TNN – Jan 14 – Virtual dating is the new norm in India, according to Bumble's recent nationwide survey. After connecting with people virtually, 83% of single Indians are comfortable to meet up in-person. The study also reveals that 40% of single Indians will opt for virtual dating in 2021.
Category: Bumble
Bumble Files to Go Public
TECH CRUNCH – Jan 15 – Bumble plans to list its share on the Nasdaq stock exchange, using the ticker symbol "BMBL." Bumble's planned IPO was first reported in December. You can read its IPO filing here. Bumble claims 42M monthly active users as of Q3 2020 with 2.4M paying users. The company reports revenue of $417M in the first 9 months of 2020 and net income of (-$117M). If you extrapolate Bumble's Q1, Q2, and Q3 revenue to a full-year number, the company could manage $555.5M in 2020 revenues. However, its sharp unprofitability in 2020 could damper its eventual valuation.
by Alex Wilhelm
See full article at Tech Crunch
This post also appears on InternetDatingInvestments.com
Bumble Temporarily Removes Politics Filter
INDEPENDENT.CO.UK – Jan 14 – Bumble has temporarily removed its politics filter "to prevent misuse" in response to tweets encouraging users to change their political view to conservative in an attempt to match with and identify Capitol rioters. Bumble has previously said that it had begun taking action against profiles promoting involvement in the riots.
How Tinder Became the App That Defines Online Dating
FINANCIAL TIMES – Jan 8 – In the Q2 of 2020, Tinder reported a record 3B swipes in a single day. Shares in parent company Match, whose subsidiaries also include Hinge and OkCupid, traded at a record high in mid-December as it joined the Nasdaq 100. Rival Bumble has taken the opportunity to reportedly file for an IPO. When Match listed in 2015 it priced its shares at $12 each. They now change hands for $153. Success is down to Tinder's relatively simple set-up. Tinder, which accounts for more than half of Match's 11M subscribers, has a subscription level that allows users to see who likes them. This lure has helped Tinder convert free users to subscribers without spending large sums on marketing. Five years ago, Zoosk revealed that it was spending 84% of revenues on marketing before it pulled plans for an IPO. Tinder spent the equivalent of 20% of revenue on marketing in the most recent quarter.
by Elaine Moore
See full article at Financial Times
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Q&A With Priti Joshi From Bumble About Dating Trends In 2021
ELLE – Jan 6 – In 2020, online dating habits have undergone some massive changes. Priti Joshi, the VP of Strategy at Bumble India, talks about the new dating trends she's observed.
Q: What are some of the changes in dating trends you've seen this year?
A: At Bumble, we saw increased usage and extended video chat times, and an increased need for social connections. More than ever, people are feeling a strong desire to build trust online before meeting in real life. Our study revealed that 1 in 2 people on Bumble in India are likely to be New Dawn Daters – people who are newly single after a break-up during the pandemic.
Q: What are the things one must keep in mind when interacting online?
A: The more information that someone shares on their profile, the more likely they are to find a match. A completed bio will see a 41% increase in the number of monthly average matches than those who don't have a complete bio.
Q: Tell us about your professional journey. What are some of the challenges you have faced?
A: There are many times that I feel like an imposter. It is something that I push myself to overcome daily. One of the things I feel fortunate in is having a support system in my colleagues who help me navigate when I feel like an imposter.
Q: What have been some of your personal learnings that you will carry forward in 2021?
A: These unprecedented times have shown us all the power of human connection – we've all learned that one can successfully find love online even during these challenging times.
Bumble Installs ‘Socially-Distanced’ Benches in Bangalore and Goa
Bumble India Campaign
AFAQS – Dec 25 – Bumble's campaign of five ad films encourages Indian women to make the first move.
Bumble Won’t Let Users Share Bikini and Bra Photos if Taken Indoors
ENGADGET – Dec 28 – Outside is perfectly acceptable, however. BuzzFeed News reports that Bumble took down photos of artist Cali Rockowitz wearing a bralette due to a policy banning swimsuit and underwear photos when indoors. Apparently, a bikini top or shirtless look is fine as long as the shots were "taken outside."
Bumble Files Trademark Opposition Against Stylized Beehive Design
LAW STREET MEDIA – Dec 22 – Bumble has filed a trademark opposition before the Trademark Trial and Appeal Board against Bithive's application for the subject design. Bumble claimed that it would be harmed by the registration of this application because of the similarities between the marks and the likelihood of consumer confusion. Bithive is an online platform where individuals can create virtual communities based on interest.
Bumble to File Confidentially for February IPO
BLOOMBERG – Dec 21 – A listing could come around Valentine's Day. No final decision has been made and the timing could change. Bumble, backed by the Blackstone Group, could seek a valuation of $6B to $8B in an IPO. The firm is working with advisers including Goldman Sachs Group, Citigroup and Morgan Stanley.