Jakarta, CNBC Indonesia – The founder of Bumble, relinquished his CEO position at the online dating application company. News of the resignation of a woman named Whitney Wolfe Herd caused Bumble shares to plummet
The announcement regarding Wolfe Herd’s replacement failed to calm the market. Former CEO of Slack, Lidiane Jones was appointed as the new leader of Bumble starting January 2 2024.
“In our view, Whitney’s departure will have a short to medium term impact on the company’s operations,” said Evercore ISI analysts.
Before Wolfe Heard, Bumble had been abandoned by Tariq Shaukat. Shaukat held the position of President of Bumble for three years.
Wolfe Herd founded Bumble in 2014 after leaving his job at Match Group, owner of the Tinder app. Bumble is different from other dating apps because it requires the woman to take the initiative in the conversation.
Apart from the Bumble application, Bumble also has the Friends, Badoo, Fruitz and Official applications.
During its initial public offering (IPO) in February 2021, Bumble raised US$ 2 billion amidst an investment boom in the technology sector. The pandemic conditions caused the number of Bumble users to explode and attracted great interest from investors.
However, now Bumble’s share price has fallen to a quarter of its peak price.
Wolfe Herd’s assets also shrank from US$ 1.5 billion (Rp. 23.4 trillion) at the beginning of 2021 to “only” US$ 510 million (Rp. 7.9 trillion).
[Gambas:Video CNBC]
(dem/dem)