Bumble

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.

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.

Scammers stole more than $1.4 million from users of popular dating apps like Tinder, Grindr and Bumble, among others. Dubbed “CryptoRom” by cybersecurity research firm Sophos, the attackers feigned romantic interest with victims to build trust, and then lured them into downloading fake cryptocurrency apps.

According to reports, these scammers used Apple’s Enterprise Development platform to push the fake cryptocurrency apps, which gave the victims a sense that they were legitimate, but in reality, this allowed scammers to bypass the normal app review process. 

The CryptoRom attackers set up fake profiles on dating apps and strike up conversations with users, later moving them to messaging apps. After a time, the subject of cryptocurrency is introduced into the conversation, and the scammer asks the victim to install the fake crypto trading app to make an investment. At first, the victim makes money and is allowed to withdraw from their account, providing a false sense of security. Soon after, they are asked to make a more substantial contribution, and if they do, the scammers not only refuse their withdrawal requests, but blackmail them to invest more and take the money they already paid if they refuse.

Dating app Bumble has awarded new grants to three female leaders as part of its Moves Making Impact program, which honors female leaders taking on some of the greatest challenges the world faces today. 

Bumble’s “cause” feature, which funds the program, was introduced to bring attention to women who are making a real impact in their communities and the larger world, and to inspire and empower women using the app. When setting up a profile, Bumble users are prompted to choose a cause that is important to them – like public policy, human rights, or economic development, and each time you send someone a message on the app, Bumble will make a donation to a woman doing that work in her community.

The company announced the newest recipients of the fund, which focuses on human rights, women’s health, and inclusivity in art and culture. In total, Bumble has donated to eighteen female leaders through Moves Making Impact, along with Vital Voices Global Partnership.

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.