How Bumble Became a Billion Dollar Dating Platform - Business Model Analysis
What makes Bumble special?
Whitney Wolfe established Bumble after she filed a sexual harassment complaint against several executives at Tinder and left the firm. Whitney decided to design an online dating app to address this issue based on her own experiences and that of other young women in the online dating market. Unlike other dating apps, Bumble places the onus on the woman to initiate contact. If a heterosexual pair is matched, the lady has 24 hours to write to the other. If she does not comply, the match is automatically terminated after this time period. This prevents women from being harassed and matches from becoming useless.
This critical distinction provides female users of the dating app the upper hand, creating an environment in which women, in particular, feel secure and comfortable with their behaviors. There is a heavy emphasis on female empowerment not only in the app, but also in the program itself. Bumble is the company with the most female employees in the information technology sector in the United States of America.
Empowering women
Financial, technological and commercial independence allows them to have freedom in their choices.
Backround checks
With each new registration on the app, Bumble obtains a background check via their social media channels to guarantee the seriousness of their users.
Premium
With the option of a premium subscription, Bumble offers advanced search settings that further filter suggestions to partners.
Number of users
Bumble's popularity is increasing its user base, making it steadily more attractive to new entrants.
User-friendly
The operation of the app is very simple and self-explanatory.
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2 of 14 Business Model Patterns behind Bumble
Proven strategies to design successful business models.
The Business Model Ideas Patterns are a collection of mechanics, themes and strategies used to delineate business model building blocks. Use them as inspiration and blueprints for designing your business models.
The best way to do this, is to look at the design theme and ask yourself, what would this mean for our business?
For each design theme we provide a short explanation, some key questions you can ask yourself and links to analyzes at Business Model Ideas, illustrating the design theme in practice.
How Does Bumble Make Money?
The business relies on its freemium model, which allows users to purchase subscriptions that grant access to premium features. These features include the ability to extend the duration of matches, unlimited swipes, the ability to retrace steps, SuperSwipes, and more. Currently, the app has 1.8 million paid users in 2022 who spend an average of $19.99 per month.
Bumble generates revenue via two add-on features. These include:
Similar to Tinder's Boost feature, users who pay two Bumble coins are moved to the front of the match queue for increased visibility.
Boost is a premium feature that enables users to match with old connections, receive unlimited search filters, and swipe without restrictions, among other things.
Action-oriented insights
By using Bumble as an example, it is clear that via user observation and their own experiences, a significant modification has been made to the online dating market that responds effectively to this issue. Whitney Wolfe came up with the concept following her departure from Tinder due to workplace sexual harassment. Soon afterward, she recognized an unmet need for a female-friendly dating app and developed Bumble. Bumble was the first dating app to give women the upper hand, addressing a major demand in an already established market. Because Whitney Wolfe, as CEO, has had similar issues and is a member of the target demographic, she serves as a representative persona for her company and so instills a high level of trust in her customers. Additionally, the corporation has implemented numerous verification mechanisms into its software to prevent users from creating fraudulent profiles, posting objectionable content, or leaving comments. The CEO has a zero-tolerance policy on nasty or misogynistic behavior.
Belonging together
No one is alone. In the end, we are all the same. It shows the positive and negative moments in all our lives and creates a kind of togetherness.
Community
Various people tell or show their experiences with the app. A picture of a "Bumble community" emerges that invites you to make your own experiences with the app.
Expectations
Society's expectations with regard to partners are addressed. Like the family that constantly asks if there is already someone.
Friends
In the advertisement, it is also mentioned that the app is not only intended for romantic relationships, but that you can also start friendly relationships or business relationships.
Responsibility/Helpfulness
In this spot, a new feature of Bumble is shown, in that for every match you make, Bumble donates an amount to a woman working in the social sector in their community.
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