Bumble

Dating app Bumble set the terms to raise as much as $1 billion for its initial public offering. The company is expected to make its stock market debut later this month.

According to Bloomberg, Bumble plans to sell a total of 34.5 million shares for $28 to $30 per share to reach its goal. This information was disclosed earlier this week in a filing with the Securities and Exchange Commission. If shares go for $30, Bumble would be valued at over $6 billion including debt after the listing, according to Bloomberg. This is based on the outstanding Class A shares in its listing document.

A new investment scam targeting dating app users has been detected by Interpol, according to ZDNet.

The International Criminal Police Organization (Interpol) issued a “purple notice” to 194 member countries, describing a new money-making scheme on dating apps, according to ZDNet. Interpol stated that the scam “takes advantage of people’s vulnerabilities as they look for potential matches, and lures them into sophisticated fraud scheme.”

The scammers have set up fake profiles in apps like Tinder, Bumble, and eHarmony, and match with users who don’t know they are scammers. The scammers then message their targets pretending to be interested in them romantically in order to build trust, occasionally giving them investment “tips” to turn the conversation towards money.

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 users are advertising when they have received the COVID-19 vaccine in the hope of capturing more matches.

As more people are able to get vaccinated, it has become a selling point for singles who are eager to date in person again. Healthcare workers, grocery store clerks, politicians and teachers are all in the front of the line to get the vaccine, along with other at-risk populations, and many of them are using dating apps to share their vaccine status. 

According to Vice, people are sharing details in their profiles for maximum visibility, like when they got their last vaccine or if they are still waiting for the second shot.

Washington D.C. has increased its National Guard presence since the riots at the Capitol on January 6th, and these troops are turning to Tinder to find love while they work.

According to Newsweek, there have been reports on TikTok that Tinder has been flooded with photos of men in uniform, which is highly unusual for the Washington D.C. area. While these officers are sharing photos in their fatigues, they are also sharing interests like traveling and video games, according to Newsweek.

People are taking to social media to point out this trend, noting how many more military people are showing up as potential matches. In fact, some users in the DC area said the majority of profiles they see are members of the National Guard. Even a reporter for Sports Illustrated noticed the increase in these profiles.

Earlier today we posted about Lumen shutting down even though the Lumen FAQ mentioned they had a lot of subscriptions which is an indication that the dating service was catching on. In the same article we also mention that ever since Whitney Wolfe Herd became CEO of Magic Lab, the company has been going through a lot of changes.

These changes have them consolidating their brands and re-branding Magic Lab, the holding company for their dating brands, which include Badoo and Bumble, to just "Bumble" (we think...). It is not clear what the name may actually be. Some articles from major media outlets have suggested the name is Bumble Group but the only place that name is mention on the Bumble website is in their Terms and Conditions.