Bumble Launches Fund To Invest In Women-Led Businesses

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Bumble CEO Whitney Wolfe Herd

Over the last four years, Bumble has conquering dating, friendship, and business networking. Now the buzzy company has set its sights on a new arena: startup investments.

Bumble Fund is a new venture focused on early-stage investments for female-founded and female-led businesses. The fund will invest amounts ranging from $5,000 to $250,000 in companies that primarily serve women and are spearheaded by female leaders from diverse backgrounds.

“Investing in and empowering women in business is something that our founder and CEO Whitney Wolfe Herd is deeply passionate about and is at the very core of what Bumble stands for,” said Sarah Jones Simmer, Bumble COO, who will lead Bumble Fund’s investment strategy alongside Bumble Senior Advisor, Sarah Kunst. “Through Bumble Fund we’ll look not only to support those women leaders who have been largely ignored, but we’ll also demonstrate why those investments build smart, successful businesses.”

Tinder Launching a New Dating Service for College Students

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Popular dating app Tinder is rolling out a new service to attract a younger crowd. Tinder U is for college students, and gives users the option to match only with others at their school or at nearby campuses.

To use the service, customers must have a .edu email address and must also be geolocated on a college campus, according to website The Verge. Their Tinder U profile page will also include the name of their school, and when users swipe, their school logo will appear at the top of the screen, and their match’s school will appear in the bottom left corner of each profile. The app’s functionality is the same, with students viewing profiles and swiping left or right as they choose. It is important to note that using the Tinder U service will match students in the same area, regardless of whether they attend the same college or university. Members who join Tinder U will also be able to toggle between and use regular Tinder if they wish.

Tinder Employees Sue Match Group for $2 Billion

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Sean Rad, Co-founder of Tinder

Former and current Tinder employees slapped a lawsuit against parent company Match Group, claiming the popular dating app was purposefully devalued at the time Match Group was valuating stock options. The Tinder employees suing Match Group were placed on administrative leave, according to a report by MSN.

The ten former and current Tinder employees initiating the lawsuit include founder and ex-CEO Sean Rad along with co-founders Justin Mateen and Jonathan Badeen. Tinder’s VP of Communications Rosette Pambakian has also joined the lawsuit, and claims that IAC/ Match Group executive Greg Blatt sexually harassed her at a company party. (IAC changed its name to Match Group, but the company is still owned by media mogul Barry Diller.)

Pambakian wrote an email to Tinder employees explaining her decision, as reported by Fortune Magazine:

New Dating Study Reveals Everyone Wants A Partner Who’s Out Of Their League

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Online daters aim high when it comes to hooking up and finding love. According to a recent study published in Science Advances, both men and women aspire to date partners who are “out of their league.”

Researchers from the University of Michigan and the Santa Fe Institute analyzed heterosexual dating habits in four major U.S. cities – New York, Boston, Chicago and Seattle – using messaging data from a popular unnamed online dating service. The results of the study revealed that singles pursue partners who are, on average, 25% more desirable than themselves.

A person’s desirability was determined in part by the number of initial messages they received. The most popular individual in all four cities was a 30-year-old woman living in New York, who received 1504 messages during the period of observation, equivalent to one message every 30 minutes, day and night, for the full month of the study.

However, desirability is not just about the quantity of people contacting a user - the quality of people also matters. Those who receive messages from highly desirable people are presumably more desirable themselves. To account for this, the researchers looked at the aggregate desirability of those sending the initial messages using PageRank scores.

Ashley Madison Studies Reveal Partners Who Are Most Likely To Cheat

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Is your partner a doctor? A Libertarian? Obsessed with tattoos? If so, a series of surveys from married dating site Ashley Madison says they may be more likely to cheat.

As the world’s foremost experts in affairs, with more than 39 million users in 53 countries, the folks at Ashley Madison know a thing or two about infidelity. Several studies conducted by the company this year reveal the secrets of America’s cheaters, including who’s most likely to be unfaithful, what they’re attracted to when they do it, and which partners are most likely to forgive an adulterous indiscretion.

One survey determined the professions that are most likely to stray. The most common jobs for cheating women are in the medical field (nurses/doctors). “A combination of long hours of potential stress mixed with a natural reaction to stress just might be the reason these women in the medical profession seek out an affair,” reports Ashley Madison.

Match Group Sees $421 Million in Revenue for Q2

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Match Group, the parent company of popular dating apps such as Tinder, OkCupid, and PlentyofFish, reported second quarter earnings of $421 million, exceeding industry analyst expectations.

The rise in profits was thanks to its star app Tinder, which gained an additional 300,000 subscribers in Q2 alone, and has seen a record 3.8 million subscribers to date. Match Group expects to earn $1.72 billion this year, with Tinder expected to exceed $800 million in revenue, according to Fortune Magazine. Match Group’s subscribers for all apps total about 7.7 million.

“Retention and conversion were a bit stronger than we thought they would be,” Chief Executive Mandy Ginsberg told website MarketWatch.