Bloomberg
Bumble gives optimistic prospects, which gives a sign of return to social life
(Bloomberg) – Bumble Inc., owner of the dating app where women take the first step, forecast revenue in the first quarter, beating analysts’ estimates slightly, reflecting optimism that a Declining coronavirus will encourage people to live their social lives and want to meet new friends or partners. The company in Austin forecasts revenue of $ 163 million to $ 165 million in the current period. According to data compiled by Bloomberg, Wall Street predicted $ 163 million. For the full year, Bumble had sales of $ 716 million to $ 726 million, which is also better than expected. This is Bumble’s first release after its initial public offering of $ 2.15 billion last month. Launched in 2014, Bumble has gained a market share in the US, which has traditionally been dominated by Match Group, the owner of Tinder. “Match is definitely the Goliath in space, but Bumble is a viable number two,” Bloomberg Intelligence analyst said. Matt Martino, before the results were announced. In the fourth quarter, revenue increased 31% to $ 165.6 million, beating the average analysis estimate of $ 163.3 million. Total paying users increased by 32% to 2.7 million, with an average revenue per user of $ 20.02, roughly unchanged from last year. The company increased to a net loss of $ 26.1 million, compared to earnings of $ 17.2 million a year earlier. The loss per share was 1 cent. “Our significant increase in revenue and paying users is a direct result of our team’s dedication and remarkable agility during a challenging pandemic,” said Whitney Wolfe Herd, CEO, at 31. woman to take over a major company in the US as CEO. “Our IPO was an important milestone, but we are just getting started and are excited for the next chapter of our journey.” International expansion will be important for Bumble’s long-term prospects, said Daniel Salmon, analyst at BMO Harris. Currently, the two programs, Bumble and Badoo, are segmented by geography; Bumble’s primary user base is in North America and Badoo is focused on Europe. Revenue increased 47% on the Bumble app in the fourth quarter, beating Badoo’s rate much higher than 10.5%. Bumble’s women – centered approach has led to the strength of female users in particular. The Bumble app has an approximately 30% higher female user ratio compared to the rest of the North American market, according to the company’s submission. The company’s non-dating services, Bumble BFF and Bumble Bizz, offer opportunity for growth, although not ‘Martino’s currently making money. ‘These features are very emerging. But it’s interesting nonetheless. And it can help with the time spent on the app and connecting with Bumble. ‘Bumble’s shares have risen 46% since its launch, and the company has valued at $ 11.6 billion. They gained about 5% after the results were announced, after closing at $ 62.91 in New York on Wednesday. For more articles like this, feel free to visit us at Bloomberg.com. Sign up now to stay ahead of the most trusted business news source. © 2021 Bloomberg LP