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Home / News / Business News / Bumble IPO makes Whitney Wolfe Herd world's youngest woman billionaire
  • Business

    Bumble IPO makes Whitney Wolfe Herd world's youngest woman billionaire

    Chandraveer Mathur
    Written by
    Chandraveer Mathur
    Mail
    Last updated on Feb 12, 2021, 08:56 pm
    Bumble IPO makes Whitney Wolfe Herd world's youngest woman billionaire
  • Bumble was founded in 2014. The company launched its IPO on Thursday. During trading, the share price went up by 65 percent to $70.31 per share.

    This made the dating app's 31-year-old co-founder Whitney Wolfe Herd the world's youngest self-made woman billionaire.

    Her stake in Bumble was worth $1.6 billion on Thursday.

  • In this article
    Match Group tried buying Bumble for $450 million in 2017 Herd co-founded Bumble after suing ex-employer Tinder for sexual harassment Andreev accused of sexual abuse at Badoo before co-founding Bumble Wolfe Herd married oil baron after raising oil-spill awareness Bumble's IPO funds will be used to redeem Blackstone's shares
  • Rich dividends

    Match Group tried buying Bumble for $450 million in 2017

    Match Group tried buying Bumble for $450 million in 2017
  • Wolfe Herd is also the world's youngest CEO to take a company public in the US.

    Bumble is America's second big dating app to go public after Match.com's parent Match Group's 2015 IPO.

    Interestingly, Match Group tried to buy Wolfe Herd's company in 2017 for $450 million. However, the former's $45 billion market cap makes it much larger as it also owns dating app Tinder.

  • Landmark settlement

    Herd co-founded Bumble after suing ex-employer Tinder for sexual harassment

    Herd co-founded Bumble after suing ex-employer Tinder for sexual harassment
  • Wolfe Herd founded Bumble in 2014 with Andrey Andreev, a London-based Russian billionaire. Bumble was founded soon after she sued her former employer Tinder for sexual harassment.

    She alleged that her former boyfriend and boss Justin Mateen sent threats and derogatory texts to her, besides taking away her co-founder title at Tinder.

    Wolfe Herd received $1 million plus stock as settlement from Tinder.

  • Double standards

    Andreev accused of sexual abuse at Badoo before co-founding Bumble

    Andreev accused of sexual abuse at Badoo before co-founding Bumble
  • Andreev exited Bumble in 2019 following a Forbes investigative report alleging him of perpetrating workplace misogyny, sexual, and racial discrimination.

    Badoo was Andreev's dating-app venture prior to Bumble. The company's female employees reported sexual assault, in addition to workplace after-parties involving drugs and prostitutes.

    Wolfe Herd's Bumble partnership with Andreev is confounding considering how she exited Tinder as an alleged victim of sexual harassment.

  • Details

    Wolfe Herd married oil baron after raising oil-spill awareness

    Wolfe Herd married oil baron after raising oil-spill awareness
  • Wolfe Herd's moral dichotomy is also evident in her maiden venture, which involved selling bamboo tote bags in 2010.

    The endeavor was marketed as an anti-oil industry initiative, with sales proceeds benefiting areas affected by the Deepwater Horizon oil spill.

    However, that didn't stop Wolfe Herd from marrying oil baron Michael Herd, who happens to own 400+ oil wells in Louisiana and Texas.

  • Taking control

    Bumble's IPO funds will be used to redeem Blackstone's shares

    Bumble's IPO funds will be used to redeem Blackstone's shares
  • Bumble reported revenue of $363 million in the first nine months of 2019. The following year, revenue grew to $417 million in the same period.

    The IPO has helped Bumble raise $2.2 billion. Funds will be used to redeem shares from pre-IPO owners such as private equity firm Blackstone which owned 91 percent stake.

  • Bumble App
  • Bumble
  • Whitney Wolfe Herd
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