Match Group tried to acquire Bumble for $ 450 million – TechCrunch

Match group, the parent company of a variety of dating apps, has offered to acquire buzz for $ 450 million over the summer, according to sources familiar with the deal.

A source close to the company suggests Bumble is valued at over $ 1 billion.

Sources independently confirm report of Forbes about the deal earlier this summer.

Bumble would have 18 million registered users, and has facilitated over a billion matches since its launch. Match Group, meanwhile, is the parent company of apps like Tinder, PlentyOfFish, OkCupid, HowAboutWe, and, of course,

Considering the growth of Bumble – the app reached 1 million users within a year of launch – the app appears to be a reasonable target for Match Group’s growing portfolio of dating / matching services. Bumble is also known to be forward thinking when it comes to building a community around a dating app – for example, the startup has opened a physical space in New York this summer serve as a meeting place for IRL matches.

However, there is a strange irony in Match’s offering to Bumble given that the two companies haven’t always existed in e-Harmony.

In 2014, when Match Group was a branch of IAC, Whitney Wolfe, founder and CEO of Bumble. sued Tinder and IAC for sexual harassment and gender discrimination. Complaint alleged Tinder chief marketing officer Justin Mateen subjected Wolfe to numerous “sexist, racist and otherwise inappropriate comments, emails and texts” during his time at the company as vice president of marketing and co-founder, which followed a split between Mateen and Wolfe.

Tinder / IAC and Wolfe settled the trial amicably, without admission of wrongdoing on either side.

In December 2014, Wolfe (with investment from Badoo founder Andrey Andreev) recruited Tinder co-founder Chris Gulczynski and former Tinder VP of design Sarah Mick to launch a new app called Bumble. The idea behind Bumble was simple, and a subtle cast of shadow over his former workplace: On Bumble, women are the chasers. Both men and women can sweep at their leisure, but only women can strike up the conversation, putting them in control of their romantic digital endeavors. Badoo and Andreev would later acquire a majority stake in Bumble.

Bumble has since launched Bumblebff (a service to help people meet new friends) and Bumblebizz (which helps professionals find their next job), alongside setting up monetization with paid features.

In response to a request for comment, Match said “we do not comment on rumors and speculation.” Bumble declined to comment.

Source link

Previous Dating Apps Turn Search For Love Into A Video Game, And A Lot Of People Lose - CBSN Originals Documentary
Next The 13-year-old activist who took charge of the water crisis in Flint