It’s a major milestone for the tech world- Whitney Wolfe Herd, co-founder and Chief Executive Officer at Bumble, has taken the company public and made history.
With this move, she has become the youngest woman to take a company public and has achieved an incredible feat.
Let’s take a look at how she made this happen.
Bumble CEO Whitney Wolfe Herd becomes the youngest woman to take a company public
Whitney Wolfe Herd designed Bumble, a dating and networking app founded in 2014 to empower women and amplify their voices. The U.S.-based organisation offers a blend of dating, friend-finding, social, and business networking services, making it unique within its industry.
Wolfe Herd has successfully grown Bumble over the years, right up to its 2020 Initial Public Offering (IPO). On February 11th, 2021 Bumble made its IPO on Wall Street leaving Wolfe Herd with a net worth of approximately $1.6 billion. She is now reported to be the youngest self made woman billionaire and the youngest female CEO ever to take a company public. Alongside this success Whitney has also grabbed headlines as an advocate for women’s empowerment and breaking glass ceilings around the globe.
In addition to being heavily active across social media platforms such as Twitter for highlighting causes she supports or believing in (including tackling sexual harassment or supporting female entrepreneurship and leadership) she co-founded multiple non-profit organisations such as Already Made PBC – an organisation dedicated to levelling playing fields for people around the world by providing equal access to work opportunities anywhere in the world without any digital hurdles from online education programs such as The Key Easy Safety Program, which are designed to teach digital safety via comprehensive education resources easy to access online – allowing everyone access to safe working practices across digital tools worldwide.
Early Life and Career
Whitney Wolfe Herd, CEO of the dating app Bumble, made history in 2019 when she took her company public at age 31, making her the youngest female CEO ever to do so. But before she even began her career in tech, Whitney Wolfe Herd had already been an entrepreneur, starting her first business at 19.
Before taking Bumble public, let’s look at Whitney Wolfe Herd’s life and career.
Education and Early Career
Whitney Wolfe Herd studied International Studies at Southern Methodist University, Texas. After completing her studies in 2012, she worked with Hatch Labs as a project manager and then with Cardify. Following this, she attended business school in Rome before joining Tinder’s dating app in 2013 as Vice President of Marketing. While at Tinder, Wolfe Herd started her own company focused on feminist initiatives Bumble declared that it was “putting an end to toxic masculinity” by building a platform for “kind interactions”. In 2014, she quit Tinder after alleging sexual harassment by CMO Justin Mateeen—a lawsuit later settled out of court.
The following year, Wolfe Herd founded Bumble. This location-based social and dating application looks to empower women in their relationships by only allowing them to make the first move. The platform also has BFF mode for meeting new friends, and options for people to date throughout the LGBT spectrum. In 2016 and 2018 ventures were launched into networking within BumbleIGlobal Networking site (BumbleBizz) and professional networking/development portion on the app (BumbleHive).
By 2018 Bumble had over 23 million users globally, enabling the company to go public via SPAC or ‘special purpose acquisition company’ in February 2021—making Whitney Wolfe Herd the youngest female CEO ever to take her company public.
Founding Bumble
Whitney Wolfe Herd is the founder, CEO and co-owner of Bumble Inc., a social network designed to help connect people in romantic, friendly, and business relationships. Bumble is well-known for being the first company to launch a female-first dating app, allowing women to make the first move when meeting someone online. The app was initially launched in 2014 as a direct competitor to Tinder, but after gaining traction from users, it branched out into new fields such as networking and matchmaking.
In 2019 Wolfe Herd took Bumble public on NASDAQ through an initial public offering (IPO). This made her the youngest woman to take a company public at age 31. In 2020, Wolf Herd was named the first self-made billionaire by Forbes magazine thanks to her success with Bumble—and she has continued her mission with other philanthropic endeavours such as launching an organisation that works to end predatory behaviour online called SayItForward.
Taking Bumble Public
In March 2020, Bumble CEO Whitney Wolfe Herd made history when she became the youngest woman ever to take a company public. She achieved this feat by leading Bumble into the public markets with a successful IPO.
In this article, we’ll explore the process and journey that Wolfe Herd and her team at Bumble took to successfully launch their public offering.
