On Bumble, only women can make the first move, preventing a deluge of unwanted messages.Ĭo-founder Wolfe Herd’s presence in the online dating industry is almost mythical. At the time of this writing, Bumble users are 72.9% male and 27.1% female. Online dating platforms, including Bumble, host many more male members than female. image credit: Statistaįounded in 2015 by Andrey Andreev and Whitney Wolfe Herd, Bumble seeks to empower women. 2021 saw an overall decline in the number of dating app users, with slow growth in the following years. With people sheltering at home during the pandemic, dating and social media app usage surged. Bumble’s paid user count exploded during the pandemic but is leveling out.Ģ020 was the year of the dating app. Sales of newly issued Bumble shares resulted in further losses for the stock’s overall value.Īlthough revenue grew for the company, as the pandemic is essentially over, demand for online dating and many other technology services has declined. Online dating provider Bumble experienced a fourth-quarter 2022 loss of $159 million, causing the stock to decline. UPDATE: Bumble’s Stock Tumbles After Disappointing Q4 2022 Results and CEO/Blackstone Selloff Issues of racial bias, privacy, user retention, mediocre app quality, low customer satisfaction, shady business practices, innumerable competitors, and its post-pandemic business outlook make Bumble a risky investment.On the second day of trading, Bumble managed a much more modest increase, closing at $75.46.Bumble stock closed 63.5% ($70.31) over its IPO price on the first day of trading.Over 35% of Bumble users are inactive, with only 18.4% using the app frequently.Co-founder Andrey Andreev, who originally owned 79% of the popular online dating platform, developed Bumble’s concept of women making the first move.Founded by Andrey Andreev and Whitney Wolfe Herd in late 2014, Bumble seeks to empower women in online dating.
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