• by Colin Kirkland , Yesterday

Dating app Bumble announced Wednesday that it plans to lay off 30% or 240 of its employees, highlighting a recent trend in the dating app ecosystem.

The expected job cuts will affect both the Bumble Dating App and Bumble For Friends, a sister app that promotes new friendships among strangers. 

In 2021, Bumble sold its stock at $43 per share and raised $2.2 billion from investors. On its first day of public trading, the company grew by 63% and closed at $70.30 per share, making it worth almost $8 billion, then rising shortly after to $15 billion.

Bumble was originally designed for women to send the first message to their match. 

Four years later, Bumble’s worth has plummeted, with its stock trading at only $6.44. In the company’s first quarter report this year, it showed an 8% decrease in revenue over the past year and a loss of 2.7 million users year-over-year. 

Bumble’s slump mirrors the recent state of other leading dating app companies.

Match Group, the parent company of Hinge, OKCupid, Plenty of Fish and Tinder, has undergone major staffing changes and didn’t meet analysts’ expectations in the first quarter of 2025. 

Bumble says it will take on between $13 and $18 million in layoff-related charges, while expecting to save about $40 million of annual costs that it will invest back into tech and product development initiatives.