Bumble, a prominent player in the online dating industry, went public with a $13 billion IPO in 2021. As of 2023, the company is valued at approximately $6 billion, boasts 58 million users worldwide, and reports an annual revenue of $844 million.Bumble, a prominent player in the online dating industry, went public with a $13 billion IPO in 2021and is today valued at about $6B, with 58M worldwide users and a reported $844M annual revenue in 2023. 

But what’s interesting about Bumble is that it was founded by a 24-year-old founder, Whitney Wolfe Herd, who intended and branded Bumble to be a “feminist” dating app. In the traditional dating culture, Bumble brought a fresh concept of “women making the ‘first move,’” which caught the attention of millennials. 

Combining that feminist narrative with strong branding and marketing, Bumble today has a 26% share of the entire online dating market and goes neck-to-neck, with Tinder having 27% of the pie. 

In this article, we will discuss how Whitney Wolfe Herd, one of the co-founders of Tinder, founded one of its biggest rivals and became the world’s youngest self-made female billionaire.

Whitney Wolfe Herd: Early Days of Social Work

Fresh out of Southern Methodist University (Texas), a Salt Lake City, Utah-born 22-year-old girl who was raised in Paris, France, in her teenage years was clueless about what to do with her career. 

Having majored in International Studies and founded a non-profit organization called "Help Us Project," she had a good experience in social entrepreneurship. She, along with Patrick Aufdenkamp, a popular stylist, sold bamboo tote bags to support communities impacted by the BP oil spill.

Shortly thereafter, she collaborated with Aufdenkamp to launch a clothing line named "Tender Heart," which aimed to raise awareness about human trafficking and promote fair trade practices. Following her graduation, Wolfe Herd also journeyed to Southeast Asia, where she engaged with orphanages and contributed to their efforts.

Academia to Adventure: Finding Purpose 

In reflecting on her early experiences, Whitney Wolfe Herd has remarked on the traditional measures of success, like return on investment and television ratings, which she found exceptionally dull.

Ultimately, she realized that this path wasn’t for her. Instead, she pursued a degree in International Studies, immersing herself in a blend of pressing global issues such as globalization, anthropology, women's studies, and international relations.

This diverse education became invaluable, equipping her with insights into human behavior vital for her career in marketing. Understanding why people choose their partners and how they interact online became a core focus of her work. Possibly, for her, this became a foundational work and mind training for what was yet to come. 

As she transitioned from academia to the professional world, Wolfe Herd envisioned herself as a travel photographer, a dream she held despite lacking formal training. 

Finding Tinder

Serendipity played its role when, one evening, at a dinner in Los Angeles, 22-year-old Whitney Wolfe was introduced to the general manager of an incubator. Seizing the opportunity, she expressed interest in a marketing position. She called him the next day, which led her into an incubator that eventually launched Tinder.

The initiative was eventually scrapped, but Wolfe Herd became part of the development team for the dating app Tinder, originally called MatchBox, alongside Rad and Chris Gulczynski. 

She took on the role of vice president of marketing at Tinder and is even credited for coming up with its name. Wolfe Herd was instrumental in creating the brand's social media presence, but her experiences also exposed her to the darker sides of the tech world.

Clash with Tinder: Sexism & Harassment 

In and around 2013, Whitney was involved in a romantic relationship with Justin Mateen, who was also a co-founder at Tinder. However, after that relationship ended, according to Whitney, she was subjected to mistreatment that included threats of termination without just cause and patronizing behavior, likely exacerbated by her status as a young female co-founder.

Ultimately, she left the company under extremely difficult circumstances and filed a lawsuit that resulted in a reported settlement of $1M. Note that this was before the “Me Too” movement, and she received a lot of media backlash for this, which also led her to her low phase of battling depression and paranoia. 

Of course, that’s understandable, as this was just a young girl and had spent about two years building a company, which she had to abandon for quite an unfair reason. No settlement amount can be enough for what the woman faced. 

Finding Bumble: A New Wave of Feminist Online Dating

After experiencing online harassment, Wolfe Herd began designing a social network exclusively for women that would focus on giving compliments, which she called Merci.

Although she was initially reluctant to return to the dating sector, she eventually partnered with Badoo founder Andrey Andreev to build a team and create a new dating app geared toward women. She initially intended to name this app Moxie, but the name was already in use.

In December 2014, Wolfe Herd relocated to Austin, Texas, where she established Bumble, a dating app designed with a focus on female empowerment. The concept was fresh. Here, women make the first move, and only they can initiate the conversation.

