THE MOTLEY FOOL - Apr 15 - After a highly successful IPO, shares of Bumble have fallen 24% from their highs. Bumble benefited from the pandemic-driven stay-at-home economy, as online dating became one of the only mediums to meet a match. Yet despite the seemingly perfect environment for its business, the company still struggled to generate positive earnings. The company faces a drag on its business from Badoo, whose revenue per paying subscriber fell 9.8% in 2020. Bumble suffered an overall net loss of $142.8M, which was in stark contrast to the $85M profit in 2019. The swing owes to a significant 74% ($292M) increase in operating expenses, which grew much faster than the 19% increase in revenue. Granted, some of the additional expenses may not recur in 2021.
BBC - Apr 8 - The co-founder of dating app Bumble, Whitney Wolfe Herd, has joined Forbes list of the super-rich. The 31-year-old became the world's youngest self-made female billionaire when she took Bumble public in February. Before Bumble, she was among the founding team at Tinder but after tensions with other executives - one of whom she had been dating - she left. The central focus of her app is that only women can initiate a conversation in heterosexual matches. She founded Bumble with help from early investor Russian billionaire Andrey Adreev, who also had a stake in Badoo, both of which he sold in November 2019. Ms Wolfe Herd owns a 11.6% stake in Bumble, giving her an estimated net worth of $1.3B. She also heads Badoo. The two apps have a combined 40M users, 2.4M of whom pay a subscription.
TIMES OF INDIA - Apr 7 - According to Tinder, 38% of women report being bullied online, compared to 26% of men. 26% of women aged 18-24 reported being stalked and 25% reported being a target of online harassment. Bumble is releasing a safety guide, in partnership with Safecity, Red Dot Foundation's flagship public safety platform, to identify, prevent and combat digital abuse. The block and report feature has made it easy to block and report anyone who makes them uncomfortable. The photo verification feature helps prevent catfishing. The AI, Private Detector is able to capture, blur and alert users that they've been sent an unsolicited nude image. Tinder uses tools like automatic scans of profiles for red-flag language and images; manual reviews of suspicious profiles, activity, and user-generated reports; shadow-banning suspicious accounts; as well as blocking of email addresses, phone numbers, IP addresses and other identifiers associated with bullying and harassment.
METRO.CO.UK - Apr 6 - According to Bumble's survey, 67% of people now believe it's possible to fall in love with someone you haven't met in real life. Nearly half believe that the connection they've had with people virtually will translate when they can finally meet.
Tinder Gold (1 month) - £7.49 per month - The cheapest app, and the one that dominates the field, is Tinder. Generally speaking, Tinder is thought to be great for young people, especially those who live in big cities and are on the lookout for a more casual dating experience.
Hinge Preferred (1 month) - £19.99 - Hinge is generally targeted at 18–35 year-olds, but unlike Tinder, it's associated more for those who are looking for a serious relationship.
Bumble Boost (1 month) - £20.99 - Bumble still generally falls into the same category of being perfect for young daters who are looking for some flirty messaging and casual dating.
Match.com Premium (1 month) - £29.99 - Match.com is considered one of the more mature dating apps, although it is targeted at millennials and older generations alike.
BUSINESS INSIDER - Mar 25 - After its anti body-shaming policy, Bumble has come up with a safety guide for women to combat online harassment. It has launched an initiative in partnership with Safecity, Red Dot Foundation's flagship public safety platform, to take a stand against racist, harassing, hate-driven speech, and bullying. The safety guide is aimed at equipping women to understand and recognize online harassment, suggestions on how to tackle difficult situations and resources available to prevent and combat digital abuse.
LIVEMINT - Mar 24 - Bumble has launched a safety guide as part of a new initiative called 'Stand for Safety', in partnership with public safety platform Safecity, owned by Red Dot Foundation to help women in India identify, prevent, and combat rising digital abuse. A recent survey by the dating app had found that 83% of women in India experience online harassment of some kind, and one in three women experience on a weekly basis. Further, 70% of women believe that cyberbullying has increased since lockdown was announced in 2020.
