Category: Bumble
Bumble Rolls out Online Shop and Product Line Featuring $200 Hoodie
THE DRUM – Bumble has launched its online shop, which features everything from branded playing cards and keychains emblazoned with pronouns to a $200 hoodie created by California-based apparel brand Aviator Nation. The move represents the app's first foray into retail and commerce.
Bumble Unveils New Profile Design and Revamps Matchmaking Algorithm
Bumble Has Surpassed $1B in Global Consumer Spend According to App Annie
PR NEWSWIRE – Bumble is the #2 dating app by lifetime spend and the highest ranking dating app that prioritizes women making the first move. The company went public in February 2021. The top markets contributing to its lifetime consumer spend include US, UK, Canada and Australia, but also India, Mexico which are high-growth markets on mobile overall and represent strong future potential for user acquisition growth. The full list of apps in the billion dollar club include: Tinder, YouTube, Netflix, Tencent Video, TikTok, iQIYI, Pandora Music, LINE, Disney+, HBO Max, BIGO LIVE, Google One, LINE Manga, piccoma and Youku.
Bumble Cofounder Whitney Wolfe Herd No Longer a Billionaire as Shares Plunge
FORBES – A steep drop in Bumble shares since the dating app owner's quarterly earnings call on Nov 10 has knocked the fortune of CEO Whitney Wolfe Herd – previously the world's youngest self-made woman billionaire – below $1B, Forbes calculates. The 32-year-old Wolfe Herd was worth ~$940M at Monday's closing price of $35.03 per share. Her net worth has fallen by ~$200M since Q3 earnings were released three weeks ago, as Bumble stock has tumbled by 26%. Wolfe Herd has a 21% stake in the company. Bumble is far from the only company to struggle after its IPO. An analysis published Sunday by the Financial Times found half of the companies that raised $1 billion at IPOs this year are trading below their listing prices.
Bumble & Match Pursuing Metaverse Ambitions
THE MOTLEY FOOL – Bumble plans to relaunch BFF as a metaverse platform. Plans are vague. (Bumble stock declined ~40% the past month, trading ~20% below its IPO price of $43/share. Bumble beat top line estimates but missed profit estimates and lost paid users). CEO, Whitney Wolfe Herd said BFF was already "built on blockchain tech," and that it was designed to encourage users to create their own communities. BFF is to enable members to "own their experience on Bumble" via the "communities they build, the virtual goods and experiences they acquire, or through new ways of owning their identity as they navigate the metaverse." In August, 10% of users were using BFF and Bumble had 12.3m MAUs in September. Match also mentioned metaverse on its latest conference call and has been testing out a new feature called "Singletown" across college campuses in Seoul, which enables its users to communicate with each other through digital avatars in a virtual piano bar. CEO Shar Dubey said it was seeing "encouraging early signals" for Gen Z engagement.
by Leo Sun
See full article at The Motley Fool
Mark Brooks: Want to learn more about Metaverse? The next LTR online conference is covering an intro to Metaverse, courtesy of David Siegel. See ltr13.splashthat.com.
Bumble Investors Should Be More Thankful
WALL STREET JOURNAL – Bumble may never have the broad appeal of Match Group but it is looking more lovable. Since going public in February, its share price has dropped 54% from where it opened on its first day of trading. Over just the last three months, it is down 36%, while Match’s share price has fallen less than 2%. But according to Q3, Bumble ARPU was ~$23, growing 18.5% YOY. Bumble's worldwide download grew 20% YOY. Bumble reported Q3 revenue for its namesake app grew 39% YOY, suggesting more people who are downloading the app are opting to pay for it.
Bumble Drops Below IPO Price
GURUFOCUS – Bumble stock dipped 19% following the release of Q3 earnings which disappointed investors because of lackluster paid subscriber additions. The company is likely to come under more pressure in the coming months. Badoo saw its revenue decline 3% to $58M in Q3, while its number of paid users dipped 9% YOY to 1.33M. The average revenue per paid user rose by 6%. Revenue from the Bumble app came to $142M for the quarter, up 39% YOY. The total number of paid users and the average revenue per user increased by 5% and 19%, respectively. Although these numbers look promising, it is worth noting that the company reported a decline in paid users from the second to third quarters, which suggests the strong momentum behind the company’s online dating products is waning.
Bumble Looking for Head of Crypto & Web3
BENZINGA – Bumble is swiping right on the metaverse. According to a job posting on LinkedIn, Bumble is looking to hire an executive for the role of "Head of Crypto and Web3" responsible for laying the foundation to support Bumble's crypto strategy with a focus on next gen community and creator economies. "What we really think is really interesting in the near term is the application of blockchain and crypto…to the experience that our communities have," said Bumble President Tariq Shaukat. Bumble is testing a number of things related to the space which they will be rolling out in the coming months.
by Samyuktha Sriram
See full article at Benzinga
Mark Brooks: Metaverse is fascinating. But what is it and how might it look for dating and social? I've invited David Siegel to speak on the subject at the next LTR, on Dec 1st.
Bumble Q3 Results: Revenue up 24%, Net Loss ~11M
BUMBLE – Bumble total revenue increased 24% to $201M, Bumble app revenue increased 39% to $142M. Badoo app and other revenue declined 3% to $58M. Total paying users increased to 2.9 M. Net loss was $10.7M, compared to net loss of $22.8M last year.