Bumble

Dating app company Bumble has lowered its revenue forecasts through the end of the year, signaling that the boost from pandemic dating might be over.

Bumble adjusted its annual revenue to be between $920 million and $930 million for the year, lower than previous forecasts and market estimates of $934-$944 million. The company’s stock fell 13 percent after the news according to Reuters.

This news follows that of competitor Match Group, which also fell short of expected earnings for Q2. In the wake of the downturn, Match Group announced the lowering of its projected revenue for Q3, with a company shake-up that included halting development for metaverse dating and virtual currency and a restructuring of its executive leadership. Match Group’s stock also took a hit, dropping 20 percent in value after the company released its letter to shareholders.

Bumble Gender Options

Image: Bumble

In response to recent criticisms from its non-binary users, Bumble has announced changes to its app to create a better, more inclusive experience.

According to NBC News, Bumble has now updated its gender preference options to include non-binary as its own category for dating profiles. When a user chooses, they are prompted to “add more.” For example, a user identifying as a woman can choose from trans, intersex woman, transfeminine and cis woman, among others. Men can choose from intersex man, trans man, transmasculine, etc. If a user doesn’t identify with any descriptor on the list, they can add their own. Nonbinary users can choose from numerous descriptors, including bigender, genderfluid, gender questioning, and pangender among others.

Prior to this change, Bumble tested a pilot feature where users could choose non-binary as an option for gender preference, but this option was listed under the “male” and female” gender options, one of which had to be selected first.

Image: Bumble

Dating app Bumble is rekindling its “Stand for Safety” initiative in India to help combat online abuse.

According to Business Today India, the company released a guidebook created in partnership with the Centre for Social Research (CSR), a non-profit, and Nyaaya, an open-access digital resource center that educates people about their rights. The guide will “drive awareness around digital safety and support the community in recognizing and combating online abuse, bullying, and discrimination.”

Bumble decided to relaunch the initiative after conducting a survey across India on the scope and effects of online harassment. The company found that 50 percent of respondents had seen hateful online content, and around 40 percent have faced hate speech and bullying in regard to their particular community, or to their physical appearance.

Bumble is focusing beyond its popular dating app and adding a new social networking feature to its BFF platform.

Bumble BFF uses the same swipe-based matching found on the dating app, but will expand options for users to include networking groups where they can connect and chat with each other based on topics of interest, according to Tech Crunch. Bumble had hinted that it was testing this new feature and it was “doing well,” according to its first quarter earnings call.

While Bumble CEO Whitney Wolfe Herd didn’t offer many details about the new feature on the call, she did describe it was a way to help “people to discover and get to know each other around shared joys and common struggles.” She also noted that over 40 percent of “active BFF users” were checking out the new feature and the various networking groups, sharing that its one-month retention was more than 75 percent, according to Tech Crunch.

Shares of dating company Bumble Inc rose 11 percent after news of the company’s earnings were released, with revenue beating analyst expectations.

According to Reuters, the number of total paying users across Bumble properties increased by 7.2 percent to 3 million during the first quarter of this year, increasing revenue to $211.2 million, surpassing analyst expectations of $208.30 million. Bumble apps include its signature apps, Badoo, and French dating app Fruitz among others.

Research firm Apptopia also found that Bumble downloads in the U.S. increased 20.6 percent during the first quarter, and monthly average users rose 13.7 percent compared to the same quarter last year.

Many dating app users have complained about getting unsolicited nude photos, and are now demanding digital consent before a communicating with a match.

Dating apps have been struggling with what to do about this issue for a while, but since the pandemic attracted many new users to dating apps, the problem has grown. According to The New York Post, A World Wide Web Foundation survey found that 52 percent of young women and girls said they had experienced online abuse, including threatening messages, sexual harassment and being sent lewd photos without consent. A whopping majority of 87 percent said they believe the issue is only getting worse. 

Dating app Bumble launched a feature called Private Detector to counteract this problem. Private Detector works with AI to detect when a nude photo is sent and blurs the picture before the recipient can see it, allowing them to block and report the user without having to see it first.