stutter Announce Today, founder Whitney Wolfe Herd returns as CEO Step down From office in 2023.
Bumble explained that Wolf Herd will succeed Lydian Jones, the company’s current CEO who left for “personal reasons.” Jones, the former CEO of Slack, will continue her role at Bumble until the transition takes effect in mid-March.
It is not uncommon for founders to return as CEOs. Notable examples include Jack Dorsey’s return to twitter Steve Jobs returns to Apple. The reasons for this return can vary, but founders are often a natural choice because they remain closely connected to the company’s mission and culture.
Wolfe Herd’s return comes at a critical time for Bumble, as the company struggles with slowing growth. Third quarter 2024 results open Total revenue fell to $274 million, although the number of paying users rose to 4.3 million. Additionally, average revenue per paying user (ARPPU) decreased to $21.17 from $23.42. Wolf Herd’s return may inspire confidence among investors.
As Bumble prepares to report fourth-quarter results next month, the company noted alongside the CEO news that it expects to report app revenue “above the midpoints of previously provided forecast ranges.” It will also report adjusted EBITDA within the range of reported expectations.
In November, the company expected fourth-quarter revenue to be between $256 million and $262 million, with adjusted EBITDA expected to be between $70 million and $73 million.
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