Whitney Wolfe Herd delivers a keynote conversation at the Forbes Under 30 Summit, October 11, 2021 … [+]
JAMEL TOPPIN FOR FORBES
After a $2.2 billion IPO last February, Bumble dating app founder and CEO Whitney Wolfe Herd is operating “business as usual”—unfazed by the market ticker’s rises and falls. Shares on the Nasdaq sagged to about $40 in the summer after debuting at $76.
“I’m not obsessed with the stock,” she said, “I’m obsessed with the customer, the team, the innovation we’re planning for the future.”
The 32-year-old spoke on-stage Monday about entrepreneurship and the Austin-based company’s growth with Forbes 30 Under 30 editor Alexandra Wilson at the Forbes Under 30 Summit, which gathered about 1,000 participants at the Detroit Opera House plus thousands more attending virtually.
Having previously cofounded dating app Tinder, Wolfe Herd appeared on the Forbes 30 Under 30 list in 2017 for Bumble, which was three years old and had attracted 11 million users. Now Forbes estimates Wolfe Herd’s net worth at $1.2 billion from her 21% stake in the business. Its public debut earlier this year, when she rang the opening bell while holding her 1-year-old son, made her the youngest self-made woman billionaire.
“If you’re trying to get to that next milestone, don’t focus on the short-term. Stay married to the long-term vision,” Wolfe Herd told the audience of Forbes 30 Under 30 list honorees.
The platform, initially designed to be a more positive social media destination for women, evolved into a dating space and an app used around the world for making friends and business connections. Wolfe Herd described the evolution of the brand mission from a focus on women to a focus on equitable, healthy relationships and inclusivity.
During the pandemic, Wolfe Herd has witnessed greater adoption of Bumble’s already-existing video-chat feature and users gravitating to Bumble to combat loneliness and isolation, even individuals currently committed to a romantic partner.
“We were flooded with people longing for any type of connection,” she said. “Sometimes it takes timing and outside circumstances to validate a certain innovative move the business is making.”
Beyond the success stories in the software, Wolfe Herd said the most energizing moments are personal stories of love and connection—from meeting dogs named Bumble to receiving messages from nurses noting they were delivering their eighth “Bumble baby” in a month.
