Could Bumble Become the Next Facebook?
Bumble (NASDAQ: BMBL) and Meta's (NASDAQ: FB) Facebook might initially seem like very different companies. Bumble's namesake product, which served 1.5 million paid users in its latest quarter is a female-oriented dating app that lets women make the first move. Facebook, the world's largest social network, connects 2.9 billion monthly active users (MAUs) to their coworkers, friends, and family each month.
But if we take a closer look, some similarities start to appear. Bumble's BFF feature for platonic friendships is gradually evolving into a social network. During last quarter's conference call, it teased the expansion of BFF into a "metaverse" for new user-created communities -- which sounds similar to Facebook's virtual and augmented reality plans for the metaverse market.
Meanwhile, Facebook launched Facebook Dating, a free dating feature for its social network in the U.S., over two years ago. But it hasn't meaningfully challenged Bumble or Match's (NASDAQ: MTCH) Tinder yet -- presumably because most people still don't associate online dating with Facebook.
Source Fool.com
