Bumble founder Wolfe Herd to hand over CEO role to Slack’s Lidiane Jones

Bumble founder Wolfe Herd to hand over CEO role to Slack’s Lidiane Jones

Bumble CEO Whitney Wolfe Herd will be stepping down as chief executive and handing over the role to Lidiane Jones, a seasoned tech and business executive. This announcement caused Bumble’s shares to drop more than 8% in early trading on Monday. Jones, who is currently the CEO of Salesforce-owned Slack, has extensive experience in senior business roles at Microsoft. She will assume the position on January 2, while Wolfe Herd will remain as executive chair.

Wolfe Herd expressed her confidence in Jones, stating that her expertise and track record in product and technology are exceptional. Bumble aims to incorporate artificial intelligence into its products under Jones’ leadership.

Wolfe Herd founded Bumble in 2014 after leaving rival app Tinder, which she co-founded and had a contentious departure from. Bumble differentiated itself in the industry by empowering women to make the first move in dating interactions.

In recent years, Bumble has faced pressure to expand its presence, particularly in markets like Eastern Europe, and has encountered competition from larger rival Match. Bumble’s portfolio of dating services includes Friends, Badoo, Fruitz (for Gen Z), and Official.

Bumble had a successful initial public offering in February 2021, raising over $2 billion. However, the company’s stock value has declined significantly since then.

This departure marks the second major executive change at Bumble this year, following the exit of President Tariq Shaukat. Analysts at Evercore expressed a negative outlook on the news, citing potential headwinds for business operations and a negative impact on company morale.

Bumble is set to report its third-quarter earnings on Tuesday.

Reporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel and Arun Koyyur

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Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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