Category: Bumble
India’s Second Wave Sees 25% Surge in Dating App Users
DESIBLITZ – May 20 – Able Joseph, founder and CEO of the dating app Aisle, said: "In the last month, we've seen 28% user growth and 25% increase in daily active users." Joseph added that since the pandemic began, Aisle has seen more users above the age of 30 upgrading to premium accounts sooner than before. As well as Aisle, Bumble has also seen a rise in users. Bumble's nationwide survey revealed that 38% of single Indians hope to be in a committed relationship in 2021.
Bumble Donates for India’s Covid-19 Relief
LIVEMINT – May 16 – Bumble is donating to UNICEF to support urgent relief efforts in India, provide medical supplies, and help spread crucial information on safety protocols. Our thoughts are with you all," Bumble founder, Whitney Wolfe Herd tweeted.
Seniors Are Using Dating Apps and Tinder Leads the Pack
FORBES – May 14 – According to a new survey conducted by Choice Mutual, an independent insurance agency, seniors are increasingly turning to dating apps. The study found roughly a third of seniors who have dated within the last five years have turned to dating apps for help and according to Choice Mutual many have found success. 66% of those using dating apps had a relationship with someone they met through the platform. 35% used Tinder, followed by Match.com (28%), Hinge (25%), Plenty of Fish (25%) and Bumble (24%).
Video: Bumble CEO on Q1 Earnings
YAHOO FINANCE – May 14 – Whitney Wolfe Herd, Bumble Founder & CEO, joined Yahoo Finance Live to discuss the company's latest earnings report and her outlook. "We are absolutely operating for the long term. We have a great business. The fundamentals are there. They have been there. And I'm completely comfortable being underestimated. It's been a big part of my career so far. And it's a motivator, but we are all super focused on the future", she said.
by Seana Smith & Melody Hahm
See full article at Yahoo Finance
Bumble Shares Fall Sharply After Q1 Results, Dipping Below IPO Price
CNBC – May 14 – Bumble's stock dipped ~17% to hit an all-time low of $38.91 apiece. The company reported first-quarter results on Wednesday and issued what some analysts considered cautious guidance. "We are being cautiously conservative due to the nature of the pandemic … none of us can predict what happens later this year around the globe," CEO Whitney Wolfe Herd said. "The company isn't signaling we don't believe in the strength of our business," she added.
Bumble’s Q1 Results: Revenue up, Paying Users up 30%
GLOBE NEWSWIRE – May 13 – Q1 revenue increased YOY to $170.7M (Bumble $112.6M, Badoo $58.1M). Total Paying Users increased 30% YOY to 2.8M, compared to 2.2M. Adjusted EBITDA was $46.1M, compared to $12.7M last year. The operating Q1 loss is $112.4M, compared to $53M in Q2 2020. Bumble anticipates revenue and adjusted EBITDA for the Q2 and year ending Dec 31, 2021 to be:
- Q2 revenue in the range of $175 to $178M, adjusted EBITDA in the range of $42 to $44M.
- Full year 2021 revenue in the range of $724 to $734M, adjusted EBITDA in the range of $177 to $182M.
Bumble’s CEO Says Pandemic Transformed Online Dating
WALL STREET JOURNAL – May 12 – Dating has been transformed during the Covid-19 pandemic as people world-wide embraced online connections more than ever, according to Whitney Wolfe Herd, CEO of Bumble. Instead of connecting, chatting and then meeting in person, many Bumble users in the past year decided to meet over video first before seeing each other in person, introducing a new step to online dating dynamics. Ms. Wolfe Herd said Bumble planned to introduce more features for users that enable them to fine-tune their preferences. She said while the pandemic had shifted many processes in business and consumer habits, the need for relationships is a constant. "We all need connection," she said. "This is something that is never going away."
Bumble’s Head of Product Design to Join Twitter
WALL STREET JOURNAL – May 11 – Lara Mendonça, the woman who led the design of Bumble's dating app in the run-up to the company's February IPO, is joining Twitter, bringing a philosophy of designing for inclusion and safety to a platform that is taking steps to curb abuse and harassment. Lara Mendonça is set to join Twitter on June 14 as a senior manager of product design in the company's "creation and conversations" team. Bumble declined to comment on Ms. Mendonça's departure and on her successor.
by Katie Deighton
See full article at Wall Street Journal
This post also appears on VerySocialNetwork
Bumble’s Latest Update Has Got Some Bugs
PUINIKAWEB – May 11 – Bumble users have been facing an issue after the latest app update where their messages/chats are disappearing. The users are unable to view more than 15 messages/chats. The issue has been acknowledged by Bumble and a fix is being looked into.