Bumble CEO Whitney Wolfe Rejects Nearly Half Billion Dollar Buyout
Whitney Wolfe, CEO of avowedly feminist dating app Bumble, has rejected a $450 million dollar buyout from one of the largest players in the field. Match Group made the offer this past June, and there’s no doubt that Wolfe’s history with the company has had some influence on her decision. Once a co-founder of the popular dating app Tinder, she found herself stripped of her title after rebuking multiple counts of sexual harassment from another executive. She brought a suit against the company, and settled out of court.
Further, $450 million may be vastly undervaluing Bumble. At an increase of 50,000 users a day and an expected revenue of more than $150 million a year, Bumble is on track to become one of the most popular dating apps. The company credits this to their unique approach after heterosexual couple matches, they require the woman to make the first move. Photo verification and an aggressive harassment prevention program have combined to make Bumble one of the most welcoming dating apps for women.
Whitney Wolfe is no stranger to harassment, but she has focused that experience into making the situation better for everyone. With the backing of the CEO of Badoo social network, she has turned her idea for a woman-empowering dating app into an extremely successful and expanding tech empire. This continues a long history of entrepreneurial spirit, dating back to her time at Southern Methodist University. After the Deepwater Horizon oil spill, she sold bamboo tote bags to support clean up efforts, not to mention her success with Tinder before the schism.
Earning a spot on Business Insider’s list of ’30 Most Important Women Under 30 In Tech’, Whitney Wolfe has proven herself to be a catalyzing force in the dating app scene. The recent release of BumbleBFF, a friend finding app for women, and the upcoming release of business networking app BumbleBizz, will ensure that Bumble’s earning potential increases exponentially.
Whitney Wolfe’s rejection of Match Group’s bid is another blow to the old, misogynistic way of thinking, and will allow her to continue unabated in her increasingly successful push to change the way we look at matching apps.
About Whitney Wolfe: www.fastcompany.com/person/whitney-wolfe