Magic Lab Information, Statistics, Facts and History

Facts Summary for Magic Lab

Magic Lab Logo
Headquarters:
London, United Kingdom [2019 #4]
Business Started:
2019
Brands & Partnerships:
4 (2019). Badoo, Bumble, Chappy, and Lumen
Employees:
NA
Main Service Areas:
United States, Canada, United Kingdom, Australia, Russia, International (190 countries)
Number of Paying Members:
NA

Magic Lab History Summary

Magic Lab is a holding company started in 2019 by Andrey Andreevh and in partnership with a number of dating brands he has founded and invested in. This includes Badoo, Bumble, Chappy, and Lumen. These 4 dating service combined have over 500 million users worldwide. The group of dating services also share in resources including component-based technology infrastructure and employees.

Magic Lab also has committed $100 million to identify, recruit and support the next generation of dating products and their founders visions. The money will be used primarily for marketing and brand incubation.

Related Statistic Pages

Magic Lab Facts By Year

2019

  • General Information
    • Andrey Andreev and his partners form Magic Lab as a holding company for Badoo, Bumble, Chappy and Lumen. [1]
    • Forbes did an expose on Andrey Andreevh and Badoo claiming a lengthy history of workplace misconduct, including sexism, racism, drug use, wild parties and a possible tax evasion scheme which Andreevh denies. [2]
    • The voice and video call feature is currently being added to Magic Labs suite of dating apps. It is currently available on Badoo and Bumble, coming soon for Lumen and Chappy. [3]
    • Magic Lab owns 79% of Bumble (valued at more than 1 billion USD). Andrey Andreev has bankrolled the company from the beginning. [4]
    • Magic Lab is headquartered in the United Kingdom. [4]
    • Most of the technology for its different brands of dating apps is developed at Magic Labs in London. [4]
  • Finances
    • Andrey Andreev commits $100 million to Magic Lab to identify, recruit, and support the generation of dating services. [1]
    • Magic Lab saw earnings skyrocket at the end of 2018 to about 270 million pounds, up 51% from the year before. In 2019 quarter 3, Magic Lab reported a loss of about 4.8 million pounds. [4]
    • Magic Lab is rumored to be preparing for a US IPO. [4]

References

  1. Owner of Badoo and Bumble Launches New Parent Company Magic Lab
  2. Badoo Employees Reveal Toxic Work Environment in 'Forbes' Expose
  3. Bumble Introduces In-App Video and Voice Calls
  4. Bumble CEO Receives Over 4 Million Pounds from Magic Lab Dividend

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Last Updated: Friday, October 25 2019 @ 12:02 pm| Hits: 280 View Printable Version