CEO Whitney Wolfe Herd will become one of the youngest women in tech to break the glass ceiling
Female-led app developer Bumble is set to debut on the stock market amid growing demand for dating apps in the era of social distancing. The company is now preparing for its listing on Nasdaq.
Bumble takes on a decidedly “female-focused” approach to dating and social networking. Founder and CEO Whitney Wolfe Herd – who is also co-founder of the popular dating platform Tinder – set out to create a network where women would be empowered to find their ideal partner and “make the first move”.
Wolfe Herd said she sees a “major opportunity” in the tech space to “make dating healthier and more equitable around the world, not only for women, but for people across the gender spectrum”.
Read more: Wall Street CEO shares ‘game-changing’ career advice
By September 2020, the platform amassed a following of more than 42 million – with 2.4 million paying customers – and has further branched off into different networking sites: Bumble BFF for finding friends and Bumble Bizz for professional networking.
At the helm, women make up the majority of Bumble’s board of directors, while its CEO will also become one of the youngest female tech mavens to break the glass ceiling.
The women-centric leadership team has also been instrumental in guarding the platform against misogyny, violence and obscenity towards women.
Read more: 'Challenging and lonely' path of women CEOs slowly gets busier
Wolfe Herd herself is an outspoken advocate of women’s rights, particularly in building up protective measures against online sexual harassment.
“Our long-term vision is to be the platform to meet new people, no matter what you might be looking for, whichever life stage or situation you’re in,” the CEO said in its filing.
“We will do this with our innovative technology – and by advocating for equality, both through legislation and with the power of our trusted brand.”
The initial public offering is set to take place next month, around Valentine’s Day. While Bumble faces stiff competition from Tinder, OKCupid, Match and even Facebook’s own dating platform, the company is striving to create a safer space for users in the long run.
