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Bumble

#5120

Rank

$1.25B

Marketcap

US United States

Country

Bumble
Leadership team

Mr. Tariq M. Shaukat (Pres)

Ms. Whitney Wolfe Herd (Founder, CEO & Director)

Ms. Anuradha B. Subramanian (Chief Financial Officer)

Products/ Services
Dating, Internet, Mobile Apps, Social Network
Number of Employees
500 - 1000
Headquarters
Austin, Texas, United States
Established
2014
Company Registration
SEC CIK number: 0001830043
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
BMBL
Social Media
Overview
Location
Summary
Bumble Inc. provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates two apps, Bumble and Badoo with approximately 40 million users on monthly basis, as well as Fruitz, an online dating app. Bumble Inc. was founded in 2014 in and is headquartered in Austin, Texas.
History

Whitney Wolfe Herd, an early VP of Marketing of Tinder, founded Bumble shortly after leaving Tinder. Wolfe Herd sued Tinder for sexual discrimination and harassment and settled for just over $1 million in September 2014. Amidst the media attention surrounding the lawsuit, acquaintance and Badoo founder and CEO Andrey Andreev contacted Wolfe Herd via email, and the two met up. Andreev suggested she get back into the dating space, and the pair eventually formed a partnership in which Andreev would receive 79% ownership in the company following an initial investment of $10 million along with additional investments and Wolfe Herd would serve as founder, CEO and 20% owner. As part of the agreement, the new company would also utilize Badoo's infrastructure and Andreev's consulting. After the partnership was established, the pair recruited fellow Tinder departees Chris Gulczynski and Sarah Mick to design the interface and help launch Bumble. Bumble was launched three months later in December 2014.The company headquarters are in Austin, Texas and as of 2021 had 650 employees globally. In March 2016, Bumble released BFF mode as a way for users to find platonic friends. After switching into the mode, the app replaces potential dates with people of the user's same sex who are also looking for friends. In June 2016, Bumble announced a partnership with Spotify that would allow users to connect a Spotify account to their profile to show their music interests. In March 2017, the company announced its plan to launch a career networking app, Bumble Bizz. In August 2017, Bumble partnered with the Anti-Defamation League in an effort to remove users who display hate symbols in their profiles. In October 2017, the company launched Bumble Bizz which also uses a woman-first interface.The company was valued at more than $1 billion in November 2017. When private equity firm The Blackstone Group purchased a majority stake in Bumble's parent company MagicLab, Bumble and its sister apps were valued at $3 billion. Bumble and its sister apps earned $162 million in net revenue for 2018.

In April 2019, Bumble launched its own lifestyle magazine called Bumble Mag.

In 2020, MagicLab was renamed Bumble as the parent company of both Bumble and Badoo. As of 2020, Bumble has over 100 million users worldwide.In February 2021, Bumble raised $2.2 billion through its IPO and the company had a valuation of over $7 billion. Bumble was listed on the Nasdaq exchange, with shares initially valued at $43 but increasing to $76 on its opening day, valuing the company at more than $13 billion.In February 2022, Bumble announced it had acquired Fruitz - a French-owned freemium dating app popular with Gen Z and used across Europe. This was the company's first acquisition. Starting from April 2022, Bumble users who report abuse are eligible for a collection of free courses from Bloom, an online provider of support for assault survivors.

Mission
Bumble is a platform and community that creates empowering connections in love, life, and work. We promote accountability, equality, and kindness in an effort to end misogyny and re-write archaic gender roles. On Bumble, women always make the first move.
Vision
Bumble envisions a world free of misogyny,
where all relationships are equal.
Key Team

Mr. Yoav Flam (Chief Technology Officer)

Cherryl Valenzuela (VP of Investor Relations)

Ms. Elizabeth Monteleone (Director of Legal Affairs)

Ms. Laura Franco (Sec. and Chief Legal & Compliance Officer)

Mr. Robbie McKay (Chief Communications Officer)

Ms. Stephanie Lilak (Chief People Officer)

Mr. Philip J. Auerbach (Chief Commercial Officer)

Recognition and Awards
Bumble won 3 awards in 2019 and 3 awards in 2018. In 2019, Bumble won for Best Company Compensation, Best CEOs for Women 2019 and Best Company Outlook 2019. In 2018, Bumble won for Best Company Culture 2018, Best CEO 2018 and Best Company for Women 2018. Based on 1,080 ratings and 100 participants, employees at Bumble are very satisfied with their work experience. The overall culture score, 85/100 or A+, incorporates employee ratings based on their feedback on the Work Culture, Professional Development, Retention and more.
References
Bumble
Leadership team

Mr. Tariq M. Shaukat (Pres)

Ms. Whitney Wolfe Herd (Founder, CEO & Director)

Ms. Anuradha B. Subramanian (Chief Financial Officer)

Products/ Services
Dating, Internet, Mobile Apps, Social Network
Number of Employees
500 - 1000
Headquarters
Austin, Texas, United States
Established
2014
Company Registration
SEC CIK number: 0001830043
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
BMBL
Social Media