Bumble IPO: CEO Whitney Wolfe Herd on BMBL going public, stock, and mroe

On Bumble, founded in 2014 by CEO Whitney Wolfe Herd, women have to initiate the first conversation for heterosexual matches. At 31, Wolfe Herd is the youngest female founder to take a U.S. company public. She also joins the ranks of an extremely small list of women founders who led IPOs, including Stitch Fixs Katrina Lake, who took her company public in 2017, and Julie Wainwright, who took The RealReal public in 2019.

The paid offerings let users do things like make their profile more prominent, see whos liked their profile first or set themselves to travel mode. Its a similar model to rival apps Hinge and Tinder, where users join and use the core functions for free but can pay for further use. For example, the price for Hinges “preferred” membership is $19.99 per month. Bumble also makes a small amount of money from advertising and partnerships.

The company said it had 12.3 million monthly active users as of Sept. 30. Speaking to CNBC before the companys first trade, Wolfe Herd said the company is focusing its efforts on converting more of its user base to those paid customers by reinvesting in future monetization features and product offering.

Bumble said in its S-1 filing that it generated $376.6 million of revenue in the first nine months of 2020, with a net loss of $84.1 million. In that same time period in 2019, it brought in revenue of $362.6 million, and reported a net profit of $68.6 million.

Bumble raised US$2.15 billion in an initial public offering, or IPO, late on Feb. 10, just in time for Valentine’s Day. Investors swooned over the women-go-first dating app, buying more shares and at a higher price than initially expected, valuing the company at $8.3 billion.

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Bumble said in its S-1 filing that it generated $376.6 million of revenue in the first nine months of 2020, with a net loss of $84.1 million. In that same time period in 2019, it brought in revenue of $362.6 million, and reported a net profit of $68.6 million.

On Bumble, founded in 2014 by CEO Whitney Wolfe Herd, women have to initiate the first conversation for heterosexual matches. At 31, Wolfe Herd is the youngest female founder to take a U.S. company public. She also joins the ranks of an extremely small list of women founders who led IPOs, including Stitch Fixs Katrina Lake, who took her company public in 2017, and Julie Wainwright, who took The RealReal public in 2019.

The company said it had 12.3 million monthly active users as of Sept. 30. Speaking to CNBC before the companys first trade, Wolfe Herd said the company is focusing its efforts on converting more of its user base to those paid customers by reinvesting in future monetization features and product offering.

The paid offerings let users do things like make their profile more prominent, see whos liked their profile first or set themselves to travel mode. Its a similar model to rival apps Hinge and Tinder, where users join and use the core functions for free but can pay for further use. For example, the price for Hinges “preferred” membership is $19.99 per month. Bumble also makes a small amount of money from advertising and partnerships.

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