason for his departure remains unclear, Bumble continues to focus on expanding margins and investing in future growth. CEO Whitney Wolfe Herd expressed confidence in the company's roadmap and is committed to maintaining business momentum throughout the year.

by Inno Flores
See full article at Tech Times

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Bumble’s Successful Growth Strategy

Posted on May 24, 2023

Bumble Anu SubramanianFORTUNE – Anu Subramanian, the CFO of Bumble, emphasizes that all employees must use the Bumble app to fully understand its operations, as it's the company's main product. Subramanian, who joined Bumble in 2020, has a career background at the intersection of media and technology. Bumble's Q1 2023 report shows a revenue growth of 25.9% to $194.3M and an increase in paying users by 31% to 2.3M. The company's focus is on optimizing the user journey to convert users to paying customers and adding new features like "compliments" to drive engagement. Subramanian believes that women making the first move is one of the app's unique features and notes that, despite economic challenges, people continue to invest in finding relationships.

by Sheryl Estrada
See full article at Fortune

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