Zinger Key Points
- Whitney Wolfe Herd will return as Bumble's CEO in March 2025, succeeding Lidiane Jones, who resigned for personal reasons.
- Bumble expects Q4 total revenue and Bumble App revenue above the midpoints of prior ranges.
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Bumble Inc. BMBL shares traded mixed on Friday following significant leadership and financial updates.
The company announced that its Founder and Executive Chair, Whitney Wolfe Herd, will become its Chief Executive Officer effective mid-March 2025.
Wolfe Herd will succeed Lidiane Jones, who has resigned from her position for personal reasons. However, Jones will remain CEO until the transition takes effect.
In November 2023, Bumble picked Lidiane Jones, who served as Chief Executive Officer at Slack, to succeed Wolfe Herd as Chief Executive Officer, effective January 2024.
In connection with Herd’s appointment as CEO, current Lead Director, Ann Mather, will become Chair of Bumble’s board of directors.
This leadership change marks a significant shift for Bumble as it continues to evolve in the competitive dating app market.
In her statement, Wolfe Herd expressed gratitude for Jones’ transformative leadership, particularly during a pivotal time for the company.
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In addition to the leadership change, Bumble provided an update on its fourth-quarter financial outlook.
The company expects total revenue and Bumble App revenue to exceed the midpoints of its previously provided outlook ranges. For context, Bumble’s earlier forecast for the fourth quarter total revenue was $256 million – $262 million (street view: $260.078 million), with Bumble App revenue between $207 million and $211 million.
Bumble said it expects to report Adjusted EBITDA within the previously disclosed outlook range of $70 million to $73 million.
Jones also shared her appreciation for the company’s progress during her tenure, citing Bumble’s growth and the strong platform that has been built for sustainable growth.
To further strengthen its leadership team, Bumble appointed Michael Affronti as Chief Product Officer earlier this month. Affronti, who previously served as SVP and General Manager of Commerce Cloud at Salesforce, will oversee Bumble’s product strategy moving forward.
Price Action: BMBL shares are trading lower by 0.77% to $7.765 at last check Friday.
Photo via Shutterstock.
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