How Bumble grew from a female-focused dating app to a global behemoth that's reportedly headed toward an IPO valued at more than $6 billion

Avery HartmansSep 3, 2020, 00:53 IST

Bumble CEO Whitney Wolfe Herd.Evan Agostini/Invision/AP

Female-focused dating app Bumble was founded in late 2014 by Whitney Wolfe Herd and Andrey Andreev, the founder of dating app Badoo.
Wolfe Herd was one of the cofounders of Tinder, but she left the company and later filed a sexual harassment lawsuit against Tinder and its parent company, IAC.
Bumble has grown quickly since 2015, amassing 100 million users worldwide and expanding into professional networking and friendship in addition to dating.
Bumble was most recently valued at $3 billion after the Blackstone Group bought out Andreev's stake last year. This led Wolfe Herd to oversee both Bumble and Badoo, owning a 19% stake in the company.
Now, Bumble is planning an initial public offering in early 2021, according to a report from Bloomberg.

Bumble is reportedly headed toward a $6 billion initial public offering.

Whitney Wolfe Herd, the founder and CEO of Bumble, launched the app in 2014 with the aim of creating a comfortable and empowering online dating space for women. Bumble has since expanded beyond dating to networking and friendship, and was valued last year at about $3 billion.

The company's initial public offering, which may happen as soon as early 2021, could be valued between $6 billion and $8 billion, according to Bloomberg's Katie Roof and Kiel Porter.

Here's how Bumble got its start and rose to become a multi-billion-dollar dating behemoth.

Bumble got its start in late 2014 after Wolfe Herd left Tinder, where she was a cofounder.

Getty/Vivien Killilea

Andrey Andreev, the cofounder of dating app Badoo, was the one who helped convince Wolfe Herd to get back into the dating app game.

Antoine Antoniol/Getty Images

Bumble was similar to Tinder in that it was a location-based dating app, but there was one key difference: Women had to make the first move.

The Bumble app in early 2015. Bumble

Wolfe Herd used the same strategy that worked at Tinder: marketing the app to college campuses. Early on, Bumble gained traction at Auburn University and the University of Texas at Austin, the city where Bumble is based.

Getty/David M. Benett

Wolfe Herd used the same strategy that worked at Tinder: marketing the app to college campuses. Early on, Bumble gained traction at Auburn University and the University of Texas at Austin, the city where Bumble is based.

By the end of 2017, two years after launching, Bumble had amassed more than 22 million users and had been approached by Match Group, the same company that owns Tinder, with an offer for a $450 million buyout. Bumble turned it down.

Joe Scarnici/Getty Images for Fortune

By the end of 2017, two years after launching, Bumble had amassed more than 22 million users and had been approached by Match Group, the same company that owns Tinder, with an offer for a $450 million buyout. Bumble turned it down.

Bumble has since expanded beyond dating: first in 2016 with Bumble BFF, a service for finding platonic friendships; then in 2017 with Bumble Bizz, a service for professional networking.

Bumble

Bumble has since expanded beyond dating: first in 2016 with Bumble BFF, a service for finding platonic friendships; then in 2017 with Bumble Bizz, a service for professional networking.

The app has also attracted celebrity partners and investors: Actress Priyanka Chopra joined as an investor when Bumble began expanding in India. Tennis superstar Serena Williams is also an investor in Bumble Fund, which backs early stage startups led by women of color.

Priyanka Chopra, right, and Whitney Wolfe Herd. Pallav Paliwal/AP

The app has also attracted celebrity partners and investors: Actress Priyanka Chopra joined as an investor when Bumble began expanding in India. Tennis superstar Serena Williams is also an investor in Bumble Fund, which backs early stage startups led by women of color.

In March 2019, Wolfe Herd successfully lobbied the state of Texas to pass a bill to make sending unwanted lewd photos illegal. Soon after, Bumble introduced its own technology that removes those types of images before users see them.

Cindy Ord/Getty Images for Girlboss Media

In March 2019, Wolfe Herd successfully lobbied the state of Texas to pass a bill to make sending unwanted lewd photos illegal. Soon after, Bumble introduced its own technology that removes those types of images before users see them.

Bumble has also become a crusader against misogyny on its app. The company wrote a blog post publicly shaming and banning a male user who sent crude and sexist messages to a woman on the app.

Business Insider/Bumble

Bumble has also become a crusader against misogyny on its app. The company wrote a blog post publicly shaming and banning a male user who sent crude and sexist messages to a woman on the app.

