Dating service Bumble held an IPO of $ 8.2 billion, and its founder, Whitney Wolf Heard, became the youngest female billionaire with a combined fortune of $ 1.6 billion. How did an app that bet on a female audience succeed?
The history of the service began with a scandal. Bumble founder – then head of Tinder marketing – Whitney Wolfe sued the company and her ex-boyfriend Justin Matin. She accused him of creating an unhealthy work environment, harassment and systematic threats. The management denied everything, but Matin was removed from the post of CEO, and later left the company altogether.
After leaving Tinder, Whitney planned to launch her own service, Merci. One of the first people she pitched her idea to was Russian billionaire and Badoo founder Andrey Andreev. He originally planned to hunt Wolfe for the position of CMO, but was inspired by the idea of her service. Moreover, it was he who came up with the idea of the main function of Bumble – only women can start communication there.
Wolf is Andreev’s main find, says Maxim Khramov, general director of the Loveplanet service. She not only actually created the Bumble brand with her story, but also attracted a female audience. Its disadvantage is the traditional problem of dating services, where imbalances are often observed. And thanks to Wolf, Bumble was able to initially interest a female audience, that is, attracting men to the platform was only a matter of time, he says. From 2014 to 2020, women at Bumble have initiated conversations over 1.7 billion times.