Bumble

History

2021: Entry into the exchange, assessment in $8 billion

In the middle of February, 2021 the service for acquaintances of Bumble went public Nasdaq with assessment of $8 billion. The company sold shares for $43 that above the planned range in $37-39 for an action, and in general during primary public placement of papers attracted $2.2 billion.

The chief executive officer of Bumble Whitney Wolfe Herd became the youngest woman (31 years) who brought to the market of the USA the large company as the CEO. She thanked other women who laid this way for it and told that Bumble uses revenue from initial public offering for debt repayment and, perhaps, for implementation of new acquisitions. Private owners of Bumble will reserve about 97% of voting shares after placement.

Chief executive officer of Bumble Whitney Wolf Heard

The Bumble application is unique the fact that communication in it there can begin only women. Whitney Wolf Heard was engaged in marketing in Tinder earlier, and afterwards created home company. The managing director of Cleo Capital Sarah Kunst advising Bumble concerning investment into other startups considers that Wolf Heard has unique vision of a brand and inspires clients.

In recent years the world began to understand that women can be engaged in anything and reach any heights, - told Kunst. According to her, Bumble also showed that multi-billion technology business can be constructed in Austin (State of Texas), and not just in Silicon Valley.

During a pandemic of a coronavirus of COVID-19 Bumble added to the application of a game and other functions. Wolf Heard told that now the company holds an advantageous position as the world leaves social isolation and requires new methods of communication and acquaintance. Bumble entry into the exchange can strengthen the competition between Bumble and its main competitor — Match Group, the owner of Tinder. In due time Bumble accused Match Group of theft of a trade secret and patent infringement.^[1]

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