Bumble CEO Steps Down Amid Revenue Struggles and Executive Shake-Up

AUSTIN, Texas — Bumble Inc. announced Friday that founder Whitney Wolfe Herd will return as CEO, replacing Lidiane Jones, who steps down after a year marked by a nearly 50% decline in the company’s stock. The leadership change comes as the dating app operator struggles with stagnant growth and executive departures.

Jones’ tenure saw Bumble’s shares plummet amid sticky inflation and a lack of major new features, challenges also faced by rival Match Group, owner of Tinder. The company recently lost key executives, including CFO Anu Subramanian, who played a pivotal role in Bumble’s 2021 IPO, and marketing head Selby Drummond.

Bumble’s board also announced the appointment of lead director Ann Mather as chair. Despite the turmoil, the company expects to exceed its fourth-quarter revenue forecast of $256 million to $262 million, with adjusted core profit projected between $70 million and $73 million.

However, Bumble’s growth remains sluggish, with its first quarterly sales decline since going public in 2021. The company has struggled to attract Gen Z users, a key demographic for advertisers, despite launching a revamped app and new features last year.

Shares of Bumble closed down 1.6% at $7.70 on Friday, reflecting investor concerns about the company’s ability to regain momentum in a competitive market.