Get the latest tech news
Bumble Has Lost 92% of Its Value in 4 Years Shares of rival Match Group, whose portfolio includes Tinder and Hinge, have also dropped significantly — about 79% since peaking in April 2021.
Bumble plunged almost 30% on Wednesday amid a disappointing outlook in its latest earnings report. The dating app's stock has declined steadily since peaking shortly after its 2021 IPO.
Though the dating app company delivered a fourth-quarter revenue beat of $261.6 million, any positive reactions among investors were overshadowed by a weaker-than-expected outlook. The weaker guidance is the result of what Bumble says is a temporary drop in paying users amid the company's efforts aimed at a brand refresh. In the latest earnings commentary, founder Whitney Wolf Herd explained that the company overhaul currently taking place will result in strength down the road.
Or read this on r/technology
