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