Facebook ($NASDAQ:FB) is launching a dating platform to compete with Tinder ($TINDER), OKCupid and Match ($NASDAQ:MTCH), and a myriad of others. App dating is a crowded space, but one company is looking to stand out above the rest by doing things differently: Bumble ($BUMBLE). The app is noted for its visionary leader and CEO Whitney Wolfe, giving more power to women as a business model, and for sponsoring the NBA’s Los Angeles Clippers.
We looked into the alternative data to see how they’ve become the Pepsi to Tinder’s Coca-Cola. Bumble made $162 million in revenue last year, and is projected to double that in 2019. Although Tinder made $260+ million in a single quarter, these are the top two dating apps and then there is a huge gap from the rest of the pack.
When comparing followers to similar apps on Twitter, Bumble went up a whopping 312% while trendy up-and-comer Hinge ($HINGE) is slow to gain steam on all social media platforms.
Match and OKCupid, despite their count being higher, could not manage to double its followers. The social numbers reached a plateau years ago while Bumble keeps impressing with customer satisfaction.
User reviews, ratings, and growth
On the Apple App Store, Bumble has managed to stay at a rock solid, consistent 4 star rating for years now, even with the number of reviews skyrocketing. Just to make that chart sound more impressive, in less than two years, the number of user reviews that led to that 4 star rating average increased 867%. Numbers can be fun sometimes.
This is how Tinder is doing, which is very up and down since 2014. And on top of all of the data shown so far, Bumble is still growing! It keeps adding more employees and really seems to be bulking up to take on Facebook, the mother of all social network websites.
Facebook is still new to the scene, and it looks as though Bumble is going to try and strengthen up to take them on headfirst.
About the Data:
Thinknum tracks companies using information they post online – jobs, social and web traffic, product sales and app ratings – and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.