Whitney Wolfe Herd, the CEO, and co-founder of the online dating app Bumble became the youngest female billionaire. After dating app Bumble went public in the US, her name has become a record for becoming the youngest female billionaire. Bumble is the second largest dating app in the world after Tinder, of which Whitney Wolfe owns about 12 per cent. 31-year-old Whitney Wolfe accumulated $1.5 billion in net worth by the end of the day.
At the same time, shares of Bumble rose from the initial price of $43 per share in IPO to the rate of $76 per share. Whitney Wolff herself tweeted, stating that “Today Bumble becomes a public company. This is only possible thanks to the 1.7 billion Brave women on our app and the pioneering women who paved the way for us in the business world. Thank you.”
The journey of The Youngest Female Billionaire
Whitney Wolfe used to work in the popular dating app Tinder before creating her dating app. She used to be the co-founder of Tinder But, in 2014 she left Tinder, and after that, she became the one to find Bumble. Whitney had a dispute with Tinder’s former boss. Subsequently, Whitney was threatened to be stripped of her title as the co-founder of Tinder. Whitney resigned from Tinder following the controversy.
Whitney Wolfe then worked with London-based Russian billionaire André Andreev, Who was creating dating apps for the European and Latin American markets, to create Bumble. Wolfe explains that the important role given to women in the Bumble app makes it special. Only women can approach first on this app. Women decide who they want to go on a date with. Bumble has more than 40 million monthly active users worldwide. There are more than 25 lakh paid users. This dating app works in more than 150 countries in the world.
In 2017, when the Bumble app started growing rapidly, Match Group attempted to buy the app for $450 million, but Wolfe Herd rejected the offer. The company had revenues of $417 million in the initial 9 months of 2020.