The business of dating
Dating is going to the stock exchange! US-based women-centric dating app Bumble has filed to have its shares listed on NASDAQ in New York and speculation have it that the company´s IPO could be a fact in time for Valentine´s Day on Feb 14. Competitor Tinder is already registered at the NASDAQ via its owner company Match Group.
Bumble has most recently been observed because of its code of conduct arguing against fat shaming. The company says body shaming may entail projecting an opinion of what a “good body” is in a bio on the platform.
“Body shaming includes fat shaming, health shaming, criticizing skin or hair, thin shaming, unsolicited opinions, and mocking someone’s physical features,” the company said in a blog post.
The list also includes “race, colour, ethnicity, national origin, religion, disability, sexual orientation, gender expression, gender identity.”
And don´t try to post a picture of yourself brandishing a gun! No weapons allowed.
The company says it had 42.1 million monthly active users as of the end of September.
Bumble was founded in 2014 by Whitney Wolfe Herd, who cut her teeth at competitor Tinder. Bumble sets women in the driver´s seat requiring women to make the first move. The idea is that this feature empowers women to make their own choices.
The Austin-based company has grown and includes non-US dating service Badoo, professional networking (Bumble Bizz) and finding new friends (Bumble BFF).
“Our long-term vision is to be the platform to meet new people, no matter what you might be looking for, whichever life stage or situation you’re in,” Wolfe Herd wrote in the letter to investors. “We will do this with our innovative technology — and by advocating for equality, both through legislation and with the power of our trusted brand.”
January to September 2020, Bumble reported revenue of USD 376 million. During the same period, it incurred a loss of USD 84 million. During the same period it had 2.4 million paying active users. Bumble operates in over 150 countries.
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