History
Whitney Wolfe Herd founded Bumble in shortly after leaving Tinder, where she was a co-founder and VP of Marketing. [8] [9] Badoo co-founder and CEO Andrey Andreev contacted Wolfe Herd via email, and the two formed a partnership. [10] As part of the agreement, Wolfe Herd would be the founder and CEO of Bumble and would utilize Badoo's infrastructure. [3] [11] [12]
After the partnership was established, the pair recruited fellow Tinder departees Chris Gulczynski and Sarah Mick as consultants to design the interface and help launch the Bumble dating application. [10] The app was launched three months later in December 2014. [13]
The company was valued at more than $1 billion in November 2017. [3] In 2017, UK-based gay dating app Chappy was funded primarily by Bumble and Wolfe Herd. [14] The app closed down in February 2020. [15]
In 2019, Blackstone Inc. purchased a majority stake in MagicLab, the name of the holding company of all of the apps; Bumble and its sister apps were valued at $3 billion. [16] In 2020, after the Blackstone acquisition, MagicLab was renamed to Bumble Inc. as the parent company of both Bumble and Badoo. [17]
In February 2021, the company became a public company via an initial public offering on the Nasdaq, raising $2.2 billion with a valuation of over $7 billion. [18] [19] [20] [21]
In February 2022, in its first acquisition, Bumble acquired Fruitz, a French-owned freemium dating app popular with Generation Z in Europe. [22] In May 2023, Bumble acquired Official, an app that helped couples strengthen their relationship through mood check-ins and date planning. [23]
In February 2024, Bumble announced layoffs of 350 employees, 30% of its workforce, as part of a restructuring plan. [24] [25]
In June 2024, Bumble acquired Geneva, a friend-finding group chat app. [26] [27]
In January 2024, Wolfe Herd moved to executive chair of the company and hired Lidiane Jones as the Bumble Inc. CEO. [28] [29] One year later, in January 2025, Wolfe Herd announced that she would be returning as CEO in March 2025. [30]
In June 2025, Bumble announced layoffs of 240 positions, or 30% of its workforce in a cost cutting measure that is assumed to save Bumble $40 million annually. [31] [32] [33] [34] [35]
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US$1.07 billion (2024)
US$−700 million (2024)