Bumble, the app that people are now using to start dating through the swipe application might be lucky enough to find the perfect match, find themselves new friends or even to find a new job are lucky thanks to the creator Whitney Wolfe.
The new app is said to be valued at $1 billion dollars according to Forbes. The app has allowed for the 29 year old creator and founder to bring wealth to herself. While the cut off point for the richest self made women list for Forbes was cut off, it wasnt too long after that she joined the ranks of many other women who made the cut. As long as Bumble keeps ranking and bringing in the money like it has so far, next year she will make the list rather quickly. Read this article at Business Journal.
The gender gap in venture capital is staggering, particularly for women founders of color. @bumble, a tech company w/ an 85% female workforce, wants to be part of the solution. Today we launch Bumble Fund to invest in women ignored by the establishment. https://t.co/lj2edR8hof
— Whitney Wolfe Herd (@WhitWolfeHerd) August 15, 2018
For Bumble, the largest competitor that they have also utilizes the swipe application. The largest competitor, Tinder was founded in 2012 and until now was the largest swipe dating application to date. Their application will use the users location to find others in the area to match with. Whitney Wolfe was the cofounder for Tinder but left the business in 2014 upon difficult times with an ex-boyfriend and cofounder of Tinder.
Upon her departure for Tinder, Whitney Wolfe was being called many things. She was involved with full on scandals due to the circumstances of her departure from the dating app. Complete strangers who knew nothing of the behind of the scenes were making it difficult for Whitney to live a full life. It was then that she was feeling broken.
It wasnt until afterwards that she decided to enter back into the dating scene site through the use of Bumble. Whitney Wolfe went to a Russian billionaire and approached him with the concept of Bumble. At first the meeting between the two occured without Bumble being the first topic, however meeting in London a handful of times before the concept actually came to light.
Whitney spoke about how nice it would be if women were the first ones to make all the right moves. If a women doesnt make the first move within the 24 hour window, the match will disappear. The whole concept is much like the Sadie Hawkins dance concept, where women initiate the first contact.
The billionaire, Andreeev agreed to help finance the start of the application by putting up nearly 80 percent of the costs. The costs would go into the software and systems for the Bumble application costs. The initial start date for the Bumble application was set for December of 2014. Upon the start of the application, the app brought in more than 100,000 downloads in the first month.