WALL STREET JOURNAL - Bumble may never have the broad appeal of Match Group but it is looking more lovable. Since going public in February, its share price has dropped 54% from where it opened on its first day of trading. Over just the last three months, it is down 36%, while Match’s share price has fallen less than 2%. But according to Q3, Bumble ARPU was ~$23, growing 18.5% YOY. Bumble's worldwide download grew 20% YOY. Bumble reported Q3 revenue for its namesake app grew 39% YOY, suggesting more people who are downloading the app are opting to pay for it.
538 posts categorized "Bumble"
Bumble Investors Should Be More Thankful
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Bumble Drops Below IPO Price
GURUFOCUS - Bumble stock dipped 19% following the release of Q3 earnings which disappointed investors because of lackluster paid subscriber additions. The company is likely to come under more pressure in the coming months. Badoo saw its revenue decline 3% to $58M in Q3, while its number of paid users dipped 9% YOY to 1.33M. The average revenue per paid user rose by 6%. Revenue from the Bumble app came to $142M for the quarter, up 39% YOY. The total number of paid users and the average revenue per user increased by 5% and 19%, respectively. Although these numbers look promising, it is worth noting that the company reported a decline in paid users from the second to third quarters, which suggests the strong momentum behind the company’s online dating products is waning.
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Bumble Looking for Head of Crypto & Web3
BENZINGA - Bumble is swiping right on the metaverse. According to a job posting on LinkedIn, Bumble is looking to hire an executive for the role of "Head of Crypto and Web3" responsible for laying the foundation to support Bumble's crypto strategy with a focus on next gen community and creator economies. "What we really think is really interesting in the near term is the application of blockchain and crypto...to the experience that our communities have," said Bumble President Tariq Shaukat. Bumble is testing a number of things related to the space which they will be rolling out in the coming months.
by Samyuktha Sriram
See full article at Benzinga
Mark Brooks: Metaverse is fascinating. But what is it and how might it look for dating and social? I've invited David Siegel to speak on the subject at the next LTR, on Dec 1st.
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Bumble Q3 Results: Revenue up 24%, Net Loss ~11M
BUMBLE - Bumble total revenue increased 24% to $201M, Bumble app revenue increased 39% to $142M. Badoo app and other revenue declined 3% to $58M. Total paying users increased to 2.9 M. Net loss was $10.7M, compared to net loss of $22.8M last year.
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Indian Dating Apps Add New Language Badges
DESIBLITZ - Indian dating apps such as Bumble, Aisle and Neetho have added new language badges to aid connections. Users can showcase multiple languages.
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Bumble Reaches Majority Female C-suite With the Hire of a New Chief People Officer
FORTUNE - Today, Bumble reaches a leadership milestone that helps cement that positioning: the company's senior leadership team is now majority-women. It crosses that threshold with the hire of former Dunkin' chief human resources officer Stephanie Lilak as chief people officer. With Lilak on board, women now account for seven out of 12 members of its executive leadership team.
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Bumble Is Campaigning to Make Cyberflashing Illegal
MASHABLE - Cyberflashing is the act of sending non-consensual explicit photos. The violation is not currently illegal in England and Wales. It has been criminalised in Scotland for more than a decade. Bumble is launching a campaign #DigitalFlashingIsFlashing to call on the UK government to acknowledge the need for a new law in England and Wales criminalising the sending of non-consensual explicit images. According to Bumble, 48% of women aged 18 to 24 had received a non-consensual sexual photo in the last year alone, with 59% reporting they felt less trusting of others online afterwards, with one in four stating they feel violated.
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Bumble Opens NYC Restaurant
EATER NEW YORK - After experimenting with pop-up cafes, Bumble Brew (BB) opens its first permanent location in Nolita, NYC, starting Oct 21st. The veg-heavy menu has Italian dishes, squid ink pasta, dry-aged cheeseburger, and mushroom omelettes, mostly ~$20. Starting 2022, BB will host social events at the 3,500-sq ft space.
by Elisa Mala
See full article at Eater New York
Mark Brooks: This is a very unusual strategy for a dating app, but will help fuel word-of-mouth and press. What do you think?
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Bumble Awarded "Leading the Way Award"
BUSINESSWIRE - How Women Lead, the fast-growing national organization of top executive women focused on achieving equity for women in the workplace, investment, philanthropy and all aspects of life and career, named their annual winners for its #GetOnBoard Awards. This is the fifth year that How Women Lead has recognized people and companies for their impactful work creating more equity for women in the workplace. Bumble has received "Leading the Way Award" for taking the lead in the US with gender diversity in the boardroom and setting an example for other companies to follow.
