Bumble IPO: The female founder behind the dating app making market history – CNBC
Founder and CEO of Bumble Whitney Wolfe
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When Bumble founder and CEO Whitney Wolfe Herd launched the dating app in 2014, she wanted to solve a real-world 21st century relationship problem: how to find love for the millions of women just waiting around for men. So she turned traditional dating norms upside down, creating an app launched by women, guided by women and for women that defied age-old gender norms by letting the women make the first move.
Nearly seven-years later, the company that prides itself on its female-first approach — and which soared in its opening trade on Thursday after raising $2.2 billion in an initial public offering that exceeded expectations and valued the firm at over $7 billion — has garnered a devoted following. As of the third quarter of 2020, it boasted nearly 42 million active users looking to find love with the swipe of a finger. Now Bumble also can boast about becoming a member of a small but growing list of female-founded companies to IPO, which already includes Stitch Fix founder Katrina Lake and the RealReal‘s Julie Wainwright.
“Every single day we have just gotten up in the morning and focused on building an experience around women, for women,” Wolfe Herd told CNBC’s Squawk Alley on Thursday morning. “When women are safe and happy, everyone else follows and it creates a better relationship