Thursday, July 25, 2024
Business

How Does Bumble Make Money? – Bumble Business Model

Ladies first, that’s what the Bumble dating app is all about. If the lady doesn’t make the move first, you have no chance of getting her.

The trends are changing day by day so is the trend of dating apps. Bumble is the first dating app in the industry where ladies have to send the message first to initiate the conversation with the guy. That’s great, isn’t it? 

Always guys are the ones who approach the girls first. But in this dating app, the scenario is totally different. 

Guys don’t have any chance to approach girls first, it all depends on the girl. If she is interested in you, she will start the convo with you.

Bumble is a dating and social networking platform. This app has made the process very simple especially for women. That’s the reason it is way better than the Tinder or any other dating app.

Ok, now let’s talk business. So what is the business model of Bumble and how do they make money? Well, before that lets have a glance at the Whitney Wolfer story and the struggles she had to go through!

Whitney Wolfe Herd Success Story

Let’s look into a little bit about the success story of Whitney Wolfe Herd. Well, Bumble was launched in the year 2014 by Whitney Wolfe Herd. 

Wolfe wanted to make something different and not like any other dating app. If a man and woman match in the Bumble app, then only she can make the conversation within 24hrs. This option gave full control and it largely avoided unwanted content.

Wolfe was the former co-founder of Tinder. So what made Wolff leave Tinder? The reason is Tinder’s CMO (Cheif Marketing Officer) Justin Mateen. 

Wolfe and Justin had started dating one another and it resulted in a disaster as they broke up very soon. Later, Justin had started insulting and harassing wolf,e and Justin along with other founding group members made her to quit the company.

This is where the idea sparkled for Wolfe after all those drama with Tinder. She wanted to create a dating app which provides safety and secure space for women. 

That’s when the success road for Whitney Wolfe begins and had a blistering success within a short period of time. Within a year of Bumble’s Launch, it had made 80M matches and 15M unique conversations. That’s incredible!

At present, Whitney Wolfe Herd is the founder and CEO of Bumble. Bumble has recently gone public by raising a huge amount of $2.2B from investors. Check the below tweet from the CEO itself.

The fact is, not only women make the first move in the app but the whole bumble company is led by almost 80% of women employees and out of its 11 board members, 8 members are women! That’s very interesting.

Bumble generates 97% of its revenue from premium subscriptions and in-app purchases and its other revenue comes from advertising and partnerships.

At present Bumble has more than 1.3M paying users with each user paying approximately $25 per month. 

How Does Bumble Make Money 

The business model of Bumble is simple. Users register on the App and if both gets matched and if the girl is interested she can text the guy and later if both feel comfortable with one another they can go on for dating. 

And this is how bumble works and all the core feature of Bumble are free to use.

But not all features are available for free. So that’s where premium features come into the picture. To avail the premium feature users have to pay a certain amount of money and that’s how bumble makes money and generates revenue.

Bumble Boost

With bumble boost you can rematch with expired matches, you can get more time to match with others and see who has already liked you.

You can get the bumble boost for a day, a week, 1 month, 3 months, 6 months or for a lifetime! 

A weekly boost will cost you $2.99 and a lifetime boost will cost you $54.99. The cost basically depends and varies on the region or the country you are in. So this is one way how bumble makes money from their platform.

Bumble SuperSwipe

You can make a first impression if you really liked someone on bumble app with the help of superswipe. 

Swipeswipe will make them see you first before they see anyone else. You need bumble coins to get the superswipe and each bumble coin will cost you $0.79.

Bumble Spotlight

Bumble spotlight will help you to make your profile visible to more people in your area instantly. This will make your profile visible at the top for 30 minutes. To get the spotlight you need 2 bumble coins. 

SuperSwipe and Spotlight are being used frequently by users and its the major source of income for bumble.

Premium feature of bumble will help you to search with unlimited filters, unlimited swiping, extend matches by 24 hours, and many more which you can check out on their official Bumble website.

Bumble App Features

Bumble Date

It is the primary or main feature of the Bumble App wherein a woman and man match with each other and go on for a date and have a relationship. 

The same feature works with Tinder as well but the only difference in Bumble is that women will make their first move.

Bumble BFF

Bumble BFF(Best Friend Forever) this feature will help you to meet new people in your area. If you are looking to expand your social circle then this feature is for you to build meaningful friendships.

Bumble Bizz

Bumble Bizz is for professional who wants to connect with each other and grow their network. You can use Bumble Bizz to find new career opportunities and to build relationships with like-minded people.

In Bumble Bizz and Bumble BFF any person can make their first move.

Hope you had a clear idea about the business model and how much does bumble make from their premium users.

Ending Thoughts

At present the company is valued at $14 Billion!

It’s not about Bumble’s premium features that sets it apart from other dating apps. It is the convenience which the app offers for women by allowing only them to start the conversion first or as the Bumble says “women make the first move”! 

At just 31 years, Whitney Wolff Herd has become the world’s youngest self-made billionaire. The success for Wolfe hasn’t come without facing a lot of struggles in her life. It’s how you overcome that and then plan and execute your business is what makes you successful.

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