Did Whitney Wolfe Turn Down $450 Million For Bumble?

Launching Bumble in 2014, Whitney Wolfe achieved success at a young age, appearing on the cover of Forbes and being included in the publication’s 30 Under 30 list in 2018 and in 2017 as well. In addition, she was named in the TIME 100 list in 2018. Bumble is a dating app, designed do change the way people see online dating, women having the opportunity to be the only ones who can initiate all interactions. Read this article at vogue.com to know more about Wolfe.

Wolfe attended the Judge Memorial Catholic High School and would later on go to the Southern Methodist University, majoring in International Studies. During the senior year she studied at Paris’ Sorbonne University. Prior to creating Bumble, Whitney Wolfe worked with Tinder, as the Vice President of marketing. She has been credited with fueling the apps popularity, but in 2014 she left the company as a result of growing tensions. The same year, she partnered up with the founder and CEO of Badoo, Andrey Andreev, who invested in what would eventually become Bumble, at the end of 2014. The company has its headquarters in Austin, Texas and according to Forbes it is currently valued at over $1 billion, after 4 years of existence.


In the first month after going live, the app got downloaded more than 100,000 times in the first month, and has approximately 27 million users, as of 2018, having over 70% year over year growth. A 2016 report showed that 49% of the app’s users went online every day. Whitney Wolfe noted that in the first 8 since Bumble’s inception, 5 million conversations were initiated by women. Besides their dating platform, Bumble also launched Bizz, which is facilitates business communications, and BFF, which is designed to offer users the opportunity to find new friends.

In 2016, Bumble introduced in-app purchases, which helped them earn $100 million in sales that year. Match Group, an internet company which owns many dating sites, offered to buy the platform, offering $450 million, an offer which was allegedly turned down by Whitney Wolfe. According to sources Match approached the company again with an offer of more than $1 billion, but nothing has been confirmed. View: https://www.cnbc.com/video/2018/01/23/whitney-wolfe-turned-a-traumatic-experience-at-tinder-into-her-successful-bumble-empire.html

 

 

Whitney Wolfe Herd Makes The Foster Sisters An Important Part Of Bumble

Whitney Wolfe Herd’s Bumble app has gained the ability to move even further ahead in the market. Sara and Erin Foster are now Bumble Bizz and Bumble BFF’s new creative heads. These represent the networks networking and friendship arms. Although Bumble began as a dating app, the platform for Bumble Bizz was released in October. Whitney Wolfe Herd and the Fosters have already started working on new ideas. This includes panels, television shows, and partnerships with companies led by women.

Whitney Wolfe Herd had no intention of hiring two new employees until she heard Sara and Erin Foster talk about their careers. She had invited them to the Women in Entertainment panel, and their words were kismet. Although the sisters were meant to speak of their entertainment careers, and the time Erin spent as a screenwriter, the subject shifted to the friendships between women and the ways they motivate and come together regarding business. Whitney Wolfe Herd admits to being blown away by the passion of the sisters, and their genuine excitement about Bumbles mission. She decided she simply could not live without them.

Sara and Erin are well known for their appearance on Barely Famous and their satirical portrait of Hollywood. They are both thrilled to bring new ideas to Bumble. According to Sara Foster, an opportunity like this does not come along very often. The sisters share a passion for what Whitney Wolfe Herd and Bumble have done for women, and Sara feels it’s all about inclusion. Erin stated she sees Bumble as a way for women to be clever, creative and find friends and men who deserve to be a part of the conversation. She thinks this is exactly what Bumble encourages.

Sara and Erin are both impressed and inspired by their new boss. Erin believes the CEO is a direct reflection of the product, and that Whitney Wolf Herd has a mission, yet never appears overcompensating in her actions. She believes just watching her has a positive effect. Sara says she is simply humble, a great boss, and feels genuine happiness when other women are successful. Whitney Wolf Herd says before they officially began, the sisters were already discussing a thousand ideas. She was not looking for anyone famous to attach to, just someone who would use their passion to rally for the brand. This turned out to be the Foster sisters, and they appear to be a perfect fit.

Learn More: fortune.com/2017/11/14/bumble-dating-app/