Whitney Wolfe Herd Bids Farewell: Bumble CEO to Step Down

Whitney Wolfe Herd, the founder of the popular online dating and networking app, is leaving the company’s CEO position in a surprising move. He will be succeeded by Lidiane Jones, the current CEO of instant messaging service Slack. The management change will take effect in January 2024.

“It is a monumental moment that has required a great deal of time, consideration and care before handing over the baton to a leader and woman I deeply respect. This move to Executive Chair will allow me to step forward into a new and exciting role, return to my founding roots and bring tremendous passion and focus for this next chapter of growth,” Wolfe Herd said.

According to reports, Bumble’s stock price fell 10 percent to a record low of $12.29 after the announcement of Wolfe Herd’s departure.

Wolfe Herd, who co-founded Bumble with Andrey Andreev, the billionaire founder of European dating app Badoo, briefly held the title of America’s youngest self-made female billionaire at age 31 when the company went public in February 2021.

Bumble, once valued at more than $20 billion, has suffered a significant drop in its stock price since it went public. The company’s market value is currently 2.7 billion dollars.

In a statement, Bumble acknowledged the company’s achievements under Wolfe Herd’s leadership, highlighting its success as one of the world’s leading online apps and establishing itself as a global brand championing women’s online safety.

Wolfe Herd founded Bumble in 2014 with the goal of creating an empowering online dating space for women.

“Under Wolfe Herd’s leadership, Bumble has become one of the world’s leading online apps that empowers members to confidently date, network or meet friends online. Bumble Inc. has also become known as a global brand that champions women’s online safety,” the company said in a statement.

Wolfe Herd’s personal fortune, estimated by Forbes at $510 million, is largely tied to his 17 percent stake in Bumble. Before founding Bumble, he was part of the team that launched Match Group’s Tinder app. However, she left the company after reported tensions with another executive, with whom she was also romantically involved.