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Bumble cuts ~350 employees as dating apps face a reckoning
Bumble is the latest dating app to report disappointing quarterly growth in an increasingly tough market.
While up from the same period a year ago, earnings came in below Wall Street expectations and were paired with a disappointing Q1 2024 forecast — sending Bumble’s stock tumbling ~10% in after-hours trading. “We believe these actions will strengthen our foundational capabilities and enable us to continue delivering new and engaging user experiences that create healthy and equitable relationships,” Jones said during a call on today’s earnings. Bumble has also had to contend with internal organizational shifts in the wake of founder Whitney Wolfe Herd stepping down as CEO last November and transitioning into the role of executive chair.
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