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Dating apps are in a rut, and AI won't help
Bumble's stock slid over 6% after a rough quarter, with paying users dropping nearly 9% to 3.8 million.
Fewer people are sticking around, thanks to "dating fatigue," ongoing inflation, and not enough new features to keep things fresh.
Both Bumble and Match Group are now reworking their apps in hopes of winning back subscribers.
Bumble is rolling out more AI-driven features
To shake things up, Bumble is rolling out more AI-driven features aimed at making dating less exhausting and more fun.
Still, analysts say the mood around dating apps is pretty gloomy—RBC Capital Markets notes it "may not yet be the darkest before the dawn."
With its stock trading much lower than Match Group's, Bumble clearly has some work to do convincing both users and investors it can bounce back.