Dating app owner Bumble buys France’s Fruitz in first acquisition -Breaking
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© Reuters. FILE PHOTO : This photo illustrates the Bumble Inc. (BMBL), app on an Apple iPhone. The illustration is taken on February 11th, 2021. It was the first IPO of the dating app operator on the Nasdaq Stock Exchange. REUTERS/Mike Blake/Illustration(Reuters] – Bumble Inc. announced on Monday that they had bought France’s Fruitz, its first acquisition. The dating app firm is trying to establish a foothold in Europe where it competes with Match Group, Tinder’s owner (NASDAQ:).
The terms and conditions of the financial deal are not public.
Fruitz was founded in 2017 as a freemium dating platform. It is widely used throughout Europe. Users can communicate their preferences for dating through four different fruit metaphors: cherries, grapes and watermelons.
Bumble will now have the opportunity to face off against rival Match Group. The Hinge owner is able to get started earlier. Bumble’s dating app Badoo is currently in Western Europe and competes against the likes of eHarmony or CharmDate.com.
Whitney Wolfe Herd, Chief Executive Officer at Bumble stated that Badoo was one of the most popular dating apps in Western Europe. Bumble also saw strong growth in this area.
Match stated earlier in this month that it expects Hinge to be launched in selected European countries during the second quarter.
While the pandemic appears to be receding across most regions, many dating companies are not anticipating an immediate increase in activity. Match has lowered its full year revenue forecast for February because of the OmicronCOVID-19 variant that it anticipates will keep dating and meeting ups from improving.
Apptopia data showed that Bumble had been downloaded approximately 2.4 million times in America during the fourth quarter. Match, however, saw 10.5 million downloads.
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