LOCALSYR.COM - Jan 26 - Bumble has been revamping their approach and Head of Editorial Content Clare O'Connor says they have have seen a change in the way people are dating amid a pandemic. It's known as 'slow-mo dating'. Clare says people are taking longer on the app and staying safe too.
432 posts categorized "Bumble"
Bumble's Bet on Women Won't Pay off Everywhere
WALL STREET JOURNAL - Jan 21 - A higher percentage of the Bumble app's users convert to payers than the market average among dating apps, according to OC&C Strategy Consultants - ~9% paid conversion among its 12.3M monthly active users, the company said. But a women-centric approach also could pose some limitations to growth. Historical gender norms might be more difficult to disrupt outside the U.S. In India, Bumble didn't break the top 10 in terms of consumer spending. Interestingly, Tinder tested a feature in India around the time of Bumble's launch there called "My Move," which allowed women to initiate conversation. Depending on its success, Tinder said it would consider launching the app more globally. Ominously for Bumble, Tinder hasn't indicated plans to roll out the feature anywhere else.
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Dating Apps and Videoconferencing Could Be Monitored in New EU Data Rules
EURACTIV - Jan 21 - Dating apps and videoconferencing tools could come under the scope of new EU efforts to monitor online communications in a bid to stamp out child sexual abuse material. In a series of private exchanges between MEPs and Commission services, the EU executive has attempted to clarify a number of concerns related to proposed rules that would allow online communications services to be vetted for child abuse content. In one exchange, the Commission is pressed on whether it considers 'dating apps,' such as Tinder, Bumble and OkCupid, part of the new rules. The response was that while assessments should be made on a case-by-case basis, "the communications features of dating apps may constitute NI-ICS, unless they are merely ancillary features."
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First Look At Bumble's IPO
SEEKING ALPHA - Jan 20 - Bumble is reportedly seeking a $6-8B valuation. In 2019, Blackstone purchased a majority stake in the company that valued the company at $3B, representing quite a sizable return in a short amount of time. Across its two apps, Bumble and Badoo, the company has 42M monthly active users. Badoo is the fourth-largest (by gross revenue) dating app in the world.
In terms of sizing: Badoo actually has more MAUs than Bumble, with 28.4M as of the end of Sep 2020. This is more than double Bumble's 12.3M MAUs. However, Bumble users are more likely to be premium users; hence, the Bumble brand actually generates ~60% of the combined company's revenue versus ~40% for Badoo. This is why Bumble, despite the smaller user base, is the #2 grossing dating app in the world, behind Tinder. The global online dating market stood at $5.3B in 2020 and is expected to grow 13% YOY to $9.9B by the end of 2025. Despite the rapid and broad adoption of online dating in recent years, only 15% of users are paid subscribers. Given the normalization of paying for multiple services, especially driven by COVID-19, we expect this number to continue trending upward. Bumble's total paid users grew 19% YOY to 2.44M, with the Bumble app indexing at a faster 30% YOY growth rate versus 11% YOY growth for Badoo.
by Gary Alexander
See full article at Seeking Alpha
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Capitol Riots: Bumble Unblocks Politics Filter
BBC.COM - Jan 19 - Bumble has reinstated its political preferences filter after disabling it "to prevent misuse" in the wake of the US Capitol riots. Following the violence, reports emerged online of some Bumble users switching the filter to find those who had taken part - and report them to authorities. Match Group has banned any users wanted by the FBI in connection with domestic terrorism from all of its platforms.
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Dating Apps Are Using Images From the Siege to Ban Rioters' Accounts
WASHINGTON POST - Jan 18 - Bumble, Tinder and others are freezing out rioters with help from law enforcement and, in some cases, their own photos. Other app users have taken matters into their own hands by striking up conversations with potential rioters and relaying their information to the FBI. Some onlookers have celebrated the viral hunt as a creative form of digital comeuppance. But some privacy advocates said the episode reveals a worrying truth about pervasive public surveillance and the opaque connections between private companies and law enforcement. Both Bumble and Match Group said they were working to remove users known to be involved in the Capitol siege from their platforms.
by Drew Harwell, Lisa Bonos & Craig Timberg
See full article at Washington Post
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Bumble CEO Whitney Wolfe Herd's Letter
BUSINESS INSIDER - Jan 18 - Whitney Wolfe Herd, who cofounded rival dating app Tinder, launched Bumble in 2014. In a letter accompanying Bumble's S-1 paperwork, Herd celebrated Bumble's women-first approach as well as "1.7B first moves made by women." You can read the full letter here.
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Bumble IPO Filing Details $125M Cash Payout and Loan to Founder
FINANCIAL TIMES - Jan 18 - Bumble founder Whitney Wolfe Herd received a $125M payout following a complex reorganisation of the dating app's parent company, according to a regulatory filing ahead of its IPO. Bumble also loaned $119M to an entity controlled by Ms Wolfe Herd. She settled the remainder of the loan this month. The company reported 42.1M monthly active users across Badoo and Bumble at the end of Sep, of which ~2.4M were paying users. But the company's growth has slowed since Blackstone agreed to purchase a majority stake in 2019 and installed Ms Wolfe Herd as CEO. Bumble reported net losses of $117M in the first nine months of last year, a reversal from positive earnings of $69M during the same period in 2019, but a figure that the company said was affected by transaction costs. In the first nine months of 2020, Bumble reported revenues of $417M, up 14.9% YOY. The company said it would use IPO proceeds largely to pay down debt and repurchase equity interests from private shareholders.
by Miles Kruppa & Hannah Murphy
See full article at Financial Times
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Bumble Survey: 40% of Single Indians to Opt for Virtual Dating in 2021
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.
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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
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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.
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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.
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Bumble Installs 'Socially-Distanced' Benches in Bangalore and Goa
AFAQS - DEC 31 - The benches have two seats placed six feet apart at either end and are painted in the app's famous yellow colour with the "we love healthy boundaries" messages splashed on them. Bumble has also released a new series called "Dating These Days" where popular voices discuss dating in India, making the first move, and familial matrimonial pressure.
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Bumble India Campaign
AFAQS - Dec 25 - Bumble's campaign of five ad films encourages Indian women to make the first move.
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