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Bumble dating app is going public; female founder close to becoming a billionaire

Bumble's online dating business generated over $376.6 million in revenue between Jan 29 and Sept 30 last year


Bumble dating app is going public; female founder close to becoming a billionaire | BEAMSTART News

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Update 22 Feb: Bumble is now public and founder Whitney Wolfe Herd is the world's youngest female billionaire.

Bumble, the company behind the popular female-centered dating app is filing to go public.

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The company has just filed the IPO paperwork on Friday, and will list on Nasdaq under the stock ticker "BMBL".

If Bumble succeeds in going public, its founder could become a billionaire (her net worth is now ~$575 million with the company being valued approximately $3 billion).

Bumble was founded in 2014 by Whitney Wolfe Herd, who previously worked at Tinder, the world's most popular dating/matchmaking app.

The difference between Tinder and Bumble is that Bumble is more female-focused, where women are required to make the first move when reaching out to potential candidates.

Founder of Bumble, Whitney Wolfe Herd.

Bumble's growth surged in recent months due to the emergence of the global pandemic, becoming a lifeline for single-people to meet potential matches.

In the IPO filing, the company reported generating $376.6 million in revenue between Jan 29 and Sep 30 last year with a loss of $84.1 million.

The paperwork also added that the app had over 42.1 million monthly active users as of the end of September.

"Our long-term vision is to be the platform to meet new people, no matter what you might be looking for, whichever life stage or situation you're in. We will do this with our innovative technology -- and by advocating for equality, both through legislation and with the power of our trusted brand," Wolfe Herd wrote in the letter to investors.

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ABOUT THE AUTHOR

Carl Adrian

Partnerships & Content Coordinator at BEAMSTART

Based in Singapore

Works at BEAMSTART

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