Today, Bumble heralded the return of Whitney Wolfe Herd, its founder, reclaiming the CEO position she stepped away from back in 2023.
Wolfe Herd will be succeeding Lidiane Jones, the current CEO, who opted to leave due to personal reasons. Jones, an executive from Slack will remain till mid-March to ensure a smooth transition.
Such return of CEOs isn’t unheard of in the tech industry. Renowned leaders like Jack Dorsey of Twitter and Steve Jobs of Apple have made similar reruns to their brainchild companies. These reappointments often draw from the intense connection a founder has with their company’s mission and culture.
Bumble’s announcement concerning Wolfe Herd comes at a significant time, as Q3 2024 results depict a revenue dip to $274 million despite a rise in user payment to 4.3 million. With a noticeable drop in average revenue per paying user (ARPPU) from $23.42 to $21.17, Wolfe Herd’s return signifies a hopeful surge for investors.
As the company preps for its Q4 results, whispers of an expected above-average app revenue are circulating. The predicted EBITDA is speculated to fall within the unveiled outlook range.
Original source: Read the full article on TechCrunch
