Bumble CEO: There's historic 'demand to meet new people and to date again'

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Bumble CEO: There's historic 'demand to meet new people and to date again'

Yahoo Finance2021-03-11

Bumble (BMBL) founder and CEO Whitney Wolfe Herd thinks 2021 is teed up to be a big year for the dating industry as people get vaccinated and go on the prowl for love. "Clearly, there has never been a...

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Shares are still below the $76 opening price for Bumble from its Feb. 11 trading debut.\nSales for the Bumble app and Badoo app rose 47% and 10%, respectively. Total paying users increased 32% to 2.7 million.\nHere are several of Bumble's key numbers from its first-ever earnings day.\n\n4Q Net Sales: $165.6 million vs. $163.3 million estimate\n4Q EPS: Loss of 1 cent (no estimates yet)\n2021 Sales Guidance: $716 million to $726 million vs. $716 million estimate\n2021 Adjusted EBITDA: $173 million to $178 million (no estimates yet)\n\n\"While we do expect some EBITDA margin contraction due to investments in international markets and relaunched brand marketing campaigns, we believe rev growth should handily beat initial guidance given significant pent-up demand for dating,\" said Jefferies analyst Brent Thill.\nHerd created Bumble in 2014 — after leaving as co-founder of Tinder — with the vision of encouraging women to make the first move. Bumble’s key differentiator is that women have to make the first move in heterosexual matches. Either person can initiate the conversation in same-sex connections.\nPhoto by: STRF/STAR MAX/IPx 2021 2/14/21 Tinder, Bumble and Hinge surge in popularity as Americans look for love online during the Coronavirus Pandemic. STAR MAX Photo: Tinder, Bumble and Hinge apps photographed off an iphone 6s.STRF/STAR MAX/IPx\nWhile Bumble is primarily known as a destination for singles to find a romantic partner, it has since expanded into categories like networking (BIZZ) and finding friends to hang out with (BFF).\nAt 31-years-old, Herd joined a rarified group of female founders and ultra-wealthy businesspeople. Her 11.6% stake in Bumble is now worth about $843 million. And of the 559 companies that have gone public in the U.S. over the past 12 months, only three, including Bumble, were founded by women, according to Bloomberg.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":27,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}