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Bumble Inc (NASDAQ: BMBL) Stock Overview

TABLE OF CONTENTS

Bumble Inc (NASDAQ: BMBL) Stock Overview

Bumble Inc (NASDAQ: BMBL) Stock Overview

Vantage Updated Updated Mon, 2024 March 25 08:00

What is Bumble Inc? 

Step into the world of Bumble Inc. – a company that is transforming the dynamic world of modern connections. In a landscape where dating and networking meet technology, Bumble Inc. stands out as a dynamic force for various reasons including the women-first approach which is a highlight feature which sets them apart from traditional co-ed dating apps. Bumble Inc. has soared beyond conventional boundaries to empower its users through a suite of platforms designed not only to spark romantic flames but also to foster new friendships and professional opportunities. Explore Bumble Inc.’s platform while analysing its market performances and key factors influencing its share price.  

Key Points 

  • Bumble Inc., founded by Whitney Wolfe Herd in 2014, revolutionised dating with its women-first approach, expanding into friendship and professional networking by 2017, despite legal challenges and leadership changes. 
  • Bumble went public in February 2021, demonstrating resilience and innovation in empowering users and fostering connections, even amid CEO Whitney Wolfe Herd’s departure in January 2024. 
  • Bumble’s stock has fluctuated, peaking in February 2023 but declining into 2024, underlining challenges from competitors like Match Group and emphasizing the need for strategic growth and diversification. 

History [1] 

Bumble Inc. was founded in 2014 by Whiney Wolfe Herd, a former co-founder of Tinder. Herd’s vision for Bumble was to create a dating app that would challenge traditional gender dynamics by giving women the power to initiate conversations. With a “women-first” philosophy, Bumble allowed only women to initiate conversations in heterosexual matches, flipping the script on traditional gender dynamics. This fresh approach quickly garnered attention and set the stage for Bumble’s journey.  

Following the success of Bumble’s dating mode, the company ventured beyond romantic connections. In 2016, Bumble BFF was introduced, acknowledging the need for meaningful friendships in the digital age. This expansion was met with enthusiasm, showcasing the platform’s adaptability. In 2017, Bumble Inc. continued to broaden its horizons with the launch of Bumble Bizz, a platform dedicated to professional networking. By the end of 2017, Bumble had amassed more than 22 million users and was valued at more than $1 billion [2].  

Amid its growth, Bumble Inc. faced legal challenges in 2018 when Match Group, Tinder’s parent company, filed lawsuits against the company. Accusations of patent infringement and trade secret misuse led to a multi-year legal battle. Bumble, however, stood its ground, countersuing Match Group for alleged business interference and employee harassment. This period showcased Bumble’s resilience in the face of adversity.  

In a momentous step, Bumble Inc. went public in February 2021 with its initial public offering (IPO) under the symbol BMBL. The IPO marked the company’s financial success and its influential role in shaping digital connections. Bumble’s journey from a dating app to a global social networking force highlighted its commitment to empowering women, promoting respectful interactions and offering a range of platforms catering to various relationship types.  

Today, Bumble Inc. stands as a testament to innovation and adaptability in the tech world. Its platforms have transcended borders, connecting individuals across diverse cultures and contexts. With its unwavering focus on empowerment, safety and meaningful connections, Bumble Inc. continues to shape the way people forge relationships, whether romantic, friendly, or professional. As the company evolves, it remains committed to its mission of fostering positive social impact and reimagining the landscape of human connections in the digital era. 

Bumble’s Share Price 2024

Here is how Bumble’s company has been performing on the stock market for the year 2024: 

Chart 1: Bumble’s Share Price performance for the year 2023 (https://www.tradingview.com/x/QYku2zZf/)  

Bumble’s highest closing price was $27.09 on 7 February in 2023 and it has steadily declined throughout 2023 going into 2024.

Bumble Historical Annual Stock Price Data 
Year Average Stock Price Year Open Year High Year Low Year Close Annual % Change 
2024 14.0133 14.5000 14.5000 13.2000 13.2000 -10.45% 
2023 17.7195 20.4400 27.8600 12.9000 14.7400 -29.98% 
2022 26.8502 35.1300 37.9200 16.2300 21.0500 -37.83% 
Table 1: History of Bumble’s annual stock price 

When was Bumble listed? [3] 

Bumble Inc. was listed on the NASDAQ stock exchange on 11 February 2021, with the stock symbol BMBL. The company’s shares were valued at $43 during the initial public offering (IPO) and increased to $76 on the first day of trading, bringing the company’s value to over $13 billion. By November 2021, the company’s shares had fallen by 20% after a quarterly earnings report which posited a decline in user growth and users prepared to pay for its premium features.   

About the stock Bumble [4] 

Bumble trading information 

  • Primary exchange: NASDAQ 
  • Ticker: BMBL 
  • Country: U.S.  
  • Currency: USD 
  • Trading hours:  
    • Main: 9:30am to 4pm ET, Mon to Fri 
    • Pre-market: 4:00am to 9:30am 
    • After-market: 4pm to 8pm 
  • Sector: Technology  
  • Market capitalisation: 2.58 billion as of February 2024 

Dividend history and yield [5]  

Bumble, Inc, currently does not pay any dividends to their shareholders.   

Stock split history [6] 

Bumble Inc. has not undergone any stock split since its public offering (IPO) on 11 February 2021.  

What could affect Bumble’s share price? 

