In today’s world, new entrepreneurs open their business every day in different areas of global marketing. The majority of them are women. Approximately 252 million women worldwide are entrepreneurs, and another 153 million women are operating established businesses.
Companies greatly benefit from increased employment and leadership opportunities for businesswomen during the years, improving organisational effectiveness and growth. It is estimated that companies with three or more women in senior management functions score higher in all dimensions of organisational performance.
Who is the CEO of Bumble?
Whitney Wolfe Herd, CEO of Bumble, believes this practice is more than just a dating application but a method of altering men and women’s behaviour during the dating process. Here is why this is a challenging concept:
Herd, who established Bumble in 2014, is kindled by a vision of women empowerment. Women can make the first move in the dating and professional industries. It affects her hiring as 80% of the employees are female from the foundation to the executive level. It influences products as they made an enormous investment in apps like Bizz to improve the professional network. Policies affected by the mass shooting in the United States, which led to Herd banning all the images included guns, even though it led to some company losses.
Additionally, this enabled Herd to deploy her resources as last year’s advertisement, starring Serena Williams, persuaded tennis players to invest in her company and vision. It also empties into political promotion. She inaugurated and vigorously promoted a Texas Bill regarding harassment being illegal in Texas.
The law passed in June, with the same month Bumble launched a filter to remove unwanted photos from the app. She believes in designing a female internet to counter the Brotopia that built the male internet. When all technological platforms are misusing the user data, Bumble is opting for a proactive strategy by warning users about wicked content. In 2011, she co-founded Tinder, the dating app that works on the algorithm of swiping photos to show interest. Still, she left it, and settled later on, in 2015 and filled a discrimination case on the founder.
The success of the business created by women
Bumble declares more than 60 million users in 150 nations and reportedly predicts $300 million in last year income. They plan to build their other apps worldwide to improve the business inflow of revenues. All whilst competing with Tinder and their new apps such as Facebook Dating.
Bumble is a private organisation that earned $160 million in 2018 but shared with Fast Company. Moreover, they are preparing to raise the fund by public offering or receiving notable capital from investors.
The success results from Herd and her hard work and vision of making an organisation like this. Another reason is her idea of branding with a female message wrapped up bright and packaged. Branding is her competitive advantage and USP, as Bumble’s London based engineering resources have helped them to grow faster than other companies in the market. She believes that growth lies in extending into the real world by combining the digital and physical experience. They are launching a café and bar in New York this Autumn that allows them to meet in person in a safe environment. It is a way of marketing and advertising for the company.
Many friends and former employees recruited by Herd strengthen the company’s culture. Their employees worked hard to get Bumble on this level from 2014.