Statistics

Shares for Bumble Inc, which owns the popular dating apps Bumble and Badoo, fell more than twenty percent after the company’s third quarter earnings call in November. 

The dating app went public earlier this year, with shares taking off out of the gate. In recent weeks however, investors have cooled on the stock, and Bumble has pointed to pandemic lockdowns in strong markets like Japan which have cut into the company’s overall revenue. The latest dip after the earnings call was the stock’s lowest point yet. 

According to Forbes, for the first time since its IPO, Bumble posted a decline in overall user growth, with total paying users dropping to 2.87 million through September, down from 2.93 million in the second quarter.

Dating app Bumble had a rough third quarter, with total paying users down 2 percent from the second quarter. It was the first time the company saw a decline in its user base since going public in February of this year.

According to Reuters, total paying users fell to 2.9 million as the pandemic surge prompted new lockdowns in hard-hit countries. The company says the pandemic surge caused an overall drop in consumer spending on dating apps and in-app purchases. This news spooked investors and sent Bumble’s stock tumbling 9 percent, a 32 percent total decline since its IPO.

The company owns popular dating app Badoo which was hit especially hard due to its popularity in markets affected by the Covid surges. Badoo accounts for about a quarter of the company’s total revenue according to Barron’s.

Dating app conglomerate Match Group has lowered their expected earnings for Q4, according to an earnings call with investors. The company said the adjusted forecast resulted from decreased revenue in Asian markets due to the pandemic. Shares declined 6 percent with the news.

According to Reuters, Match Group adjusted fourth quarter earnings revenue between $810 and $820 million, below analysts’ forecast of $838.5 million per Refinitiv. The company expects revenue for 2021 to be around $3 billion.

In the third quarter, revenue rose 25 percent, but still missed expectations. Match Group added 16.3 million paid users and revenue per person rose 8 percent. Their quarterly earnings came out to $.53 per share, missing the Zacks Consensus Estimate of $.60 per share, and has dropped from earnings of $.55 per share a year ago.

Green dating is becoming a trend among UK daters, according to a new study by dating app Bumble.

In recent months, Bumble added a feature for daters to include values in their profiles, not only to highlight their priorities to other daters, but also to support a cause, including for environmental, social or political justice. Each time a user sends a message to another user, the company will donate to select organizations that work for these causes. 

According to Bumble, 27 percent of UK users selected “environmentalism” as their highest value.

The attitudes of Indian singles towards dating, sex and intimacy are changing as a result of the global pandemic. Interestingly, their parents’ attitudes are shifting along with them.

According to Mint, a recent survey of Bumble users pointed towards this cultural shift, with 34 percent of respondents from India saying they were “more open to exploration” when it comes to sex, ahead of users in the U.S., Australia, Canada and the U.K. This finding was part of a larger study of users across different countries taken over the summer, including over 2,000 participants from India.

A majority of Indians – 65 percent – said the pandemic has changed their approach to sex and intimacy. Almost one in three respondents (33 percent) said they have started living with someone they met on a dating app since the second wave of Covid hit India in March and lockdowns began, according to Mint.

Woman Tearing Down OkCupid Ad

Image: Twitter

Dating app OkCupid has responded to a viral video showing a woman tearing down posters of its new LGBTQ+ ad campaign “Every Single Person” from a subway train in New York. Two other passengers joined her in the effort, and one filmed and posted the rant.

The notably unmasked woman was reacting to the campaign’s bold images, featuring queer people, pansexuality, and people who identify as non-binary. As she tore down the signs, she claimed to be concerned about children seeing the images, saying that the ads were “affecting the next generation” and calling them “propaganda.”

She also called the images “disgusting” and said that it’s “not about equality, you guys…it’s about communism” with no additional context.