Whitney Wolfe Herd is definitely an influence to many women looking to be successful in their industry. Whether the industry is technology, business, or some other industry in the corporate world, most of these industries are lead by men. Whitney Wolfe Herd said at her exclusive Power Lunch held in Manhattan, the Power Lunch is no longer just for men. The power lunch for the company Whitney Wolfe Herd runs called Bumble, was attended by the majority of young, successful women.
The power of women has been an asset for Whitney, especially with her daring app Bumble. Bumble is a dating app that allows the women to make the fist move. The women is in charge of who they want to proceed in communicating with and possibly dating. Bumble has acquired over 22 million registered users, which is not far behind its closest competitor Tinder. Tinder currently has 46 million registered users for their dating app. With the growth Bumble has seen which is over 70% year to year, it is not surprising to say that they will more than likely surpass their competitor soon, as Tinder has a much smaller growth of about 10% per year.
Ever since Bumble began monetizing with in app purchases, Bumble has had sales that have gone above $100 million dollars for the year. This number is expected to double in 2018 with the addition of tailored local advertising within the app. Whitney Wolfe Herd turned down an offer from Match Groups to buyout Bumble. It was an offer of $450 million dollars, which Whitney declined. Later that same year, Match Group came back with a higher offer of well over $1 billion dollars.Whitney Wolfe Herd has come a long way from her days at competitor Tinder. She was Tinder’s former VP of marketing and cofounder of dating app Tinder.
Whitney Wolfe Herd moved on from Tinder amidst a lawsuit that included sexual harassment allegations and allegations that Tinder had taken away Whitney’s title of cofounder of the dating app. The lawsuit was settled in court and both parties in the lawsuit were court ordered from discussing the details further.
Whitney Wolfe Herd used this situation and made the best of it by creating a dating app that caters specifically to one target audience, women.Bumble has been successful so far with 20% of its users subscribing to the $9.99 monthly subscription that includes a longer time frame to decide whether or not to respond to a message.