Feminist dating app Bumble and online dating behemoth Match Group are locked in a bitter war with each other. The two dating applications have officially declared their relationship “complicated,” and it looks as though the war will be a long and bloody one. Each company has filed a lawsuit against the other citing various reasons, but most notably copyright infringement, stolen confidential information, and fraudulent behavior.
To make matters even more complicated is the intricate history Bumble has with Tinder, a subsidiary of Match Group. Bumble’s founder and CEO Whitney Wolfe-Herd is the former co-founder and vice president of marketing for Tinder.
She left the company in 2014 after filing a sexual harassment lawsuit against her former boss and boyfriend, Justin Mateen. The suit was settled out of court for an estimated $1 million, but that doesn’t mean that Whitney Wolfe-Herd’s struggles were over just yet.
After the kerfuffle with Tinder, Wolfe founded Bumble, a women-centric dating app, where ladies were encouraged to “Make the first move.” Wolfe’s inspiration was empowering women, giving them a safe space to approach the opposite sex with confidence and ease. “Women should be able to do that without shame, guilt or blame,” Wolfe later stated to Biz Journals.
As it turns out, the online dating world needed exactly that. Bumble’s growth has been tremendous over the last few years, with more than 30 million users by 2018. “We took great strides in 2016 towards changing the stereotypical gender dynamics in dating. Women made the first move more than 200 million times on Bumble,” the company would later announce.
Whitney Wolfe-Herd has fundamentally changed the online dating world, empowered women, and seemingly made the process of finding love less stressful and more delightful. With such a successful launch, it was only a matter of time before the Salt Lake City native would find her own fairytale ending.
In September 2017, the mogul would marry longtime boyfriend and Texas oil heir, Michael Herd in a lavish ceremony in Positano, Italy.
Soon other suitors would be knocking on Wolfe-Herd’s door. Namely, Match Group the online dating behemoth which owns sites like Match.com, PlentyofFish, OkCupid, and of course Tinder.
Match Group began courting Bumble in the summer of 2017 with an offer to buy the dating service and fold it into its other online dating subsidiaries. When Match Group made an offer of $450 million dollars, Wolfe-Herd turned the offer down, stating the that Match Group had “lowballed,” her company’s worth.
Indeed this may have been the case, considering that Bumble at the time had obtained a valuation of nearly $1 billion. This is when things took a turn for the worst. In early March of this year, Match Group filed a lawsuit in Texas stating that Bumble violated two of its copyright patents, and may have stolen “confidential information related to proposed Tinder features.”
Match Group claims that former Tinder employees, turned Bumble executives, Chris Gulczynski and Sarah Mick stole secret information from Tinder, including information about the apps design patent, the famous swipe-to-connect feature.
Not to be intimidated or backed into a corner, Bumble countersued later in the month, arguing that Match Group interfered with its business operations through fraudulent means. Bumble was seeking $400 million in damages.
Bumble claims that Match Group’s lawsuit is an attempt to hurt Bumble’s chances of selling equity investment or the company altogether. In the complaint, Bumble stated, “Unwilling to pay fair value for Bumble, Match tried to poison Bumble in the investment market by filing bogus intellectual property claims to wrongfully disparage the Bumble platform.”
Additionally, Whitney Wolfe and company wrote an extensive reply to the Match Groups lawsuit on its website, stating “We swipe left on you. We swipe left on your multiple attempts to buy us, copy us, and, now, to intimidate us. We’ll never be yours. No matter the price tag, we’ll never compromise our values.”
A bold and strong statement from a company comprised mostly of women, and headed by one of the most empowering women in today’s era. Whitney Wolfe-Herd continues to inspire despite the challenges facing her.
In fact, she’s looking toward the future, further developing Bumble BFF, a platonic offshoot of Bumble that focuses on connections between women. And Bumble Bizz which is looking to give LinkedIn a run for its money.
