Bumble

Image: Bumble

Dating app Bumble is dipping into politics again, this time in the U.K. The company has joined forces with Grazia magazine, UN Women UK, and celebrity Amy Hart to encourage legislators to change the proposed Online Safety Bill (OSB), which deals with the issue of cyberflashing.

The proposed bill’s language includes determining whether the cyberflasher (the person sending unsolicited nudes to someone without their knowledge or consent) had harmful intent, which Bumble says would be difficult to prove. Critics say that this also gives a lot of room for the accused to claim they sent these images as a “joke,” according to AOL.com.

In March, Bumble issued a press release acknowledging the milestone that the UK government agreed to make cyberflashing a criminal offense under the OSB. In the same release, they advocated that “to drive societal change, any new law must be based on non-consent.” The company argued that instead of focusing on the intent of the sender, the law should be focused on whether or not the recipient gave prior consent. 

Dating app Bumble has partnered with Gymshark to create a UK-based ad campaign centered around fitness, a popular first date activity among younger daters.

According to The Drum, the campaign focuses on compatibility for singles, and how they can bond more easily over shared interests. “For Dates That Workout” includes new interest badges that users can add to their profiles, including weightlifting, HIIT and bodybuilding, which were chosen by Bumble based on what’s most popular with Gymshark members. Yahoo! Life noted that the most popular workout activities for Bumble dates were running, and HIIT, yoga and Pilates classes.

Bumble found that 22 percent of Gen Z and millennials have exercised or attended a fitness class on a first date, according to The Drum. This has been especially popular since the pandemic, where meeting for drinks has taken a backseat to more active dates. According to their research, 32 percent of singles have attended a fitness class with the intention to meet someone.

Australia’s Communications Minister Michelle Rowland has ordered the country’s top ten dating app services to hand over information on sexual violence reports, including Tinder, Bumble and Grindr.

According to Australian Associated Press, the information will include reports on “the extent of harm being experienced by users” as well as the safety protocols of these apps. Rowland has also requested data on the number of reports the app companies have received in regard to sexual harassment and abuse among users on these platforms, including during a message exchange or after a date.

Each dating app company is also required to share its protocols for preventing banned users from returning to the app under a new name and account, as well as the actions it has taken in response to reports, including police referrals or other services provided to users, according to AAP.

India is now among the fastest-growing dating app markets worldwide, thanks to a growing young population of singles and their changing attitudes towards dating.

In terms of year-over-year growth, India emerged as the fifth largest market in dating app spending in 2022, according to a new study by data.ai Intelligence. Researchers found that Indian users spent $31 million more in 2022 than they did in 2021 despite economic factors like inflation that affect consumer spending.

Match Group, Bumble, and other major dating app companies have made a big investment in India, hoping to capitalize on this attractive market which now brings in millions of dollars in revenue each year to dating app companies.

Dating app company Bumble Inc announced a secondary stock offering by majority stockholders Whitney Wolfe Herd, Bumble’s founder and CEO, and Blackstone. The price set for the secondary offering is at $22.80.

The price of Bumble stock fell 7 percent after this announcement, and after news that the previously announced 12.5 million secondary shares the company was originally going to sell went up to 13.75 million shares. Blackstone offloaded about $313 million in their stake in Bumble at the $22.80 share price, below the previous day’s closing price of $24.54. Another $47 million in stock “has been earmarked for over-allocation purposes,” according to Investing.com.

Blackstone offloaded the majority of shares, with Wolfe Herd cashing out just under $2 million in her shares of the company.

Bumble surprised investors and analysts with its latest earnings report, which showed better-than-expected revenue in the last quarter of 2022. Shares of the company’s stock rose about 2 percent as a result.

According to Seeking Alpha, Wall Street analysts had expected fourth quarter revenue to reach only $235.9 million, but the company reported revenue of $241.6 million, up from $207 million in the same quarter the previous year.

Bumble also reported 3.4 million paying users during the fourth quarter of 2022, compared to 3 million in the same quarter of 2021. Total average revenue per paying user was about $23.01 for the fourth quarter of 2022, compared to 22.68 the year before.