Bumble makes a big buzz on IPO debut
Bumble is the gift that keeps on giving. It listed on the NASDAQ and its shares surged 76% on its first day of trade.
What's the key learning?
- Bumble’s IPO is set to inspire and empower a generation of female entrepreneurs
- Whitney Wolfe Herd, Bumble's CEO is pretty different to many standard tech company founders - no STEM degree, not based in Silicon Valley and hasn't raised billions of dollars in VC.
WTF is Bumble?
Bumble was founded in 2014 by Whitney Wolfe Herd, who started her career at Tinder. She initially wanted to create a women-focused social network - but then landed on the concept of a female-focused dating app. In other words, Bumble lets women, who are looking for their dream match, make the first move.
Bumble began trading on the US-based NASDAQ
Get this - they originally expected the price the stock at $28 per share, but after seeing the strong demand from investors, they bumped up the price to $43 USD. But Bumble is becoming the gift that keeps on giving. Its shares surged immediately when trading started - opening at $76 USD (hello 77% IPO day increase!).
So what's the key learning?
Bumble’s IPO is set to inspire and empower a generation of female entrepreneurs because Whitney Wolfe Herd is pretty different to many standard tech company founders (ie Jobs, Bezos, Musk, Zuckerberg, Spiegel, Page, Brin, Hastings - all white male).
Let's run through the differences:
- She does not have a degree in STEM (Science, Technology, Engineering or Maths)
- She is not based in Silicon Valley (the epicentre of the tech world
- She did not raise billions of dollars in venture capital
And despite all this, Bumble has achieved one of the most high-profile and successful technology IPOs of the year. Ohhh, and did we mention - the majority of Bumble's board is made up of women (unlike many other tech companies)
So this is a major moment not just for Bumble - but for female founders around the world