{"id":177446,"date":"2021-02-12T22:27:46","date_gmt":"2021-02-12T19:27:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/how-bumbles-ceo-became-a-billionaire-after-ending-some-awkward-relationships\/"},"modified":"2021-02-12T22:27:46","modified_gmt":"2021-02-12T19:27:46","slug":"how-bumbles-ceo-became-a-billionaire-after-ending-some-awkward-relationships","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/how-bumbles-ceo-became-a-billionaire-after-ending-some-awkward-relationships\/","title":{"rendered":"#How Bumble\u2019s CEO became a billionaire \u2014 after ending some awkward relationships"},"content":{"rendered":"

“#How Bumble\u2019s CEO became a billionaire \u2014 after ending some awkward relationships<\/strong>”<\/p>\n

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Whitney Wolfe Herd just became the world\u2019s youngest self-made female billionaire with her Bumble dating app<\/a>\u2019s\u00a0initial public offering\u00a0\u2014 and she did it after ending some awkward relationships.<\/p>\n

The 31-year-old chief executive founded Bumble as a female-focused app in 2014 after leaving Tinder, where she had sued her fellow co-founders for sexual harassment and discrimination. After a romance gone sour, Wolfe Herd alleged that co-founder Justin Mateen\u00a0repeatedly called her\u00a0a \u201cwhore.\u201d <\/p>\n

Ex-Tinder CEO Sean Rad likewise subjected Wolfe Herd to \u201ca barrage of horrendously sexist, racist, and otherwise inappropriate comments, emails and text messages,\u201d according to Wolfe\u2019s explosive complaint. <\/p>\n

Those included Rad\u2019s allegedly texting Wolfe Herd a drawing of his billionaire boss Barry Diller\u2019s initials \u201cBD\u201d to form a \u201cd\u2013k pic,\u201d sources told The Post at the time. The suit was reportedly settled for more than $1 million with Tinder denying any wrongdoing, despite the fact that Mateen and Rad left soon after. <\/p>\n

Wolfe also claimed she was strip<\/a>ped of\u00a0her co-founder title at Tinder after Mateen said having a female co-founder \u201cmakes the company seem like a joke\u201d and \u201cdevalues\u201d the company\u2019s business.<\/p>\n

The irony of the last alleged comment is rich: On Friday, Bumble\u2019s value swelled to $8.7 billion after the company\u2019s stock surged 63 percent to $70.31 in its Thursday market debut. Wolfe Herd\u2019s 21.5 million Bumble shares, equal to a 12 percent stake, are now worth more than $1.5 billion, making Wolfe Herd the world\u2019s youngest self-made woman billionaire,\u00a0according to Forbes<\/a>.<\/p>\n

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Whitney Wolfe Herd in an undated photo with Tinder co-founders Justin Mateen (L) and Sean Rad.<\/figcaption>
TinderApp\/Instagram<\/span><\/figcaption><\/figure>\n

What\u2019s lesser known than the sordid Tinder saga, however, is the fact that Wolfe Herd subsequently jumped into a\u00a0strange business relationship with\u00a0Andrey Andreev, the Russian tech tycoon who helped launch the business in 2014.<\/p>\n

Andreev was accused of\u00a0overseeing a seamy, hedonistic office culture\u00a0at Bumble\u2019s sister app, Badoo, which he launched in 2006. More than a dozen ex-Badoo staffers told Forbes in 2019 that the company held wild parties \u2014 including one where \u201ceveryone was naked and doing lines of coke\u201d \u2014 and that female employees were frequently\u00a0objectified.<\/p>\n

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Andrey Andreev attends the Nadezda Foundation Gala Dinner on November 6, 2018 in London.<\/figcaption>
Dave Benett\/Getty Images for Nad<\/span><\/figcaption><\/figure>\n<\/div>\n

Some of the reported allegations were particularly stomach-churning. Another employee claimed that a video circulated around the company of a male Badoo employee receiving oral sex from a prostitute, with one female employee saying she was pressured by male colleagues into watching it.<\/p>\n

Badoo denied that such a video existed.<\/p>\n

While most of the antics reportedly took place before\u00a0Andreev teamed up with Wolfe Herd, the allegations clashed with Bumble\u2019s ethos of empowering women in romantic relationships. The app\u2019s defining feature\u00a0is that only women can initiate chats with male mates.\u00a0(If you\u2019re looking for a same-sex match, either person can reach out first.)<\/p>\n

Wolfe Herd, who at the time had a 20-percent stake in Bumble compared with Andreev\u2019s majority stake, had defended her business partner, saying he was like family and a best friend to her.<\/p>\n

\u201cWhat I\u2019ve seen firsthand from Andrey is creative and motivating behavior,\u201d Wolfe Herd said. \u201cAndrey has never been anything but kind and respectful to me.\u201d<\/p>\n

Nevertheless, after controversies surrounding the Forbes story, Andreev gave up his stake in Bumble last year to Blackstone, the private-equity titan that remains the company\u2019s largest shareholder. The revised\u00a0IPO prospectus<\/a>\u00a0Bumble filed this week gave a nod to Andreev\u2019s role in its formation.<\/p>\n

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Whitney Wolfe Herd speaks at the Time 100 summit in April 2019.<\/figcaption>
AP<\/span><\/figcaption><\/figure>\n

\u201cWhen launching Bumble, we did so together with Andrey Andreev and his company Badoo, one of the pioneers of web and mobile dating products, in order to achieve the most impact and reach possible,\u201d Wolfe Herd wrote in a letter included in the filing. \u201cBumble leveraged Badoo\u2019s global scale, eight years of experience and robust resources.\u201d<\/p>\n

The results speak for themselves. Austin, Texas-based Bumble closed its first trading day well above the $43-a-share price it had set for the $2.2 billion offering, making it the latest in a string of big-name tech firms including Airbnb and Doordash to capitalize on a hot IPO market.\u00a0\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#How Bumble\u2019s CEO became a billionaire \u2014 after ending some awkward relationships” Whitney Wolfe Herd just became the world\u2019s youngest self-made female billionaire with her Bumble dating app\u2019s\u00a0initial public offering\u00a0\u2014 and she did it after ending some awkward relationships. The 31-year-old chief executive founded Bumble as a female-focused app in 2014 after leaving Tinder, where…<\/p>\n","protected":false},"author":1,"featured_media":177447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/02\/Whitney-Wolfe-bumble-01.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[92929,87108,70707,5007,93138,93139,71374,21087,93031],"class_list":["post-177446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-2-12-21","tag-bumble","tag-dating-apps","tag-ipo","tag-justin-mateen","tag-sean-rad","tag-sexual-harassment","tag-tinder","tag-whitney-wolfe"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/177446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=177446"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/177446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/177447"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=177446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=177446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=177446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}