Recently on Thursday 11 Feb Bumble, a Dating app launched its IPO on NASDAQ making its Wall Street debut and the company has set a $2.2 billion price for its initial public offering. So what really is Bumble and how it is different from Tinder, Grindr, Hinge, etc dating apps which are already on the market?
STORY OF BUMBLE:-
Bumble a unique dating app that gives women access to take their first move, is founded by 31-year-old Whitney Wolfe Herd a self-made female billionaire and an ex-Tinder Co-Founder. Wolfe Herd sued Tinder for sexual discrimination and harassment and settled for just over $1 million in September 2014.
Bumble was launched three months later in December 2014. It was co-founded with Badoo Founder and CEO Andrey Andreev. According to the agreement Andreev got 80% ownership and Herd got 20% ownership of Bumble.
Bumble was made public on the stock exchange, and it made 31-year-old boss Whitney Wolfe Herd a self-made female billionaire.
What is Bumble?
Bumble is a dating app popular amongst young people. You might think what makes it so special in the world of Tinder, Hinge, Grindr, and more, but Bumble has always had a distinct USP(Unique Selling Proposition).
For heterosexual women looking to meet a man, the woman is in control – she is Queen Bee, hence the name Bumble.
In a letter published before taking Bumble public, Ms. Wolfe Herd wrote: ‘I have experienced first-hand how unequal relationships negatively impact all areas of life.’ ‘I wanted to change this.’
Giving women more power over what sort of interaction they receive online has proven a masterstroke, as the company’s value has rocketed.
Before few days of listing on Nasdaq where Shares in the firm debuted at $43 each (approx. £31), valuing it at over $8 billion (approx. £5.7 billion).
But in opening trade on Thursday, February 11, shares shot up to more than $76 apiece (approx. £54) making the firm worth more than $13 billion (£9.4 billion).
HOW BUMBLE WORKS?
When members of the opposite sex match on Bumble, women are required to make the first move, shifting old-fashioned power dynamics and encouraging equality from the start. Whereas in terms of same-sex match anyone can make their first move.
PHILOSOPHY BEHIND BUMBLE
Healthy relationships are central to living a positive, productive life. Bumble is a social network that allows you to feel empowered while you make those connections, whether you’re dating, looking for friends, or growing your professional network. One first move on Bumble could change your life. Read Full Post here.