Bumble Founder Hands Reins to Seasoned Tech Exec as CEO

Dating app Bumble is getting a new CEO for the first time in its nearly 10-year history. Founder Whitney Wolfe Herd announced she is stepping down from the top role and will be succeeded by Lidiane Jones, an experienced tech executive who currently leads the workplace messaging app Slack.

The change in leadership comes at a pivotal moment for Bumble and the broader online dating industry. While the apps saw enormous growth during the pandemic as single people sought connections virtually, the reopening of bars, restaurants, and other venues has led to a drop-off in paying users across the sector.

Bumble’s share price has fallen over 80% from its peak after the company went public in early 2021. Rival Match Group, the parent of Tinder and Hinge, recently reported a decline in subscribers as inflation weighs on consumers’ wallets. Analysts say the uncertain economy could further dampen users’ willingness to pay for premium subscriptions.

Against this backdrop, Jones will take the helm on January 2nd after completing her tenure at Slack. The tech veteran brings over 25 years of experience that includes senior roles at Microsoft, Sonos, and Salesforce, Slack’s parent company.

Bumble founder Wolfe Herd, 33, will remain closely involved as executive chairwoman. She said the transition allows her to focus on innovation and the company’s long-term strategy. “It’s a monumental moment, one that has taken a great deal of time, consideration, and care, for me to pass the baton to a leader and a woman I deeply respect,” Wolfe Herd said in a statement.

A Trailblazer in the Online Dating Industry

Wolfe Herd has been a trailblazer in the male-dominated dating app sector. She co-founded rival service Tinder in 2012 and served as VP of marketing, helping spark its rapid growth among young users.

But Wolfe Herd left Tinder in 2014, leveling allegations of sexual harassment and discrimination against fellow executives. The dispute was eventually settled out of court.

The experience led Wolfe Herd to think about how dating apps could be designed to empower women. She founded Bumble shortly after, structuring it around the idea that only female users could make the first move on potential matches.

The app quickly caught on for offering women more control in dating. Within five years, it had amassed over 50 million users worldwide. The company also expanded Bumble into a multifaceted platform by adding friend-finding and career networking features.

Wolfe Herd’s partners in launching Bumble included Russian billionaire Andrey Andreev, founder of the dating app Badoo. Andreev later stepped back from Bumble after being accused of making racist and sexist comments about employees.

Bumble’s blockbuster IPO last year propelled Wolfe Herd into the elite ranks of America’s youngest self-made female billionaires. But she also faced scrutiny about everything from her use of private jets to the app’s algorithms.

While Wolfe Herd succeeded in building Bumble into a cultural force, analysts say operational challenges remain in converting the app’s millions of users into paying subscribers. Investors are looking for Jones to bring steadiness during uncertain economic times.

Bumble Lands an Admirer as Its New CEO

For her part, Jones brings deep experience spanning product development, engineering, and cloud computing at some of tech’s biggest names.

Before becoming CEO of Slack in 2021, Jones held senior positions at Microsoft for over a decade earlier in her career. She led engineering teams focused on database systems and business tools like SharePoint.

Jones joined Salesforce in 2018 and rose to become executive vice president of the cloud giant’s digital experiences group. She was involved in several major acquisitions before being tapped to run Slack amid its integration into Salesforce.

At Bumble, Jones will inherit the dual challenges of reviving subscriber growth and fully merging the company’s four dating apps into a cohesive platform.

Analysts say she will likely focus on refining products for different demographics and geographic markets. For example, Fruitz is targeted at Gen Z users and has gained traction overseas.

In a statement, Jones said she has long admired Bumble’s mission and values around empowerment and kindness. “I am grateful to have the support of my colleagues at Slack and Salesforce as I embark on this new journey,” she added.

Wolfe Herd Will Stay On as ‘Founder to the Core’

Meanwhile, 35-year-old Wolfe Herd describes her new role as getting “back to my founder roots.” She aims to concentrate on developing innovative features and offerings that could fuel Bumble’s next stage of expansion.

There has been some speculation Wolfe Herd is stepping back to focus on her family. She married famed tech investor Michael Herd in 2018 and they have a young son.

But Wolfe Herd will remain deeply involved. She told the Wall Street Journal, “I’m founder to the core. This founder is not going anywhere.”

As executive chairwoman, Wolfe Herd will provide guidance but not be immersed in day-to-day operations. The dual female leadership team offers a prime opportunity for Bumble to solidify its brand around women’s empowerment.

Jones will officially take over the helm on January 2nd. Until then, she splits her time wrapping up matters at Slack while strategizing for the future at Bumble.

For Bumble investors, the eyes will remain on executing a smooth transition and returning the company to a growth trajectory amid choppy economic crosscurrents. Jones’ experience suggests she has the steady hands needed to navigate the road ahead.