Lumen

In a not a so surprising move Lumen's parent company Bumble (which was called Magic Lab at one point) has decided to close Lumen down and move all users to Bumble. Lumen was a dating service designed for singles 50 years and older. On November 23rd November 2020 Lumen was fully shut down and access to the service was cut off for all users.

The reason this was not a surprise is that early in 2020 Chappy a dating app for gay singles was also shut down by Bumble. Ever since Bumble's founder Whitney Wolfe Herd took over as CEO of Magic Lab she has been reshaping the holding company and their brands.

Bumble's Whitney Wolfe Herd

Female-forward dating app Bumble announced a major rebrand for the company as it also celebrated its milestone of reaching 100 million users worldwide. Parent company Magic Labs, which also owns popular dating app Badoo as well as Lumen and Chappy, will now be called Bumble under the direction of CEO Whitney Wolfe Herd.

Together, the Bumble and Badoo apps have a total of 600 million users around the world. Bumble’s app hit its milestone number in July and will look to Badoo for help in expanding its global reach. 

Wolfe Herd took over a year ago as CEO of Magic Labs when former CEO Andre Andreev left in the wake of allegations of sexual misconduct at Badoo, the app company he founded, which employees said contributed to a hostile work environment. Herd’s vision is to be more diverse and inclusive when building dating apps and her companies, and to put social justice and gender equality front and center. Wolfe Herd oversees over 750 employees in Austin, London, and Moscow.

Boomers are looking for love and increasingly turning to dating apps to do it. But Tinder isn’t necessarily what they are looking for.

BBC reported that the demographics with the biggest growth for dating app usage are 18-24-year-olds and those over 50. Between 2013 and 2015 when Tinder began to take off, online dating tripled for the younger demographic and doubled for those aged 55-64, according to Pew Research Center.

However, older daters were finding obstacles in using popular apps like Tinder that continue to cater to young users. For example, when Tinder launched its premium paid service, the company charged significantly more for older users, which caused an outcry. Some dating apps don’t let people over 50 sign up at all, so boomers were either having to lie about their ages or look for another platform. 

Bumble founder Whitney Wolfe Herd has secured a 4 million pound dividend payout from parent company Magic Lab, who saw record earnings thanks to its star dating app.

According to The Telegraph, the Bumble windfall is the result of a dividend payout of 20 million pounds from its parent company, and Herd owns about 20% of Bumble. Magic Lab saw earnings skyrocket at the end of 2018 to about 270 million pounds, up 51 percent from the year before. This quarter, the company reported a loss of about 4.8 million pounds.

Bumble’s revenue made up about 48 percent of Magic Lab’s overall business.

Andrey Andreev, who owns popular dating apps Badoo, Bumble, Lumen and Chappy, has created a new holding company called Magic Lab.

Magic Lab seems to be positioning itself to compete directly with Match Group by offering a similar setup: a suite of diverse apps aimed at different dating markets. However, Magic Labs stated how it plans to distinguish itself in its company mission, taking aim at dating app culture overall: “The brands will focus on marketing to solve societal issues such as misogyny, stereotypes, self-doubt and ageism.”

Dating app Lumen is coming out strong for the over 50 online dating market. It has already achieved one million downloads in just eight months (Android and iOS). In June, the company announced the launch of an international campaign dubbed “50 is just the start,” partnering with over-50 dance group The Silver Classix Crew in its ads.

The dance group performs in costumes that hide their identities, so they could be mistaken for much younger dancers. The end of the ad has them removing their masks to reveal performers with gray hair and other signs of age, meant to make viewers question their preconceptions of what “older” means. The ad will air in various global markets on both broadcast and digital platforms like Comcast and Hulu, according to website Campaign US.