Bumble said on Friday founder\u00a0Whitney Wolfe Herd was returning as CEO in March and that the struggling dating app operator expects to exceed its fourth-quarter revenue forecast.<\/p>\r\n\r\n\r\n\r\n
Wolfe Herd, executive chair of Bumble, will take the reins from Lidiane Jones, who steps down after a tenure of about a year that was marked by a nearly 50% decline in the company’s shares.<\/p>\r\n\r\n\r\n\r\n
Sticky inflation and a lack of major new features have hit growth at dating app operators including bigger rival Tinder-owner Match Group\u00a0after a post-pandemic boom, leading to executive shake-ups at the companies.<\/p>\r\n\r\n\r\n\r\n
Bumble last month announced the departures of finance chief Anu Subramanian, who played a key role in its initial public offering in 2021, as well as marketing head Selby Drummond.<\/p>\r\n\r\n\r\n\r\n
The company announced more changes on Friday, including lead director Ann Mather’s appointment as chair of Bumble’s board.<\/p>\r\n\r\n\r\n\r\n
It also said its fourth quarter adjusted core profit would be within the previously disclosed range.<\/p>\r\n\r\n\r\n\r\n
Shares of the company were up 1.3% in early trading.<\/p>\r\n\r\n\r\n\r\n
The company in November forecast fourth-quarter revenue between $256 million and $262 million, and adjusted core profit between $70 million and $73 million.<\/p>\r\n\r\n\r\n\r\n
The forecast followed its first decline in quarterly sales since going public in 2021, and was a warning that the company would take longer to boost its sluggish growth rate.<\/p>\r\n\r\n\r\n\r\n
Bumble last year launched a refreshed Bumble app and new features, but the efforts are yet to gain traction, especially among Gen Z, an important group for advertisers.<\/p>\r\n\r\n\r\n\r\n
Reuters<\/p>\r\n","protected":false},"excerpt":{"rendered":"
Whitney Herd, founder of the dating app Bumble, returns as the CEO after stepping down from the position in 2023.<\/p>\n","protected":false},"author":2,"featured_media":1596,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[68],"tags":[],"class_list":["post-21230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-leadership"],"acf":[],"yoast_head":"\n