1. Competition [7]  

Bumble Inc. operates in a competitive landscape alongside dating apps like Tinder, Hinge and OkCupid. While Tinder boasts the largest global audience, Bumble distinguishes itself with its women-first approach and diverse platform, offering not only romantic connections but also friendships and professional networking opportunities. However, these competitors are not standalone entities; Match Group (MTCH.0), the parent company of both Tinder and Hinge, heightens the rivalry. Shifts in this competitive landscape have the potential to significantly impact Bumble’s financial performance. Particularly noteworthy is the competition from industry giant Match Group, which has introduced a variety of new features, including weekly subscription plans and enhanced engagement and privacy features on Tinder and Hinge.  

The impact of competition on Bumble’s share price is evident in historical instances. In August 2023, the company experienced a 4% decline in its shares following a forecast of lacklustre third-quarter revenue and an increase in expenses. Analysts speculated that heightened competition with Match, the owner of Tinder, contributed to concerns about Bumble’s business performance [8]

2. Company-specific factors [9] 

Bumble’s share price is susceptible to various company-specific factors, including financial performance, management decisions and market competition. Notably, the departure of CEO and founder Whitney Wolfe Herd from her role at the company on 2 January 2024 on serve as a potential red flag for investors. This event coincides with a subdued sentiment in the dating category over the past year.  

The departure of a key executive can have implications for investor’s confidence. When Herd stepped down, it raised concerns among investors, particularly given the overall subdued sentiment in the dating industry. This underscores the significance of company-specific factors in influencing Bumble’s share price.  

Why trade Bumble stocks [10]  

1. Diversified Portfolio with Strategic Acquisitions 

Bumble’s expansion beyond traditional dating apps showcases its ability to adapt to changing markets. The inclusion of Bumble BFF for fostering friendships and Bumble Bizz, a professional networking platform akin to LinkedIn, diversifies the company’s offerings. Additionally, the acquisition of the freemium Gen Z dating app Fruitz, popular in Europe and Canada, positions Bumble for substantial user growth in the U.S. and other targeted markets.  

2. Internal Expansion 

Bumble’s growth strategy extends beyond product innovation to include a robust focus on international markets. While enhancing the user experience domestically, the company is strategically eyeing expansion in Latin America, Southeast Asia and the EMEA regions for sustained multi-year growth. This approach aligns with the global nature of the online dating market and positions Bumble for increased market share.  

3. Resilience in the Growing Online Dating Market  

Bumble’s stocks could be attractive to investors given the strong trajectory of the online dating market. Projections indicate a compound annual growth rate of 7.4% in this market through 2030. With dating apps becoming integral to daily life, especially for younger demographics, Bumble stands to benefit from this cultural shift. Market research underscores the pervasive use of dating apps, revealing that a significant percentage of users, ranging from 18 to 44 years old, check these platforms multiple times daily [11].  

Trade Bumble with Vantage 

Vantage provides a secure and commission-free trading platform for a range of top US stocks, including Bumble (BMBL), through Contracts for Differences (CFDs). Enjoy the convenience of trading a diverse array of US shares without incurring any commission fees. Join us by creating a live account today and dive into the world of trading with Vantage!  

References

  1. ‘How Bumble grew from a female-focused dating app to a global behemoth valued at over $8 billion after going public – Business Insider’ https://www.businessinsider.com/bumble-dating-app-company-history-2021-ipo-2020-9#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-5 Accessed 15 February 2024 
  2. ‘Billion-Dollar Bumble: How Whitney Wolfe Herd Built America’s Fastest-Growing Dating App – Forbes’ https://www.forbes.com/sites/clareoconnor/2017/11/14/billion-dollar-bumble-how-whitney-wolfe-herd-built-americas-fastest-growing-dating-app/?sh=13543840248b Accessed 15 February 2024 
  3. ‘Bumble IPO Review – Gainy’ https://www.gainy.app/ipo/bumble-ipo-review Accessed 16 February 
  4. ‘Bumble Inc. Class A Common Stock (BMBL) – Nasdaq’ https://www.nasdaq.com/market-activity/stocks/bmbl Accessed 16 February 2024 
  5. ‘Bumble Inc. Class A Common Stock (BMBL) – Macrotrends’ https://www.macrotrends.net/stocks/charts/BMBL/bumble/dividend-yield-history#:~:text=Historical%20dividend%20payout%20and%20yield,26%2C%202024%20is%200.00%25 Accessed 16 February 2024 
  6. ‘Bumble Inc. Class A Common Stock (BMBL) – Macrotrends’ https://www.macrotrends.net/stocks/charts/BMBL/bumble/dividend-yield-history#:~:text=Historical%20dividend%20payout%20and%20yield,26%2C%202024%20is%200.00%25 Accessed 16 February 2024 
  7. ‘Bumble Stumbles Back Below $20…Should Investors Make a Move? – Nasdaq’ https://www.nasdaq.com/articles/bumble-stumbles-back-below-$20…should-investors-make-a-move Accessed 16 February 2024 
  8. ‘Bumble declines as higher expenses fan concerns about Tinder competition – The Star’ Bumble declines as higher expenses fan concerns about Tinder competition | The Star Accessed 16 February 2024 
  9. ‘Bumble (BMBL) Stock Trades Down, Here Is Why – Yahoo Finance’ https://finance.yahoo.com/news/bumble-bmbl-stock-trades-down-210300028.html Accessed 16 February 2024 
  10. ‘Bumble Stumbles Back Below $20…Should Investors Make a Move? – Nasdaq’ https://www.nasdaq.com/articles/bumble-stumbles-back-below-$20…should-investors-make-a-move Accessed 16 February 2024 
  11. ‘Bumble forecasts weak fourth-quarter revenue, shares fall – Reuters’ https://www.reuters.com/technology/bumble-projects-quarterly-revenue-below-estimates-2023-11-07/ Accessed 16 February 2024 
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