Women in Tech

Whitney Wolfe Herd’s Creation of Bumble: The $13 Billion Dating App Poised to Revolutionize the Internet by Lisa

Whitney Wolfe Herd, the youngest self-made female⁤ billionaire in the world, ⁣marked her company’s debut on the Nasdaq‍ by⁤ ringing the opening bell ‍with her one-year-old‍ son ⁣in⁢ her arms. The⁢ event took place‍ at Bumble’s headquarters in Austin, ‌Texas, known as the “hive”,⁤ adorned with bright yellow balloons and hexagonal‍ beehive decorations. Underneath a large illuminated sign that​ read “Make ‌the first move”, Wolfe Herd celebrated this milestone, despite the exhaustion that came with it.

Wolfe Herd shared with GQ​ that the event was more tiring ⁣than ​it appeared⁢ on television. However, the hard ‍work paid off when​ Bumble’s shares, initially priced⁤ at $43,⁢ soared‍ to $76 the following day. This surge in share ⁤price resulted‌ in a market ‌capitalisation of around £13 billion, making 31-year-old Wolfe Herd the⁤ youngest woman to take a company‍ public.

Bumble’s success among investors was not surprising. The perception of dating apps varies among individuals,​ depending on their personal experiences. ⁤Those who have never used a dating app may view them ​as⁤ impersonal and romance-killing.⁤ Those who ‌used them over five years ‌ago might recall unsolicited explicit content and ghosting. However, regular users, of which Bumble boasts 42 million each⁣ month, appreciate⁢ the well-engineered, ​safe ⁣platforms that ‌provide conversation starters ⁣to facilitate interactions with matches. The era of profiles featuring scantily clad photos⁢ and height measurements is long gone.

Bumble stands out as one of the least toxic dating apps available. ⁢Its unique selling⁢ point is that women must initiate contact⁣ with their matches, reducing the number of unwanted messages. ​The app employs AI ‍technology, known as a “private detector”, to identify and blur explicit images before they reach the‌ recipient. Profile pictures featuring guns are strictly prohibited. ⁣The app’s overall‌ atmosphere is more serious⁤ and⁢ secure compared to its competitors.⁤ As one regular Bumble user puts⁢ it, the app is “more wholesome”.​ Another unique ⁤feature is that women have 24 hours to start a ⁤conversation ⁤after a match is made, otherwise the match disappears. ‌In same-sex matches, either party can ​initiate the conversation. This time constraint⁣ encourages users to actively engage in conversations⁢ and meet-ups, rather than ‍just accumulating⁤ matches. Hence, ‍the company’s motto, “Make the​ first move”.

Read more