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Bumble Founder Whitney Wolfe Herd to Reclaim CEO Position in March
Bumble has announced today that its founder, Whitney Wolfe Herd, will be returning as the company’s Chief Executive Officer (CEO) effective mid-March. This news comes after Wolfe Herd stepped down from the position in 2023. Lidiane Jones, the current CEO of Bumble, will continue to serve in her role until the transition takes place.
Wolfe Herd’s return to the helm at this critical time may bring a renewed sense of confidence among investors. The company has been experiencing sluggish growth, with third-quarter 2024 results revealing a decline in total revenue to $274 million, despite an increase in paying users to 4.3 million. Additionally, the average revenue per paying user (ARPPU) dropped to $21.17 from $23.42.
As Bumble prepares to release its fourth-quarter results next month, the company has indicated that it expects to report app revenue “above the midpoints of the previously provided outlook ranges.” The organization also anticipates reporting adjusted EBITDA within the disclosed outlook range. Notably, in November, the company projected fourth-quarter revenue between $256 million and $262 million, with adjusted EBITDA expected to be between $70 million and $73 million.
The return of Wolfe Herd as CEO may help stabilize Bumble’s financial performance.
Source: techcrunch.com
