Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Bumble announced today, that founder, Whitney Wolfe Herd, later returns as CEO fall down from office in 2023.
Wolfe Herd will replace current CEO Lidiane Jones, who is leaving the company “for personal reasons,” Bamble explained. Jones, the former CEO of Slack, will continue in his role at Bumble until the transition takes effect in mid-March.
It is not unusual for founders to return as CEO. Notable examples include the return of Jack Dorsey Twitter and Steve Jobs’ return to Apple. The reasons for such a return can be varied, but founders are often a natural choice because they are closely aligned with the company’s mission and culture.
Wolfe Herd’s return comes at a critical time for Bumble as the company experiences sluggish growth. Results for the third quarter of 2024 revealed total revenue fell to $274 million, despite an increase in the number of paying users to 4.3 million. In addition, average revenue per paying user (ARPPU) fell from $23.42 to $21.17. Wolfe Herd’s comeback could inspire confidence among investors.
As Bumble prepares to announce fourth-quarter results next month, the company said it expects to report app revenue “above the midpoints of previously provided forecast ranges,” along with CEO news. It will also report adjusted EBITDA within the disclosed outlook range.
In November, the company forecast fourth-quarter revenue of $256 million to $262 million, with adjusted EBITDA expected to be between $70 million and $73 million.
