Bumble CEO Net Worth : Whitney Wolfe Herd is now the world’s youngest self-made female billionaire and the youngest woman in the US to take a company public, after her dating app, Bumble, made its Wall Street debut. The company was valued at $14 billion after its shares jumped over 76% in their stock market debut on Thursday. Wolfe Herd, who also co-founded rival app Tinder, ended the day with a net worth of $1.5 billion.
What is Bumble and how does it work?
Bumble is a dating app similar to Tinder, where daters create a small profile of themselves with pictures and they can swipe through potential suitors. Users can swipe right to “like” a profile and left to reject, and when two people have both “liked” each others profile it is a match. However, Bumble only allows the female to make the first move and she has to send the first message.
If the woman doesn’t send the first message within 24 hours after pairing, the match is lost. The app is believed to have 55million users worldwide and 72 per cent of users are under the age of 35, according to business statistics firm DMR. There have been 850million matches, and 5,000 weddings and engagements that started on Bumble.
To use Bumble you first have to download the app from your app store and create an account, which you can do through Facebook. You can then chose pictures from your Facebook account to be included in your profile and you can also write a short bio about yourself. The app then uses your location to scan for potential matches around you using your preferences on gender, age and how far away they are.
If you see a match you like, you swipe right, if you are not so keen you swipe left. When you and another person both swipe right for each other, you match and then the female has 24 hours to make the first move and message. If she doesn’t the match is lost and you can no longer message each other. Or even if she does message, if they guy doesn’t reply within a day, the match also disappears forever.
Growth of the dating app “Bumble”
Whitney Wolfe Herd was 25 when she started the female-focused dating app Bumble in 2014 after an acrimonious exit from Tinder, a company she co-founded.
Seven years later, Bumble went public — and made Wolfe Herd a billionaire.
Bumble Inc. was traded publicly for the first time Thursday after raising 2.2$ billion, pricing its shares at $43 during an initial public offering, Barron’s reported.
Her net worth was previously valued at $575 million, according to Forbes.
Wolfe Herd, now 31, is also one of the youngest woman to take a company public in an IPO, CNBC reported.
“It’s not just me, I built this with a wide team but I think everyone can be here if they stay true to what they’re trying to achieve,” Wolfe Herd told CNN in an interview Thursday. “It is time there are more women in positions of leadership, on boards, receiving capital and funding.”
Check out Whitney Wolfe Herd’s tweet:
Today, @Bumble becomes a public company. This is only possible thanks to the more than 1.7 billion first moves made by brave women on our app — and the pioneering women who paved the way for us in the business world. To everyone who made today possible: Thank you. #BumbleIPO 💛🐝 pic.twitter.com/OMLNGNvECB
— Whitney Wolfe Herd (@WhitWolfeHerd) February 11, 2021
Wolfe Herd sued Tinder — where she dated fellow co-founder Justin Mateen for discrimination and sexual harassment after leaving the company, Business Insider reported. The case was later settled out of court for an undisclosed amount.
But her experience there laid the groundwork for Bumble, based in Austin, Texas, that requires women to take the first move and encourages female empowerment, according to the company’s website.
Whitney Wolfe Herd is INCREDIBLE.
1. At 31, she's the youngest woman to take a company public.
2. Her stake in Bumble is now worth over $1.5b, making her one of the youngest female self-made female billionaires ever.
3. IPO'd with a 70%+ female board.
4. Raised $2.2b in IPO pic.twitter.com/QTjN30nxix
— The Hustle (@TheHustle) February 11, 2021
Today, Whitney Wolfe Herd makes history as the youngest female CEO to take a company public.
🐝 Co-founded Tinder & Bumble
💰 Grown Bumble from $10 million revenue in 2016 to $240 million in 2019
👩💻 IPO’d with a 70% female board
Incredible story 👏 pic.twitter.com/z11ACglGGR
— Ollie Forsyth (@ollieforsyth) February 11, 2021
Whitney Wolfe Herd became the youngest-ever woman CEO to take her company public. She did so as a second-time founder, leading a management team that is 56% female and board that is 73% female 💜$BMBL @miflink https://t.co/hDPGq9mtNe
— Jimena Colín (@jimee_cf) February 11, 2021
At just 31-years old, Bumble founder Whitney Wolfe Herd is breaking records! 👏 pic.twitter.com/DXIEeC1vGZ
— The Female Quotient (@femalequotient) February 9, 2021
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