Bumble is among the most popular dating apps, with over 12.3 million monthly active users globally. Yes, around 12 million people worldwide use this app to find their romantic partners. It is the second most downloaded app in the US. Thus, from a business perspective, the dating application market is thriving with millions of users. Therefore, one intriguing question rings a bell in our mind about how does an app makes money. So, today we will figure out all aspects related to how much and how does Bumble makes money.
This article tells you everything about how Bumble became a million-dollar app. Let’s dive in!
What is Bumble?
Bumble is a feminist dating app founded by Whitney Wolfe Herd in 2014 to help women find dates. It uses the “swipe right for hot, left for not” algorithm to allow users to choose their best match. A unique feature of the app is that only women can make the initial contact. Besides looking for dates, people also use the app to socialize and make new friends.
The application is free to download from the Play Store and App Store, but users must pay for additional features.
Bumble Mission & Vision
Bumble’s mission is to develop a “platform and community that creates empowering connections in love, life, and work.”
At the same time, their vision is “a world free of misogyny, where all relationships are equal.”
Bumble App Models
Bumble has three different models to cater to the needs of a wide user base. Users can use this application to find partners, and friends, or even connect to their peers. Moreover, the best thing is that you can use all three subsequently by switching between them. The three models are:
Bumble Date
Bumble Date allows users to look for romantic partners to date. While men and women can use Bumble Date, men cannot make the first move; it is exclusive for women to contact first.
Bumble BFF
When looking for a platonic relationship instead of a romantic one, users might find theirs at Bumble BFF. It is a platform that connects people who want to socialize and make new friends.
Bumble Bizz
Surprisingly, Bumble also caters to the business community by allowing professional networking through Bumble Bizz. So, users can connect to their peers and find job and internship opportunities.
Now that you know how Bumble primarily works, it is time to answer the big question: How does Bumble make money?
Bumble Business Model
Bumble follows the ‘Freemium’ business model like most social media platforms. Freemium combines free and premium.
The Freemium model offers a service primarily free to the users without any download or usage fee. However, in such business models, the most beneficial features are premium and have a purchase or subscription cost like Spotify, YouTube, etc.
How Does Bumble Make Money?
Premium Features
While Bumble does not have a fee initially, users must pay a one-time fee to get the premium features absent in the basic version. These features include Beeline, Backtrack, Spotlight, and SuperSwing, which improve your visibility and show you the users most interested in you.
Bumble Premium Features Cost:
- Boost: $8.99 a week, $16.99 a month, $33.99 for three months, or $54.99 for six months.
- Spotlight: $5.99 to $49.99 one-time purchase
- SuperSwipe: $5.99 to $39.99 one-time purchase
Subscription
When thinking of “how does Bumble make money dating app,” subscriptions play a major role. Users can get the Bumble Boost membership that offers numerous perks, including unlimited daily matches, who swiped right on your profile, rematching with expired connections, etc. 2.4 million users subscribe to the app’s premium features.
The Bumble Boost Premium Subscription offers you the following merits:
- Access to Beeline and unlimited advanced filters
- The ability to change your location to find people in other regions
- An incognito mode that hides your profile from users you have not liked
Bumble Premium Subscription Costs
- 1 week: $19.99 per week
- 1 month: $39.99 per month
- 3 months: $76.99 every 3 months
- Lifetime: $229.99
In-app Purchases
The application also enables users to make in-app purchases using Bumble coins, Bumble’s in-app currency. Different purchasable features increase your profile’s visibility, including other benefits. Meanwhile, you can purchase stickers for an improved chatting experience.
Advertisements
Bumble’s humongous user base encourages brands to use the platform as an advertising space. This dating app is on top of different advertisement media. The platform has established advertising partnerships with lifestyle, dating, and relationship-related brands to reach a highly targeted audience.
Bumble Hive
Bumble Hive is a set of events hosted by Bumble that involves well-known brands and companies that sponsor the events. Thus, it generates a lucrative revenue stream for the platform. These events allow online users to interact with each other face-to-face.
Bumble’s Growth Over Years
Bumble has grown incredibly in the past few years, becoming the second-most downloaded dating app in the US. In 2021, Bumble reported a 57% increase in revenues. Moreover, it generated revenues of $694 million in 2022.
After its IPO, Bumble hit a massive valuation in 2021, reaching a $13 billion market cap. However, it declined by more than half the previous year, dropping to $6 billion.
Bumble gained a million users in the first year, rising to 8 million in 2016 and 42 million by 2020. During this same period, Bumble’s share of the dating app market grew by 9%, and it now has a 19% market share, coming in second only to Tinder.
The Bottom Line
Bumble is the second-most downloaded dating app in the US, with over 12.3 million active monthly users and 2.4 million paying users. Bumble is a feminist dating app that allows only women to make the first move. People often wonder how Bumble makes money. The platform works on a freemium model that allows the users to download the app for free and does not charge for the basic features. However, users have to purchase premium features through in-app purchases and subscriptions.
FAQs
Is Bumble for hookups or dating?
Bumble does not restrict the users to commitment, hooking, or even friendships, but reports show most Bumble users are looking for commitment. Only less than 1% of women on Bumble look for hookups, while a massive 85% of Bumble users want relationships or marriage.
Who is the target audience of Bumble?
Bumble is a feminist dating app targeting women seeking a safe and empowering dating experience. Bumble talks a lot about a strong emphasis on women empowerment, enabling them to make the first move.
How much money does Bumble make?
Bumble made $694 million in 2022, with a 57% increase in revenue in 2021. Bumble’s share of the dating app market grew by 9%, and it now has a 19% market share, coming in second only to Tinder.
Which country uses Bumble most?
Bumble is most popular in the US, with around 30% of users from this region, followed by another 30% in Germany. Furthermore, around 20% of the traffic comes from Mexico.
What percentage of Bumble users pay?
Around 4.6% of Bumble app users pay for the service, approximately 2.4 million. These users either pay through subscriptions or buy premium features using Bumble Coins.
Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.
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