Bumble has a "freemium model," which means users can join and match for free. It earns the bulk of its revenue from in-app purchases and different subscription offerings like Bumble Boost, which starts at $12.99 a week, and its upgraded Bumble Premium, which starts at $17.99 a week.
The paid offerings let users do things like make their profile more prominent, see who's liked their profile first or set themselves to travel mode. It's a similar model to rival apps Hinge and Tinder, where users join and use the core functions for free but can pay for further use. For example, the price for Hinge's "preferred" membership is $19.99 per month. Bumble also makes a small amount of money from advertising and partnerships.
The company said it had 12.3 million monthly active users as of Sept. 30. Speaking to CNBC before the company's first trade, Wolfe Herd said the company is focusing its efforts on converting more of its user base to those paid customers by reinvesting in future monetization features and product offering.that it generated $376.6 million of revenue in the first nine months of 2020, with a net loss of $84.1 million. In that same time period in 2019, it brought in revenue of $362.
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The app is has a bot problem
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