Bumble Makes High-Profile Public Debut

Bumble, the women-centered dating app, has gone public. The company’s stock soared around 70 percent to around $72 in its opening day, according to Bloomberg.

Bumble began trading on the NASDAQ yesterday. As a result, the company’s co-founder Whitney Wolfe Herd, 31, is now the youngest female self-made billionaire to take a company public in the United States, according to CNBC.

Unlike many of its competitors, the majority of the company’s board company consists mostly of women. Herd’s initial idea was to create a social network that focused on women before she decided to create an app instead. The way the app is designed, in heterosexual matches, women users have to be the first to initiate conversations. The idea behind the app is that it empowers women to be bold, according to CNN.

Herd, who began her career at Tinder, founded Bumble nearly seven years ago. She is also an anomaly because she did not initially raise billions of dollars in venture capital funds.

“You don’t have to be one type of person to find success in the business world or in the tech industry,” Wolfe Herd said. “I’ve truly just always tried to build what I wish existed, what I wish could help make lives better for the women I care about and the people I love, and I think it doesn’t always have to follow the same path.”

The company’s headquarters is in Austin, Texas. Blackstone purchased a majority stake in Bumble’s parent company from Russian billionaire Andrey Andreev nearly two years ago.