Whitney Wolfe Herd was extremely deliberate when she began planning the launch for the new Bumble product. Her venue choice was the space hosting the Four Seasons Restaurant for 57 years. This was where regulars including Vernon Jordan, Henry Kissinger, Stephen Schwarzman and Edgar Bronfman were responsible for the creation of the ultimate power lunch. The space now has a new management, name and menu. She has brought women to the power lunch.
Whitney Wolfe Herd has changed the dynamics of dating with Bumble by giving women the right to make the first move. Bumble now has more than 22 million users, and their growth reached a staggering seventy percent. In August of 2016, Bumble started monetizing their purchases made within the app. Their sales this year will reach $100 million, and are expected to double in 2018.
Whitney Wolfe Herd declined an offer from the Match Group for a buyout. They approached her a second time with an offer of more than $1 billion, but she is holding onto her twenty percent of Bumble. She has become a centimillionaire due to her stake. Over ten percent of the users at Bumble are paying a monthly subscription fee of $9.99. This given them access to special perks like having some extra time to decide if they want to answer the message of a suitor.
Whitney Wolf Herd discovered the special sauce for Bumble while she was having cocktails. She thought about how he always wanted to have the number for a guy who didn’t have hers. This when the thought occurred to let women send the first message and make the first move. She decided it would be like the carriage pumpkin for Cinderella, and if the guy didn’t answer the message would disappear in 24 hours. She wanted to hardwire this into her product because she understood the demographic.
Whitney Wolf Herd considered a lot of names before deciding on Bumble. She believed the branding details including bees and hives would prove successful. In December of 2014, her app went live, and during the first month accumulated more than 100,000 downloads. Women had experienced so many bad experiences with men on countless dating app, and they were ready for Bumble. By putting women in control, Whitney Wolf Herd removed the fear. Now she has created Bumble BFF to help women forge friendships, and more than three million users have tried the app. She managed to remove the sexism and soliciting nature of networking.
Read More: en.wikipedia.org/wiki/Whitney_Wolfe