Recently, Whitney Wolfe turned down a $450 million acquisition offer for her dating app Bumble. Match Group, the group that owns a number of dating platforms, including Tinder, OkCupid, and Match.com, made the offer. Whitney, who previously worked for Tinder, founded Bumble in late 2014, just months after quitting her position as partner at Tinder. Match Group made the offer about two months ago.
According to a source, the $450 million offer appeared to have under valued Bumble. This is because the platform is quickly expanding and has managed to set itself apart in the crowded dating app market. The platform has a unique ‘women-first’ branding and functionality. When two heterosexual members match, it is only the woman who can make the first move. This unique functionality makes the platform quite valuable both to users and the industry. Wolfe believes that Bumble has a higher value than $450 million. This information was originally mentioned on Forbes as provided in this link http://www.forbes.com/profile/whitney-wolfe/
When contacted for a statement on the said offer, both the companies refused to divulge any information. Match Group referred to the claims as rumors and speculation, thus they could not comment on them. On the other hand, Bumble said, ‘We cannot Comment.’ Many market players were keen to watch how the deal would have played out. Notably, Whitney Wolfe sued Match Group three years ago. Success of the deal would have seen her return to the shadows of the company’s umbrella.
About Whitney Wolfe
Whitney Wolfe is a renowned entrepreneur, business executive, and technology solutions expert. The chief executive officer of Bumble co-founded Tinder in 2012, at the age of 22. For two years, she rendered her services as the company’s vice president of marketing before quitting in 2014. Wolfe is credited for transforming the startup into a viral sensation.
After leaving Tinder, Whitney Wolfe founded Bumble. In a period of two years, she had managed to monetize the platform. Wolfe achieved this objective by including additional premium features. Subscription to the features cost $9.99 a month. Wolfe continues to expand the platform by introducing other functionality such as the recently launched BumbleBFF. This feature helps women to meet friends and business partners within the Bumble app.