FORBES - Nov 14 - Bumble began monetizing via in-app purchases only in Aug 2016 and will cross $100M in sales this year, a figure that - aided by the introduction of tailored, hyperlocal advertising - is projected to double in 2018. Herd turned down a $450M buyout offer from the Match Group earlier this year, according to sources with knowledge of the conversations. And these sources maintain that Match approached the company again this fall to discuss a valuation well over $1B. Match declined to comment. ~10% of Bumble's users pay $9.99 for a monthly subscription. At Tinder, just ~5% of users pay for a similar service. Bumble took an initial ~10M investment from Badoo's founder Andrey Andreev for launch marketing in exchange for 79% of the company. Bumble has 70 employees, ~85% of whom are women. Bumble has recently launched BFF, an offshoot that focuses on platonic connections between women, and Bizz, which offers a challenge to LinkedIn. Bumble BFF has been tried by ~3M users, but just 500K are active in a typical month. Bumble Bizz is too new to evaluate.
by Clare O'Connor
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Summarized by the Courtland Brooks team
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