Bumble Appoints a New CEO After Shares Fall 80%

What we’re showing

Stock chart of Bumble Inc., the company behind popular dating app Bumble. The app is unique in that only female users can make the first contact when a match is made.

Key takeaway

Bumble’s IPO benefitted from the booming stock market of 2021, but the company has since struggled to meet expectations. Its new CEO, Lidiane Jones, is currently the CEO of Slack Technologies.

Context

• Before founding Bumble, Whitney Wolfe Herd was a VP of Marketing at Tinder.
• Bumble’s IPO made her the world’s youngest self-made female billionaire in 2021.
• At 31, She was also the youngest female founder to ever take a U.S. company public.