APN NEWS - Mar 23 - According to data by Finaria.it, the combined revenues of the top five dating apps globally hit $100M in January. As the most-profitable dating app, Tinder generated $64.6M in revenue that month. Tinder in-app purchase revenues skyrocketed by 250% in three years, jumping from $403M in 2017 to $1.4B in 2020. Bumble ranked as the second-most-profitable dating app, with $18.6M in revenue and 1.8M downloads in January. Bumble users spent $210M on in-app purchases in 2020, six times less than Tinder users. Hinge, Badoo, and Match followed with $8.4M, $5.1M, and $4.3M in revenue in January.
INSIDEHOOOK - Mar 18 - In short, in the age of COVID-19, all dating is online dating. From the earliest days of the pandemic, people have flocked to dating apps like never before. Dr. Jess Carbino, a former expert for both Tinder and Bumble, talks about what we can expect from dating apps post-pandemic. According to Carbino, the pandemic may have converted the last of the dating app skeptics, and the popularity of the video date represents one of the most significant changes to dating app culture since the start of the pandemic. Carbino doesn't see online dating weathering any significant post-COVID comedown. According to Carbino, so-called "dating app fatigue" has only ever been a veil for more generalized dating frustration, the same kind that has plagued daters for generations. "Rather than saying, 'I'm very tired of dating right now,' they say, 'I'm very tired of online dating,' because that's how they're meeting people," says Carbino.
MARKETBEAT - Mar 16 - Bumble had issued 50M shares in its IPO on February 11th. The total size of the offering was $2.2B based on an initial share price of $43.00. During the company's quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports or earnings estimates for the company. Following the end of the company's quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company. BMBL opened at $73.47 on Tuesday. It has a 1-year low of $57.53 and a 1-year high of $84.80.
BUSINESS INSIDER - Mar 13 - Bumble Boost is a paid subscription that gives unlimited swiping, swipe undos, and more. The subscription is getting revamped to include even more features, and Bumble is also adding a higher tier, Bumble Premium. Bumble Boost and Premium aren't available to everyone. iPhone users can get Boost and Premium anywhere, but Android users will need to be in Australia, New Zealand, or the UK. Bumble Boost now offers: Backtracking (undo an accidental left swipe); Unlimited 24-hour match extensions (Bumble normally gives users 24 hours to send a message after a match is made before it disappears); Unlimited swipes; One Spotlight a week; Five SuperSwipes per week. Bumble Premium includes: Access to Beeline (a list of everyone who's swiped right on you); Rematches with expired connections; Unlimited access to advanced filters; Travel Mode; Incognito Mode (Your profile will only be visible to users you have swiped right on).
THE VERGE - Mar 12 - Bumble is introducing Night In, a new feature that lets users play games on virtual dates. The feature is available in the US and Canada, and the game available at launch is a series of trivia questions they can answer together.
BLOOMBERG - Mar 11 - Whitney Wolfe Herd, founder and CEO of Bumble, discusses the company's Q4 results and its outlook for 2021. She also talks about the rise in users looking for more serious relationships and the app's focus on "Bumble BFF."
BUMBLE - Mar 11 - Full year 2020 revenue increased to $582.2M from $488.9M in 2019, with $110M net loss. Q4 revenue increased 31% to $165.6M (Bumble - $105.8M, Badoo and other $59.8M). Total paying users increased 32% to 2.7M. 2020 Net loss was $110.2M. Bumble anticipates Revenue and Adjusted EBITDA for the Q1 2021 and year 2021 to be: Q1 2021 revenue - $163 to $165M, Q1 2021 Adjusted EBITDA - $41 to $42M. Full year 2021 revenue - $716 to $726M, Adjusted EBITDA - $173 to $178M.