Building a Strong Foundation
To take Bumble public, Bumble CEO Whitney Wolfe Herd laid a strong foundation for the company. First, she created a strong team of executives and employees that she believed could handle publicising the company. Next, she secured financing through an investment from private equity firm Blackstone before embarking on its initial public offering (IPO).
Finally, Wolfe Herd worked with investment banks Goldman Sachs and JPMorgan Chase to generate interest in Bumble’s IPO by engaging in “roadshows” throughout North America. By meeting investors face-to-face, Wolfe Herd could secure capital investments before taking Bumble public and answer any questions they may have had about the company.
Overall, this comprehensive approach allowed Wolfe Herd to manage expectations while gaining more Bumble shareholders before its debut on the Nasdaq Exchange—making her officially the youngest woman ever to take a tech company public at age 31.
Going Public
Whitney Wolfe Herd accomplished a historical moment when she took the global social networking platform Bumble public in February 2021. This momentous achievement marked a record-shattering feat, as it was the first time a U.S-based woman led and fully took a company public. Before this moment, no woman founder in the U.S had ever taken their company into an initial public offering (IPO).
The IPO raised over $2.2 billion, with Bumble shares priced at $43 per share and rose to $70 on its first day of trading. With this successful launch, Whitney Wolfe Herd became the youngest female CEO to take her company public. She joined an exclusive club of female founders who have accomplished such significant milestones for women entrepreneurs.
Since its launch in 2014, Bumble has grown from a dating app platform into a social network that provides users with potential relationships and matches them with like-minded individuals through its various products – including Bizz (networking service), BFF (friendship), and Chizz (LGBTQ+ dating services). With operations around the globe, Whitney Wolfe Herd’s successful IPO solidified her place as one of the most outstanding female entrepreneurs of our time – paving the way for other aspiring business women everywhere.
Becoming the Youngest Woman to Take a Company Public
In 2020, Bumble CEO Whitney Wolfe Herd made history by becoming the youngest woman to take a company public. Wolfe Herd created Bumble in 2014 as a dating app designed to enable people to connect safely and securely.
Bumble became one of the most well-known dating apps, and its success earned it a place on the public markets. The company had an annual revenue of $785 million in 2020, an increase of 70% from 2019. On February 11, 2021, the company closed its first day of trading with an estimated value of $8 billion.
Wolfe Herd’s successful public offering was a landmark moment for female CEOs and entrepreneurs worldwide. She became one of few women to break into a male-dominated field by publicising her business. Yet, despite this lack of representation in business leadership roles, Wolfe Herd achieved what many thought was impossible and set an example for young women everywhere, inspiring entrepreneurs to think bigger and act boldly in pursuit of their dreams.
Conclusion
In conclusion, Whitney Wolfe Herd’s innovation and tenacity have made her the youngest woman to take a company public. Bumble’s IPO was a successful move for the company, which has since seen continued business growth and expansion. In doing so, she has inspired young entrepreneurs everywhere, showing that anything is possible with dedication and hard work.
Summary of Whitney Wolfe Herd’s Achievements
Amid the pandemic, businesswoman and technology executive Whitney Wolfe Herd became the youngest female CEO to take a company public. The successful Bumble chief executive oversaw one of 2020’s largest tech IPOs.
Wolfe Herd founded Bumble in 2014 to create a safe space for singles looking to date, after years of working in the technology industry as part of Tinder’s founding team. After six years and considerable investment, Wolfe Herd brought Bumble public in February on the Nasdaq Stock Market with a market capitalization of over $8 billion.
Since then, she has served as CEO of Bumble and has become an example for women across her generations with her continued success at leading the social networking firm. Under her leadership, by 2021 it had achieved 700 million app downloads and more than 100 million active users worldwide.
Throughout her career, Whitney Wolfe Herd has experienced great success in bringing innovative products to market including launching networks connecting people with shared interests and experiences and invoking change by empowering women’s safety online and offline through initiatives such as acknowledging Domestic Abuse Awareness Month every October. As a shining example of challenging conventions and powering strengths through difficult times, Whitney Wolfe Herd is pioneering for future generations what hard work can bring about—true determination combined with inspired thinking can bring about positive change that improves everyday lives.
Tech expert fresh from the Australian Coast. Been in the tech industry more than 9 years, as part of a Business Growth Group. His out of office days are 100% for freestyle surfing and waves chasing.
