Bumble CEO Whitney Wolfe Herd Became a Rare Female Billionaire
The Chief Executive Officer of Bumble Inc, Whitney Wolfe Herd became the youngest female billionaire. Bumble Inc, is known as the biggest rival of another famous dating app, Tinder
On Tuesday, after her debut on the stock market, the share of the company improved the second day after her epic debut. In New York, the shares of the company soared 67% in its trading debut to $72. On Friday, Bumble Inc was sponsored by Blackstone Group Inc. which was cost around $15.69 billion, as the stock price was initially increased by public offering price of per share $43.
The 67% flown in company’s trading debut to $72 valued the CEO of Bumble Inc, Whitney Wolfe Herd’s stake at $1.5 billion. With the hit IPO, Whitney Wolfe Herd becomes the youngest female billionaire under 40 and the first self-made female CEO to take the share of her company publicly as she rang the opening bell from Austin base offices of her company, Bumble with her one-year-old son by her side.
On Thursday, Whitney Wolfe Herd said in an interview with Bloomberg Television which was referred to the individuality and uniqueness of women-led management by Bumble,
“Hopefully this will not be a rare headline. Hopefully, this will be the norm. It’s the right thing to do, it’s a priority for us and it should be a priority for everyone else.” Moreover, she added, Bumble users are more likely to pay for premium offerings to have a deeper level of connection or a different approach to connection, listing offering incognito mode as a popular feature for people to browse others’ profile while being anonymous.”
Being the first ever self-made female billionaire, she has become a cautionary tale for women and an inspiration to many other women tech founders in the market. Whitney graduated from Southern Methodist University’s Dedman College of Humanities and Sciences with a degree in International Studies. After completing her studies, she co-founded the famous dating app, Tinder and sued the co-founders of the company for sexual assaults. The allegations were denied by the parent company of Tinder and later on, she was paid about $1 million to settle the dispute. In 2014, she founded her dating app where women are allowed to make the first move. Recently, the shares of the company increased and topped $13 billion in valuation after listing shares on the exchange of Nasdaq.