Bumble dating app reportedly exploring sale as paying users decline

UNITED STATES: Bumble is reportedly exploring a sale as the dating app’s paying users declined amid slowing growth in the online dating scene.

Three people familiar with the matter told Reuters that the company is working with investment bankers at Morgan Stanley to explore a potential sale, although no deal is guaranteed and Bumble could ultimately decide to remain independent.

Neither company has confirmed the reported potential sale or commented on the matter.

The dating app, which gained attention for requiring women to make the first move before changing the feature in 2024, saw its number of users fall more than 11% to about 3.7 million last year. Its annual revenue also declined nearly 10% to about US$966 million (S$1.25 billion).

Paying users dropped even more in the first quarter of the year, down about 20% from a year earlier after the company reduced lower-engagement accounts.

While the company tried to offset user decline by raising prices and improving monetisation to boost revenue, average revenue per paying user only rose modestly. /TISG

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