Whitney Wolfe Herd found gold in designed a female friendly dating app, Bumble. Herd started her career at Tinder and found that women needed voice in dating app. She designed one where only females can initiate conversations and it helps them to feel more at ease. With over 22 million registered users, it has found success.
She started to plan a launch party in October for a new Bumble product, and she was very deliberate in the message she was sending. She chose the same Manhattan location that hosted other powerful lunches and executives, Four Seasons restaurant, for nearly 57 years. The power lunch is no longer for men it is for women too.
Bumble has earned their power lunch with over 70% growth this year.In August 2016, they began to utilizing in app purchases and have 100 million in sales so far. With the exponential success of Bumble, they have been approached by Match for a 450 million dollar buyout, which was turned down. Match approached her again in the fall with an over 1 billion dollar buyout and Whitney Wolfe Herd would keep 20% of the stock. With 90% of dating apps that fail, Herd has beat the odds by catering to the undervalued segment of the population: women.
Women pay the small 9.99/month fee for the time to have the extra perks of Bumble app, and they are showing in the ever-increasing number of users. Herd wanted to create a space for women to feel welcome. Bumble was not her first idea. Originally, she wanted to create a female friendly social network called Merci. A friend in the dating app industry, the founder of Badoo, tried to recruit her, but she wanted to start her own company. Bumble was born. Women could be their own real life Cinderella. They receive a chance to send out the first message, but if a man does not reply within 24 hours it disappears. No wait time. Women get a chance to be more comfortable. A formula that works. Whitney Wolf Herd has listened to her consumers and made the dating world female friendly.
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