Why Bumble Inc Has Lost Its Buzz
After a highly successful IPO, shares of Bumble Inc (NASDAQ: BMBL) have fallen 24% from their highs. Like many technology companies, Bumble benefited from the pandemic-driven stay-at-home economy, as online dating became one of the only mediums to meet a match. Yet despite the seemingly perfect environment for its business, the company still struggled to generate positive earnings. As vaccinations rise and the pandemic subsides, investors may be wondering if this is as good as it gets.
Image Source: Getty Images
Bumble Inc is mainly known for its flagship platform, the Bumble dating app, which is famous for shaking up the industry by empowering women. When two people "match," the woman holds the cards — she must initiate the first interaction while her male counterpart waits and wonders. This was a revolutionary concept, and in developed markets like the US, the app is considered second only to Tinder.
Source Fool.com
