Whitney Wolfe’s Bumble Dating App Makes Her $230 Million Richer

Dating has never been as it is with Bumble. With Bumble app, your love is just a swipe away. The Bumble app which was founded by Whitney Wolfe to help women find life partners online. The app which was valued by Forbes at $1 billion has brought the 29-year old Whitney Wolfe a whopping $230 million fortune.

Despite missing the cut for 2018’s list of Forbes’s America’s Richest Self-Made Women, the Bumble is expected to join the ranks if its current growth rate is something to go by.

Whitney Wolfe co-founded Tinder, Bumble’s main competitor in online dating space in 2012. She however left the company in 2014 citing harassment by her cofounder, Justin Mateen settling for a $1 million payout. She was distraught by the sexual harassment she experienced at Tinder and had no plans of going back to the world of online dating.

She developed a keen interest in finding an online social platform for women. She presented the idea to Andrey Andreev, founder of Badoo but the only thing she got was a commendation for her “passion and energy”. He advised her to stick to her area of expertise, dating apps. Despite that, she never gave up.

She later presented the idea of Bumble, where women had to make the first move and send the first message. If they don’t, the match disappears in the next 24 hours. Andreev agreed to invest $10 million on the idea for a 79% stake in the company. Whitney Wolfe was allowed to tap into Badoo’s systems and software. She brought on board her marketing expertise and Bumble was born on December 2014. Within its first month of operation, the app had over 100000 downloads. Bumble Founder/CEO Whitney Wolfe Herd Joins Imagine Entertainment Board

Bumble’s feminist approach in giving women the mantra to dating is a form of empowering women in the dating space. The main idea behind Bumble is leveling the field for women. In 2016, Whitney Wolfe’s Bumble launched the BFF app aimed at helping women in career networking. Bumble founder feared she’d be blacklisted after Tinder lawsuit

Within its four years of action, Bumble has 35 million users, Bumble has been named America’s fastest growing dating app, with a growth rate of 70 percent a year. About 10% of the users pay $9.99 a month for in-app use and advertisements. The 28-year-old CEO of Bumble travels with a bodyguard after staff details were posted on a neo-Nazi website