In July 2019, a Forbes investigation found that Badoo, then Bumble's sister company, had a history of drug-fueled parties and sexist behavior. Wolfe Herd said she was sickened by the reports and that her experience with the company had been "nothing but positive and respectful."

Bumble founder and CEO Whitney Wolfe Herd gives an interview in the Manhattan borough of New York City Reuters

In July 2019, a Forbes investigation found that Badoo, then Bumble's sister company, had a history of drug-fueled parties and sexist behavior. Wolfe Herd said she was sickened by the reports and that her experience with the company had been "nothing but positive and respectful."

After that report, in late 2019, Badoo founder Andreev sold his entire stake in MagicLab, the umbrella company for Badoo and Bumble, to the Blackstone Group. The deal valued the company at $3 billion.

David M. Benett/Dave Benett/Getty Images for Nadezda Foundation

After that report, in late 2019, Badoo founder Andreev sold his entire stake in MagicLab, the umbrella company for Badoo and Bumble, to the Blackstone Group. The deal valued the company at $3 billion.

By July 2020, Bumble announced it had reached 100 million users. Its parent company, MagicLab, was renamed Bumble and Wolfe Herd was named CEO of the whole company, overseeing 750 employees worldwide. Wolfe Herd has retained a 19% stake in the company.

Bumble CEO Whitney Wolfe Herd. Evan Agostini/Invision/AP

By July 2020, Bumble announced it had reached 100 million users. Its parent company, MagicLab, was renamed Bumble and Wolfe Herd was named CEO of the whole company, overseeing 750 employees worldwide. Wolfe Herd has retained a 19% stake in the company.

Now, Bumble is preparing for an IPO that could be worth between $6 billion and $8 billion, according to a report from Bloomberg. The company is expected to go public in early 2021.

Jerod Harris/Getty Images for Fortune

Now, Bumble is preparing for an IPO that could be worth between $6 billion and $8 billion, according to a report from Bloomberg. The company is expected to go public in early 2021.

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How Bumble grew from a female-focused dating app to a global behemoth that's reportedly headed toward an IPO valued at more than $6 billion

Bumble got its start in late 2014 after Wolfe Herd left Tinder, where she was a cofounder.

Andrey Andreev, the cofounder of dating app Badoo, was the one who helped convince Wolfe Herd to get back into the dating app game.

Bumble was similar to Tinder in that it was a location-based dating app, but there was one key difference: Women had to make the first move.

Wolfe Herd used the same strategy that worked at Tinder: marketing the app to college campuses. Early on, Bumble gained traction at Auburn University and the University of Texas at Austin, the city where Bumble is based.

By the end of 2017, two years after launching, Bumble had amassed more than 22 million users and had been approached by Match Group, the same company that owns Tinder, with an offer for a $450 million buyout. Bumble turned it down.

Bumble has since expanded beyond dating: first in 2016 with Bumble BFF, a service for finding platonic friendships; then in 2017 with Bumble Bizz, a service for professional networking.

The app has also attracted celebrity partners and investors: Actress Priyanka Chopra joined as an investor when Bumble began expanding in India. Tennis superstar Serena Williams is also an investor in Bumble Fund, which backs early stage startups led by women of color.

In March 2019, Wolfe Herd successfully lobbied the state of Texas to pass a bill to make sending unwanted lewd photos illegal. Soon after, Bumble introduced its own technology that removes those types of images before users see them.

Bumble has also become a crusader against misogyny on its app. The company wrote a blog post publicly shaming and banning a male user who sent crude and sexist messages to a woman on the app.

In July 2019, a Forbes investigation found that Badoo, then Bumble's sister company, had a history of drug-fueled parties and sexist behavior. Wolfe Herd said she was sickened by the reports and that her experience with the company had been "nothing but positive and respectful."

After that report, in late 2019, Badoo founder Andreev sold his entire stake in MagicLab, the umbrella company for Badoo and Bumble, to the Blackstone Group. The deal valued the company at $3 billion.

By July 2020, Bumble announced it had reached 100 million users. Its parent company, MagicLab, was renamed Bumble and Wolfe Herd was named CEO of the whole company, overseeing 750 employees worldwide. Wolfe Herd has retained a 19% stake in the company.

Now, Bumble is preparing for an IPO that could be worth between $6 billion and $8 billion, according to a report from Bloomberg. The company is expected to go public in early 2021.