Bumble’s Success: When Strong Personal Values Meet a Unique Business Idea

By December 2015, Bumble had facilitated more than 15 million conversations and achieved 80 million matches. It rapidly acquired more users and reached 22 million users by 2017, and Whitney Wolfe Herd was named Forbes 30 under 30 in 2017 and 2018. 

Today, amongst 5000+ dating apps, Bumble dominates the dating market with a massive stake of 26% and is a publicly traded company valued at $6B. But how did Wolfe make this happen?

Women Safety

Wolfe credits this to a few things. Firstly, she claims that prior to Bumble, most dating apps focused solely on catering to men’s needs. They approached the problem from the wrong angle, prioritizing what would appeal to guys while neglecting the crucial input from women. The reality is that no woman enjoys being harassed online, yet that issue seemed to go unacknowledged.

Wolfe Herd aimed to redirect this focus back to women, drawing inspiration from her original concept of Mercy—a supportive and safe space for females. She recognized that the existing dynamics in dating apps were flawed; typically, men would message multiple women, leading to an overwhelming lack of responses from women, which in turn fostered feelings of rejection and aggression. 

This hostile environment often resulted in harassment. She proposed a solution: women should initiate conversations first, with a 24-hour time limit for them to respond—a concept that could empower women while alleviating men's feelings of rejection.

Inclusivity

It’s essential to note that this approach stemmed from a predominantly heterosexual dating landscape in 2014. Since then, Bumble has evolved its inclusivity efforts to embrace a broader spectrum of identities, ensuring that everyone, including non-binary and transgender individuals, feels welcomed.

Exceptional Branding & Marketing

Wolfe Herd also saw the importance of branding Bumble distinctly. Instead of employing the tactics used at Tinder, she tailored her marketing to resonate with women, offering items and imagery that were inviting and feminine, creating a warm and safe environment.

For example, in the early weeks of Bumble's launch, they placed signs around university campuses featuring bold "X's" with messages prohibiting access to popular platforms like Facebook, Instagram, Snapchat, Bumble, etc. 

By associating Bumble and its logo with these popular dating applications, they subconsciously planted the seed of Bumble and instigated curiosity among them, effectively nudging students to ask, "What is Bumble?" 

This strategy sparked a sense of intrigue and urgency among students, leading them to explore the app. They also sent individuals wearing Bumble shirts to disrupt large classes to do the same. These micro-everyday actions led to the initial tractions.

Furthermore, Bumble was among the first tech companies to pay for content on meme accounts, which helped reach vast audiences before these platforms became commercialized. Central to its brand was a commitment to female empowerment, addressing online harassment and emphasizing women's agency in dating.

Today, if you look at Bumble, its branding is studied in marketing and MBA classes because it’s so effective, strategic, and innovative. 

Empathetic, Socially-Conscious & Forward-Looking Leadership

As a leader, Wolfe Herd acknowledges that her leadership style has been shaped by changing societal expectations, especially in the wake of the internet's rise and the pandemic. 

Given her background in international relationships, previous ventures in social entrepreneurship, and personal experiences, Whitney displays humanistic qualities and also leads with them. 

Besides, she’s a young leader who understands that millennials, Gen-Z, and young people could resonate with the branding and values of the company. 

Leaders today are more vulnerable and approachable, requiring them to engage with their teams on a deeper level. When asked about her leadership approach, Wolfe Herd reflects on her tendency to be empathetic, sometimes to a fault. 

She strives to connect with her team's diverse needs, always aiming to embody the values of Bumble both internally and externally. However, she recognizes that addressing every individual's concerns can sometimes be a difficult balance to strike within the business.

Final Thoughts

Bumble and its parent company, Badoo, were eventually acquired by Blackrock in 2019 at $3B and IPO’d at $13B in 2021. Although its valuation dropped by more than half in the next couple of years, its revenue is steadily growing.

Bumble’s story is a remarkable one that highlights the changing landscape of the startup ecosystem, where a company is like an entity with values and principles that must be smartly incorporated into its branding.

If people resonate with that message, the company wins. Authenticity is rewarded more than anything! Bumble may be a simple dating app, but its concept works for millions of people. Of course, they played it smart and hard with their innovative marketing as well to make that happen.

There are still a lot of shortcomings in the world of online dating, so it would be interesting to watch its evolution in the coming years. Hope you liked this story. Thank you for reading!