Bumble, a dating app made by women for women has just made its founder the world’s youngest self-made billionaire.
Recently, Whitney Wolf has made her company Bumble Inc. public since then the shares of the dating app has soared 67% while debuting in the trade market to $72 in New York. After that, the value of the Chief Executive officer Whitney Wolfe Herd has gone to $1.5 Billion.
Whitney Wolf who was an executive at Tinder who left her job and started her own female-led dating app in 2014. The main objective of Herd was to create a platform where women are the ones in control of making commitments and building relationships. Whitney wrote in Bumble’s S-1 filing “The importance of a woman making the first move is not exclusive to the world of dating, romance, or love,”. She also wrote that it is a powerful shift, giving women confidence and control.
Reportedly, almost every year, hundreds of companies go public in the USA, and out of them only 15-20 are led by women. Bumble app has the majority of female leaders, from executives to directors all are women. The company filed its IPO on January 15th and after going public it will function as a controlled company and Herd will have most of the voting power for a time period to focus on the future goals and objectives of Bumble.
In an interview with Bloomberg Television Wolfe said “Hopefully this will not be a rare headline” while speaking on the female-led business world and the unique approach of the Bumble App. She also said, “Hopefully this will be the norm. It’s the right thing to do, it’s a priority for us and it should be a priority for everyone else.”