Category: Bumble

Dating-App Investors Should Play the Field

Posted on July 14, 2021

Bumble nasdaqWALL STREET JOURNAL – July 13 – Match Group may always shine bright in online dating, but right now Bumble has some appeal. Match Group is up 62% over the past year, while Bumble has shed 25% since its February IPO. Bumble is now trading at just 9.4 times enterprise value to forward sales, with Match at a significant premium at 14.6 times. There is a reason Match has outperformed. It not only owns Tinder, but seven of the top 10 dating apps by consumer spending in the U.S. as of the Q1, according to Sensor Tower. Despite its mission to empower women to make the first move, a recent survey from Evercore ISI found a higher percentage of women say they are using Tinder than Bumble. It also found that of males and females using both apps, a significantly higher percentage of both groups reported being more satisfied with Tinder. Between the two, Bumble's underperformance this year leaves more room for upside. Both Evercore ISI's survey and a May survey from Morgan Stanley found 87% of respondents plan to maintain or increase their usage of dating apps over the next several months. 53% of those who don't pay currently said they would consider paying for online-dating apps in the future.

by Laura Forman
See full article at Wall Street Journal

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Bumble Partners With Actor-to-be Shanaya Kapoor & Maheep Kapoor to Share Dating Tips

Posted on July 12, 2021

Bumble logo 2020EXCHANGE4MEDIA – July 12 – In the fun video released on Instagram, the mother-daughter duo will be seen bonding over making the first move and sharing tips on how to Bumble better.

See full article at Exchange4Media

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More Younger People Are Looking for Friends on Match, Bumble and Tinder

Posted on July 8, 2021

Bumble bff iconWALL STREET JOURNAL – July 8 – Dating apps are getting friendlier. More younger people see no problem swiping left or right to find friend matches rather than dates or hookups. Millennials and Generation Z have been comfortable using dating apps to meet platonic friends for a few years now, especially when moving to a new city. During the pandemic, the practice boomed. In a recent survey of 300 members of Generation Z aged 16 to 24 in the U.S., 35% said they have used dating apps to make platonic friends over the past 12 months, according to OnePulse, a consumer insight app and web portal. 27% said they used dating apps to make friends because they were lonely in lockdown. More women than men – 39% vs. 29% – said they used dating apps to make platonic friends.

by Ray A. Smith
See full article at Wall Street Journal

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Bumble Continues to Deliver as the Lock-Up Expiration Nears

Posted on July 2, 2021

Bumble logo 2020SEEKING ALPHA – July 2 – Bumble caters to ~40M monthly users and 2.8M paying users across the globe. Competing with Tinder, which still leads the way, Bumble is the 2nd highest-grossing app in the world when it comes to online dating. While the company reported strong Q1 earnings, Bumble stock fell sharply after reporting the numbers, pushing the stock price below the Initial public offering price of $43. After surging by over 70% on debut in February, Bumble stock hit a low of $38.91 on May 24 as analysts weighed on the company's first-quarter performance. Bumble reported revenue of $171M. Bumble's paid user count grew 44% YoY to 1.35M, while Badoo also saw 19% YoY paid user growth to 1.45M. In an important announcement, the company confirmed that it is planning to expand its horizons by emerging as a full-scale social media company, not just a company focused on providing online dating solutions. In terms of international expansion, Bumble has been seeing strong growth in Germany with Monthly Average Users growing at ~160 % YoY. Bumble's premium app is expected to be rolled out globally by the end of the year.

by Dilantha De Silva
See full article at Seeking Alpha

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Bumble Will Open Its First Café in New York in July

Posted on June 30, 2021

Bumble brew picBLOOMBERG – June 30 – On July 24, Bumble will open its inaugural Bumble Brew in New York. The café and wine bar for daters, networkers, and friends was first announced two years ago as slated to open in fall 2019 in Manhattan's SoHo. Permitting issues and then the pandemic delayed the launch.

by Kate Krader
See full article at Bloomberg

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Singles Return to In-Person Dating

Posted on June 23, 2021

Dinner date 2021WALL STREET JOURNAL – June 23 – People emerging from romantic hibernation are discovering their flirting skills are out of practice. Bumble says that 90% of its users report they are ready to date in real life again. From April to May, conversations on OkCupid increased 17.5%, while matches rose ~15%, the company says. On Tinder, "swipe activity" rose 15% this February YOY. Bumble says 41% of those ready to date in person again still prefer it to be socially distanced.

by Anne Marie Chakker
See full article at Wall Street Journal

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Bumble Closes Its Offices to Give ‘Burnt-out’ Staff a Week’s Break

Posted on June 22, 2021

Bumble icon 2020BBC – June 24 – Bumble has temporarily closed all of its offices this week to combat workplace stress. Its 700 staff worldwide have been told to switch off and focus on themselves.

by Dearbail Jordan
See full article at BBC

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Dating Apps Say Sex Isn’t Everything in a Post-pandemic World

Posted on June 22, 2021

Hyperconnect logoREUTERS – June 22 – "There's a really interesting trend that has been taking place in the connection space, which is this desire to have platonic relationships," said Bumble founder and CEO Whitney Wolfe Herd. Her company is investing in its Bumble BFF (best friends forever) feature, which it said comprised ~9% of Bumble's total monthly active users in Sep 2020. Meanwhile Match Group paid $1.7B this year for South Korean social media firm Hyperconnect, whose apps let people chat from across the world using real-time translation. Hyperconnect's revenue jumped 50% last year. Gay dating app Hornet, meanwhile, aims to be more of a social network focused on users' personal interests, rather than solely a hook-up service.

by Aniruddha Ghosh, Subrat Patnaik & Sarah Morland
See full article at Reuters

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Bumble Survey Reveals Summer Dating Habits

Posted on June 17, 2021

Bumble logo 2020FAST COMPANY – June 17 – People are looking to date IRL again, but their priorities have changed, according to the latest survey data from Bumble, 30% said they would not date or have sex with an unvaccinated person. 65% now think it's possible to fall in love without meeting someone in person, 38% prefer to go on virtual first dates with people before meeting them in person.

by Christopher Zara
See full article at Fast Company

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Bumble Introduces Night in Virtual Dating Feature

Posted on June 16, 2021

Bumble night inINDIAN EXPRESS – June 14 – Bumble recently introduced its new 'Night In' feature targeted at virtual dating. The feature will allow two Bumble matches to experience interactive games over a one-on-one video chat. Bumble had launched an audio notes feature last year and the app is now also adding a new video notes feature. The addition allows people to send quick videos to each other directly in chat to help "break the ice and build deeper conversations".

See full article at Indian Express

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