The Era Of Dating Apps
Online dating has been around for years from websites like match.com to eHarmony. However, within the past decade, the power of mobile phone applications has taken over most industries, including when it comes to finding love. With companies like Tinder, Hinge, and of course, Bumble, users are able to constantly swipe to find “the one” at times that are convenient to them: on a bus, airplane, waiting for food – you name it!
Bumble is one that has taken a different strategic approach. Bumble allows, in heterosexual relationships, the female to make the first move. Founded in 2014 by Whitney Wolfe Heard, who in fact was a cofounder of Tinder, Bumble’s location-based algorithm allowed women the ability to respond within 24 hours of a match being made, and if not the match would disappear. In this blog, Hollywood Branded discusses Bumble’s inspiring founder, their IPO, and the work we have done with the company.
Whitney Wolfe Heard: An Inspiration
Named one of Forbes’ 30 Under 30 in 2017, Whitney Wolfe-Heard is a powerhouse when it comes to business and inspiration to young women around the world. However, her path to becoming a self-made billionaire did not come easy. Wolfe-Heard experienced Sexual Harassment in the work place before coming up with the female-empowered dating app, Bumble.
Before Bumble, Wolfe-Heard actually was a cofounder of Tinder in 2012. She came up with the name and helped market the app initially across college campuses. It wasn’t until 2013 when her then-manager and other cofounder, Just Mateen, began to develop feelings for her. The pair started dating, but when they broke up, Wolfe Heard said, “[he] became verbally controlling and abusive.”
In 2014, Wolfe-Heard sued Tinder in a Sexual Harassment case. Forbes stated when the case was settled, Wolfe Heard netted about $1 million.
The lawsuit garnered lots of media attention and some even put Wolfe Heard in a negative light. She said, "It’s easy to say, 'She asked for it,' or 'Oh, she was dramatic,' I think insecurities sometimes are extremely loud. The average person out there reading an article [about me] wants to say whatever they want. I know my truth and I know what really matters to me."
Wolf-Heard took all the hate that she received and transformed that into a successful billion-dollar business, Bumble. She told Business Insider, "I wanted to do something that would promote a responsible user online. There’s a lot of room to be negligent and nasty to each other," Wolfe says. "I figured, whatever I do next I want to narrow that down.”
Now just 7 years after Bumble’s launch, Forbes notes Whitney Wolfe Heard has been on the cover of Forbes, selected as a 2017 Forbes 30 Under 30, and is the youngest self-made woman billionaire after Bumble went public just last week on February 11th, 2021.
Photo Credit: Bumble
'BMBL' Going Public
Just last week on February 11th, according to CNBC, Whitney Wolfe Heard became the youngest female founder to take a United States-based company public. She told Fortune.com in an interview about being the youngest woman to take a company public, “It’s pretty surreal. And it really is a moment to celebrate. We’re excited to hopefully have this record be broken soon; we are very excited to cheer on the next woman who beats this record.”
Bumble, or known by their ticker symbol ‘BMBL,’ went public last Thursday morning with shares starting at $43 (which was higher than the target of $37 to $39), and by midday, the company’s stock was trading up 77% with shares being traded at $76. (CNBC and Fortune)
Throughout the day, the company sold 50 million shares and closed with a market cap of $7.7 billion (CNBC).
At the end of the day on February 11th, Bloomberg valued Wolfe Heard’s stake in the company at $1.5 billion.
Bloomberg states, “The listing caps a saga that’s both inspiration and cautionary tale for women tech founders. Wolfe Herd capitalized on an underserved market and built a multibillion-dollar company that was in a sense born from one of the most vexing obstacles to women entrepreneurs: sexual harassment.”
Photo Credit: Business Insider
Hollywood Branded's Work With Bumble
Hollywood Branded has had the opportunity to work with Bumble! Below you will find 3 of our Brand Integration Case Studies we have done with the company:
#1: Bumble x Book Club (Product Placement Case Study: App & Movie)
#2: Bumble x Riverdale (Bumble + Riverdale Product Placement Partnership)
#3: Bumble x ELLEN (BUMBLE + ELLEN BRANDED CONTENT)
Never Give Up
Whitney Wolfe Heard is an inspiration to not just female entrepreneurs, but everyone worldwide. She is one who took her struggles and turned them into a platform that has 42 million monthly users, had a revenue of $377 million during the first 9 months of 2020, and is now a publicly traded company. And if you put your mind too it, you will be able to succeed (and have your brand be featured in Hollywood’s top movies and shows – just like we did with Bumble).
I want to end with few quotes from Whitney Wolfe Heard, in case you are in need of some inspiration:
“Look at what is broken in society, figure out how to make it better, and then, around that, formulate a business”
“The power of lunch is no longer just for men. We all deserve a seat at the table.”
“I am a firm believer that the only person who can make you feel inferior is yourself.”
“When you accept the failure is a good thing, it can actually be a huge propeller toward success.”
Do you want to learn more about Brand Integrations? Check out other blogs written by our Hollywood Branded Team!
- COVID-19 Marketing: Leveraging Product Placement and Brand Integration
- Eight Of Post Malone’s Brand Partnerships
- Top Three Music Videos With Brand Exposure
- Top Brand Partnerships In ‘Dick Clark’s New Year’s Rockin’ Eve’