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To Make Real Money With an iOS App, Offer Entertainment, Gaming, or Dating
ABC MONEY - By the end of 2021, Statista estimates that mobile apps will generate ~$693B in revenue through paid downloads and in-app advertising, up 17.6% YOY. This amount is expected to continue increasing to $935B by 2023. The Apple App Store generated $21.5B in consumer spending in the Q3 of 2021, compared to just $12.1B on the Google Play Store, a 55% difference. In August 2021, the Apple store launched ~32,500 unique apps, with a total of 2.22M estimated to be available for download on the store. The vast majority of apps on the top 50 list fall into the entertainment, gaming, or dating genres. Two of the top ten spots on the Apple Store's top-grossing list belong to Tinder (2nd) and Bumble (8th), with an honorable mention of Hinge occupying number 28 on the top chart.
by Claire James
See full article at ABC Money
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Bumble Founder Whitney Wolfe Herd Is Looking Ahead 'Decades Not Days'
FORBES - After a $2.2B IPO last February, Bumble dating app founder and CEO Whitney Wolfe Herd is operating "business as usual". Shares on the Nasdaq sagged to $40 in the summer after debuting at $76. "I'm not obsessed with the stock," she said, "I'm obsessed with the customer, the team, the innovation we're planning for the future." "If you're trying to get to that next milestone, don't focus on the short-term. Stay married to the long-term vision," Wolfe Herd told the audience of Forbes 30 Under 30 list honorees.
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How Do the Best Dating Algorithms Work?
MASHABLE - Tinder: The Tinder algorithm used to be based on the Elo rating system, which was originally designed to rank chess players. The "Elo score" gauges how other profiles interacted with yours. It logged your swipes. Elo is no longer used. Now, the most important thing a user can do is...use the app. The more data Tinder has on you, the more Tinder knows your preferences and the algorithm is based on how your profile is Liked or Noped.
Hinge: The dating app "designed to be deleted" doesn't have swiping. Hinge uses the Gale-Shapley algorithm. This Nobel-prize winning algorithm was created to find optimal pairs in "trades" that money can't buy - like organ donations. Say there are 10 women and 10 men. How do they get paired up? Well, tell one group (either the men or women) to pick their first choice, and if they get rejected they move on to their second choice. Continue until none of the people left want to get matched anymore. Tell the app when you've met a match in person and Hinge understands who you're interested in.
OkCupid: OkCupid has 4k questions. There's 60 sexual orientation and gender options. OkCupid calculates a match percentage. If another user has similar search preferences and responses to questions as you, and is looking for the same things relationship-wise, you'll have a high match percentage.
Bumble: Bumble is similar to Tinder in that it uses a swipe model. Bumble declined to comment about its search algorithm.
Grindr: Grindr only uses algorithms for security purposes, like detecting spam accounts. There's no recommendation algorithm to speak of on Grindr today.
by Anna Iovine
See full article at Mashable
Mark Brooks: Frankly, I'm surprised at the lack of substance here. Our job is to bring clarity to a complex problem. Who to date? Who to marry? Who to raise a family with? (...and perhaps guide people further on how not to screw it up). This is not an unsolvable problem, but it is highly nuanced. Culture, religion, values, and lifestyle preferences compound the problem. Also, what people say they want and what they are willing to accept can be quite different. i.e. stated preferences vs revealed preferences. Observing people's behaviors and getting feedback after each date is key. Also, we really need to know when we have been successful. When we have clear visibility on this, at scale, then AI becomes useful for helping us solve for long-term compatibility.
See the top news on Tinder See the top news on OkCupid
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Bumble Announces Small Business Grants for Black-owned Businesses
BUSINESS LEADER - Research by Bumble shows that across the UK, racial bias is overwhelmingly happening at popular date spots. As a result of these experiences, almost two-thirds (65%) of Black British people say that they actively choose to go on dates at Black-owned small businesses. Based on these findings, Bumble is launching a campaign celebrating Black-owned businesses. The campaign, in partnership with Metallic Inc, and featuring Reggie Yates, Zeze Millz, and Stephanie Yeboah, will showcase Black-owned date spots and will include the launch of a grant programme to support small businesses that have been hard hit by the pandemic.
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Where Will Bumble Stock Be in 5 Years?
THE MOTLEY FOOL - Bumble went public in February at $43 per share. The stock opened at $76 a share on the first trading day, peaked at $84.80 a few days later, but lost its momentum and dropped below its IPO price in May. The stock now trades in the low $50s, but it's volatile debut burned many investors. It could still double or triple within the next five years if its revenue continues to rise 20% annually. Bumble's biggest near-term challenge is the pandemic. Its revenue increased 36% in 2019, but it grew just 19% in 2020 as more people stayed at home. Growth accelerated again in the H1 of 2021 as people started to go out again, and it expects its revenue to increase 29% to 31% for the full year. Next year, analysts expect Bumble's revenue to rise 24% to $943M. Over the next five years, Bumble will likely continue to grow. It might acquire more apps to gain new users, but it could also expand Bumble's non-dating features to become a female-oriented social network.
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Bumble Launches Second Edition of Content Series Dating These Days
BUZZINCONTENT - Bumble has launched the second edition of its series 'Dating These Days', which aims at helping single Indians navigate conversations and challenges around dating post the pandemic in 2021.
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