Madeline Berg recently wrote an article for Forbes titled “Bumble’s Whitney Wolfe Herd Swiped Right to a $230 Million Fortune”. The article details the explosive growth of the dating app, which recently added several verticals including Bumble BFF and Bumble Bizz.
When I founded @Bumble, I didn’t know what I was supposed to do. Just what I wanted to fix: the antiquated rules of dating. Thanks, @FitzTepper, for the story. > Whitney Wolfe Herd doesn’t care what she’s supposed to do https://t.co/hXeLSv0LdZ via @techcrunch
— Whitney Wolfe Herd (@WhitWolfeHerd) May 14, 2018
The company has been valued at more than $1 billion, landing the CEO and co-founder a fortune of $230 million. The recent growth of the company and its $100 million in revenue in the past year caught the attention of others in the space. Match Group, the company that owns the dating companies like Match.com, OkCupid, and Tinder, sought to buy Bumble for $450 million. The CEO refused the offer and Match’s other offer of $1 billion. Find out more on her articles at Forbes
However, Whitney Wolfe refused to take the deal leading to a lawsuit with Match. The company sued Bumble, claiming that it used Tinder’s patent and trademark. They also suggested the CEO used trade secrets. Bumble responded with a lawsuit of its own, seeking $400 million in damages. The lawsuits continue though Bumble continues to grow and it gained 5 million users in the last year.
Forbes also published Erin Spencer’s article “Women Thrive at the Bumble Hive”. The article reveals that Whitney Wolfe Herd who was also a co-founder for Tinder, entered the dating world with Bumble to change the way people date online. She wanted to focus specifically on changing the way women were dated online. Bumble requires that all the connections on the app begin with the woman starting the conversation.
The app has more than 500 million users. Bumble recently opened a headquarters in Austin, Whitney Wolfe Herd’s hometown. The headquarters, nicknamed “The Hive”, was designed with inspiration and positivity in mind. The co-founder wanted to help her employees feel inspired and confident. It has all the modern necessities for women working, including perks like a kitchen stocked with kombucha and beer, manicures and blowouts on Fridays and a private space for nursing moms.
They also seek to create a progressive policy for the employees. They have nearly 80 employees and 85% of them are women. The office wants to create an environment where mothers can also bring their children to work if they need too.