After a strenuous year fighting a lawsuit against the company she co-founded, Tinder co-founder Whitney Wolfe Herd joined Russian entrepreneur and Badoo founder Andrey Andreev to launch Bumble.
Bumble was designed from the ground-up to be a different type of dating app, in which women message first. If no message is sent within 24 hours, the pair are unmatched. Herd saw this functionality as “pro-feminist”, empowering women to make the first move and their own choices.
While not everyone was sold on the idea, Bumble has proved the doubters wrong. In 2020, it reached 100 million users and has become the primary competitor to Tinder among people under 35.
Like Tinder, Bumble users can swipe right to show interest. Much of the design is borrowed from Tinder, but Bumble aims to be for longer-lasting relationships, while Tinder is considered more of a casual app.
Bumble also generates revenue through its premium service, in which users are provided with more swipes and other additional interactions. Bumble generated $240 million in revenue in 2019, and has beat its projected revenue run rate for two years.
Alongside the dating app, Bumble has also launched BFFs, a matching system for friendships. Bumble Bizz is a professional networking service, which is a cross between dating and LinkedIn. Both sub-systems have a few million active users.
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As Bumble started to gather traction, Match Group, responsible for Tinder, Match and OK Cupid, approached Herd with an offer of between $500 million and $1 billion for the company. It may have sent multiple offers between 2016 and 2018. Bumble published a snarky reply to the acquisition attempts and has since filed a lawsuit against Match for alleged plagiarism.
In 2019, the holding company for Bumble and Badoo was acquired by investment firm Blackstone for $3 billion. Investigations into sexual misconduct allegations at Magic Leap, specifically against Andreev, shook Bumble’s reputation as a pro-feminist app, although Andreev has been acquitted of any irresponsibility.
Since 2018, Bumble has been planning to IPO, but we still have no set date. Rumours suggest the IPO would value the company at between $6 to $8 billion, lower than the $20 billion market cap of Match Group, but potentially almost as valuable as Tinder.
We have collected data and statistics on Bumble revenue, valuation and users. Read on below to find out more.
|Launch date||December 2014|
|People||Whitney Wolfe Herd (co-founder, CEO), Andrey Andreev (founder, Magic Lab)|
|Business type||Private (plans to IPO)|
Bumble has not publicised its monthly or annual profit, but CEO Whitney Wolfe Herd said to Fast Company in 2018 that it was profitable.
Bumble other key stats
- Bumble has surpassed its predicted run rate for the past two years
- It is expected to reach $300 million in revenue by 2020
- During COVID-19, Bumble saw a 25 percent increase in usage (Mother Jones)
- Bumble hit 100 million users in 2020 (TechCrunch), a 33 percent increase on 2019
- Five million Americans use Bumble, making it the second most popular app in the US behind Tinder (Statista)
- There have been over four billion total swipes (TechCrunch)
- In 2017, 800 million people had matched on Bumble (Forbes)
- There were over two million swipes per hour (TechCrunch)
- 72 percent of Bumble users are under 35 (Forbes)
- Bumble is available in 150 countries