Inspiring many women entrepreneurs across the globe, Whitney Wolfe Herd has become the youngest woman billionaire in the world. The 31-year-old founder of the dating app Bumble achieved this feat soon after Bumble became a public company, taking her stake to a high of USD 1.5 billion.
Bloomberg reported that the shares of the company rose by 67 per cent during its trading debut and reached USD 72 in New York. Herd’s fortune as well as the successful listing of Bumble showcase a remarkable tale of utilising an underserved market for maximum benefit.
What Herd’s dating app Bumble does is that it gives women the chance to make the first move and avoid receiving undue messages. Her multibillion venture owed its origins to countering sexual harassment, which is one of the obstacles faced by women everywhere.
Herd became one of the few self-made women billionaires after the IPO launch of Bumble, motivating many other women innovators and entrepreneurs out there. The Bloomberg Billionaires Index show how self-made women, especially those from Asia, make up less than five per cent of the top 500 wealthiest people in the world. Men on the other hand account for two-thirds of this index.
As for Bumble, Whitney Wolfe Herd is the founder CEO of the parent company that has control over Bumble and Badoo. These are among the highest-grossing dating apps in the world and compete with other successful ventures like Tinder and Hinge. While Bumble is built to keep women at the centre of things, Badoo excels in products for web and mobile dating.
The company led by Herd has a workforce of around 600 people in its various offices in Barcelona, London, Moscow, and Austin. It counts tennis legend Serena Williams and actor Priyanka Chopra Jonas among its investors.