5 things to know about billionaire Bumble CEO Whitney Wolfe Herd

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5 things to know about billionaire Bumble CEO Whitney Wolfe Herd


Dating app Bumble
BMBL,
+13.16%

went public on Thursday and saw its shares soar 64% on its first day of trading. Bumble is the “women make the first move” app that has become popular in the online dating industry.

Shares of Bumble are up another 13% during Friday’s trading.

Bumble is led by founder and CEO Whitney Wolfe Herd, who created the company in 2014. Here are 5 things to know about Wolfe Herd:

She’s a former Tinder executive

In 2012, Wolfe Herd started working at the Match
MTCH,
-1.70%

Group-owned Tinder, another dating app. She says she came up with the name “Tinder.”

She was vice president of marketing at Tinder during a period of huge user growth for the platform among young people.

Wolfe Herd left the company in 2014 and later filed a lawsuit against Tinder for sexual harassment — she received over $1 million plus stock as part of a settlement, according to reports.

Bumble IPO made her a billionaire

Bumble’s strong IPO opening has made Wolfe Herd’s 21.5 million shares worth over $1 billion.

Of the 500 wealthiest people in the world, fewer than 5% are self-made women, according to Bloomberg.

Wolfe Herd was seen with her baby in a video marking Bumble’s debut on the Nasdaq.

She became the youngest female CEO to take a company public

At age 31, Wolfe Herd is the youngest female CEO ever to IPO, according to Business Insider.

In the past year, 560 companies have gone public, and Bumble is just the third with a female founder and eighth with a female CEO. Additionally, over 70% of the members on Bumble’s board are women, according to its SEC filing.

Hopefully this will not be a rare headline,” Wolfe Herd told Bloomberg about Bumble being a female-led company. “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.”

She invested in another dating app called Chappy

In 2016, Bumble and Wolfe Herd invested in a dating app called Chappy. The app was designed for gay men in the U.K. area. 

In 2020, the app shut down and announced it would be merging with Bumble.

Championed legislation that made digital sexual harassment a crime

Wolfe Herd was an integral part of Texas Gov. Greg Abbott passing legislation that made sending unsolicited lewd photographs a crime in Texas, the state where she lives.

The legislation, which passed in 2019, made such acts punishable for a fine up to $500. Wolfe Herd testified in front of the Texas House Criminal Jurisprudence committee about the subject.

It is time that our laws mirror this way we lead double lives, in the physical and the digital,” Wolfe Herd said. “You look at government right now, it only protects the physical world. But our youth are spending a lot more time in the digital world than they are in the physical.”





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