Bumble is a fun and quirky dating app that is unlike anything else you have seen in the space. The specialty with Bumble is that it only allows its female users to start a conversation after a woman and a man have “matched up”. They do this by both choosing each other.
The majority owner of the app is a little company you might have heard of called Badoo. In fact, they own seventy-nine percent of the app, and they are benefitting handsomely from new attention on the issues of women’s empowerment and the #MeToo movement. It makes their particular app enticing to a lot of women. That is part of the reason why the company seeks to sale the app at a valuation that would be around $1.5 billion dollars. They believe that they can get maximum value for what they believe it is worth right at this moment.
The app currently has approximately 12.5 million active users. That is up one-hundred percent year-over-year. That is one of the fastest rates of growth of any of the dating apps out there, and yet there is still plenty of room for growth in this growth industry.
Another interesting feature for many Bumble users is the fact that they can choose to view the “just friends” section. It does not have to be exclusively about dating another person. There are plenty of happily married people on the app who use it as a way to find other people to meet up with and share common experiences in a non-romantic context.
The company has also expanded to offer something called BumbleBizz. This is for the professional crowd who want to meet someone of the opposite sex. Just like with regular Bumble, women have to make the first move here as well. It is a feature that is seen throughout the entirety of the app.
Interestingly, the founder of Bumble was a co-founder of another dating app called Tinder. Her name is Whitney Wolfe Herd and she actually filed a sexual harassment lawsuit against Tinder when she left. It is reported that apparently it was settled for just over $1 million dollars at the time. She has obviously been very successful with her business ventures since that time as she has been able to shepherd in this other highly popular and empowering dating app. She deserves a lot of credit for that work.