Whitney Wolfe Herd to lead Bumble as CEO once again

AUSTIN, Texas - Bumble Inc. (NASDAQ:BMBL), the parent company of the dating app Bumble, announced that founder Whitney Wolfe Herd is set to retake the helm as Chief Executive Officer in mid-March 2025. Herd, who currently serves as Executive Chair, will be succeeding Lidiane Jones, who has resigned due to personal reasons. Jones will remain in her role as CEO until the leadership transition is complete. The announcement comes as Bumble, currently trading at $7.83, shows signs of being undervalued according to InvestingPro analysis, with strong fundamentals including a current ratio of 2.09 indicating solid short-term financial health.

Expressing gratitude for Jones's contributions, Wolfe Herd stated, "I am deeply grateful for the transformative work Lidiane has led during such a pivotal time for Bumble, and her leadership has been instrumental in building a strong foundation for our future." She also shared her enthusiasm for the company's future, highlighting upcoming innovations for Bumble. InvestingPro data reveals the company maintains a moderate debt level and generates substantial free cash flow, with revenue growing at 6.26% over the last twelve months.

Jones reflected positively on her tenure, emphasizing the progress Bumble has made and expressing her continued support for the brand and its team.

In addition to the CEO transition, Ann Mather, currently the Lead Director, will take on the role of Chair of Bumble's board of directors. Mather praised Jones for her significant contributions and recognized the value of having an engaged founder like Wolfe Herd to drive the company's vision.

The company also disclosed that its financial performance for the fourth quarter of 2024 is expected to surpass its previous projections, with total revenue and Bumble App revenue exceeding the midpoints of prior outlook ranges. Adjusted EBITDA for the same period is anticipated to align with the previously provided outlook range. While the company reported an EBITDA of $190.61 million in the last twelve months, InvestingPro analysis suggests positive momentum ahead, with analysts predicting profitability this year. For deeper insights into Bumble's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

These announcements come with the standard caution that forward-looking statements are subject to risks and uncertainties. Bumble Inc. has stated that it does not have any obligation to update these statements to reflect events that occur or circumstances that arise after the date of the press release.

This news is based on a press release statement from Bumble Inc. and reflects the company's current expectations and strategic plans for its leadership and financial performance.

In other recent news, Bumble has been making strategic moves to bolster its leadership team and financial position. The company recently announced the appointment of Michael Affronti, a former Salesforce (NYSE:CRM) executive, as its new Chief Product Officer, a move expected to enhance product innovation and user experience. In financial developments, Bumble reported a slight year-over-year revenue decline of 1% in the third quarter, with revenues of $274 million and an EBITDA of $83 million, surpassing both consensus and analyst estimates.

Analyst firms have been adjusting their positions on Bumble. Wolfe Research downgraded Bumble's stock rating from Outperform to Peerperform, citing operational risks and increasing competition in the online dating sector. Meanwhile, Susquehanna maintained a Neutral rating on Bumble but raised the share price target from $6.00 to $8.00, based on the company's ongoing transformation of its core app.

Bumble has also extended its credit facility maturity to 2026, providing the company with continued financial flexibility. Amidst leadership changes, including the appointment of Neil Shah as its new Chief Business Officer and the upcoming departures of CFO Anu Subramanian and CMO Selby Drummond, Bumble reaffirmed its financial outlook for the fourth quarter and full year of 2024. These are the recent developments in Bumble's business operations and financial performance.

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