With just a simple swipe, some users of Bumble, a leading dating app by Whitney Wolfe Herd, are lucky enough to establish a relationship that ends up in marriage, make a new friend, or find a lucrative job opportunity. However, Wolfe may be the most fortunate of all – the $1 billion-valued app has earned its 29-year old creator a $230 million fortune. Although Whitney Wolfe didn’t appear in 2018’s Forbes list of Richest Self Made Women in America, Forbes expects her to join the rank with a short duration, provided Bumble will continue enjoying its rapid growth.
The biggest competitor of Bumble is Tinder, created back in 2002 as a “swiping” dating app that leverages the location of a customer to identify matches. Whitney Wolfe actually played an instrumental role in developing what is now her rival. Whitley Wolfe also cofounded Tinder and walked out of the company in 2014 citing sexual harassment by Justin Mateen, her co-founder and ex-boyfriend. Visit on her twitter for more latest updates.
She initially did not intend to go back to the online dating scene. Instead, she wanted to create an online social space that focused on the needs of women. She discussed the concept with Andrev Andreev, an established Russian billionaire and brains behind dating app Badoo, who didn’t seem impressed by the idea but did love the passion and energy that Wolfe exuded. Andreev encouraged Wolfe to stick to dating apps since she had already become an expert in the area. The two entrepreneurs met in London several times before Wolfe Herd unveiled the idea for Bumble.
Andreev decided to invest an initial $10 million for about 79 percent of the firm and allow Whitney Wolfe oversee software and systems unit of Badoo. Wolfe, who got approximately 20 percent of the company, brought her unparalleled marketing experience and women-first idea. Bumble was officially launched in December 2014, and it had 100,000 downloads in its first month.
Bumble unveiled an app called BFF in 2016. BFF helps women make new friends rather than dates. The next year, it launched yet another innovative app known as Bizz that helps women meet other women for career networking purposes. Just four years since its inception and with over 35 million users, Bumble is indisputably the fastest rising dating app in America.