Milestones

Bumble Inc. made its IPO filing public Friday January 15th, following rumors that the company would go public in time for Valentine’s Day. The app is expected to list on NASDAQ under the BMBL ticker.

According to The New York Post, Bumble reported revenue of $488.9 million in 2019, and $376.6 million in revenue between January 29 and September 30th of 2020. (Fourth quarter results have not been reported.) The pandemic has helped fuel dating app sign-ups and activity, with people using them to connect in a time of social distancing. Bumble offers an in-app video chat feature, which has been incredibly popular the last several months as people were in lockdown.

Dating app Bumble is looking to make its stock market debut in February, likely in time for Valentine’s Day, according to a report from Bloomberg who broke the news.

The female-forward dating app was rumored to be planning its IPO for 2021, but there was no date or even timeframe specified. The company is backed by investment firm Blackstone Group, and according to Bloomberg, has already confidentially filed with the Securities and Exchange Commission to go public. In 2019, Blackstone acquired a majority stake in what was known as MagicLab, now rebranded as Bumble, which owns the Bumble apps and Badoo among other dating apps. At the time of the purchase, MagicLab was valued at about $3 billion.

Image: Tinder

Dating app Tinder released its annual report The Year in Swipe, and found that while the pandemic dominated the year, dating apps benefitted with an increase in subscriptions and user activity. 

While many singles were stuck at home they chose to connect virtually, with messages and swipes up by double digits compared to back in February, according to Inside Hook.

“Travel” was the most-used term this year, especially around March and April when the first lockdowns began and people had to cancel their plans. Also popular in 2020 were pandemic-related ice breakers, with many using the phrase “quarantine and chill” and discussing mask wearing habits and protocols with their matches.

BLK, a dating app specifically for black daters, has become one of the fastest-growing apps in the Match Group suite of dating apps. Match Group currently owns a substantial portion of the dating app market, including Tinder, OkCupid, Plenty of Fish and Hinge among others.

According to The Grio, during the first two weeks when COVID-19 was spreading and people were sheltering at home, BLK saw an 18% increase in daily activity. Now seven months into the pandemic, there is a 38% increase in activity month over month. BLK launched in 2017, and since has grown to over four million users. 

Facebook has announced the launch of Facebook Dating in Europe and the U.K. following a nine-month delay from its original debut, which was scheduled for Valentine’s Day.

The new service is part of the larger Facebook Platform, and operates much the same as it does in the U.S. and other parts of the world, according to Tech Crunch. Users can pull photos and Stories from Instagram to populate their profiles. They can also use the Secret Crush feature to identify Facebook friends and Instagram followers that you are interested in without them knowing. If you both choose each other, then you are matched and can begin chatting – otherwise, your secret crush will never know you chose them.

The online dating market is booming, and is expected to grow to $9.9 billion by 2026, thanks to leading apps like Tinder, Bumble, eHarmony, Hinge and other popular platforms.

New research by Market Growth Insight shows that the dating services market’s expected goal of $9.9 billion in 2026 is up from $6.7 billion in 2018. The dating market continues to grow with a CAGR (compound annual growth rate) of 5.2% to achieve that marker. Of this, North America contributes to 37% of that growth, but Asian markets are quickly picking up speed.