The valuation of Bumble continues to increase and does the number of users. Wolfe-Herd has a lot to be proud of, the lawsuits are only a step in the right direction not only for her but women everywhere who refuse to be bullied especially in the era of #MeToo.
Wolfe-Herd continues to change the conversation about women and women in business and her David vs. Goliath struggle with Match Group will show that women-led businesses can challenge the male-dominated world of business and win. Not bad for an International Studies major from Southern Methodist University. Whitney Wolfe-Herd is an inspiration to every woman.
Paul Mampilly is an American investor and senior editor of Profits Unlimited Newsletter. Paul Mampilly was born in India, but came to the United States to make his mark in the investment world.
After High School, Paul Mampilly attented university at Montclair State University in New Jersey. There he earned a BBA in both finance and accounting. He later went on to earn a MBA in finance from Fordham Gabelli School of Business in New York, New York.
Bitcoin is up an astonishing 1,172% in the last 12 months, hitting a high of more than $11,000.
— Paul Mampilly (@Paul_M_Guru) November 30, 2017
He started his career in 1991 as an assistant portfolio manager at Bankers Trust and quickly advanced in the field and held prestigious positions at Deutsche Bank and ING managing multi-million dollar accounts.
In 2006, he joined a $6 billion firm and, under his management, the firm’s assets skyrocketed to $25 billion. This got people’s attention, specifically the Templeton Foundation.
The Templeton Foundation holds a very prestigious investment competition where each competitor is given $50 million to invest during a 2-year period. Paul Mampilly’s competition was held during the economic crisis of 2008/2009. Despite this, he managed to win the competition with a 76% return. To add to this, he did it without shorting stocks or taking huge risks.
Paul continues to take interest in the investment world. For example, he founded Capuchin Consulting which is a consulting firm that provides investment idea to professional investors.
Mampilly is also a senior editor for the Profits Unlimited Newsletter.
Profits Unlimited is a newsletter that provides you with Paul’s investing system in a way that accessible to everyone regardless of how much money you have. You are also provided with weekly updates, monthly briefings, and 24/7 access to his website. Essentially, you become part of his inner circle and gain insight from Paul himself.
Recently, Paul released a video which blew up on the Internet. This led to him gaining a massive online following. His Facebook, for example, has thousands of followers and he releases multiple updates containing articles and tips for investing.
Paul is saying that our current energy grid cannot sustain the amount of energy we will need in the future. Because of this, he recommends investing in renewable natural energy companies in 2018. These kinds of companies are a good bet for massive returns.
The bitcoin bubble is a pretty big deal. People who invested in bitcoin early made unbelievable returns. A $10,000 dollar investment ended up being worth nearly $200,000. Mampilly believed that bitcoin would crash. He stated that the problem with investment bubble investors is that they tend to become emotionally attached to their shares and miss the chance to sell. Extreme Fortunes by Paul Mampilly, 10,000% Marijuana Stock
People said Mampilly was just upset he didn’t invest early, but he was right. Bitcoin crashed.
Susan McGalla is a successful woman in the business industry. She is an executive advisor from Pittsburgh Pennsylvania. She used to work at America Eagle Outfitters and was president of the firm. She pursued a bachelor’s degree in Mount Union College and got a degree in business and marketing. She also sits on the board of the college. Susan McGalla also served as the CEO of Wet Seal Inc. at the moment she is on the board of HF Inc. the company provides valuable real estate buildings. Furthermore, she is the director of Allegheny and part of Magee-Women’s Hospital Research.
From 1986 to 1994 Susan handled marketing and management at an organization called Joseph Home Organization. After a while, she went to America Eagle Outfitters. She is a steel woman who works hard to achieve success, her skills were tremendous in this company and as a result, she served various posts. For instance, she took care of sales of outfits that were worn by women. Furthermore, McGalla was also in charge of different company management. Her incredible work at the company that brought success saw her become the chief merchandising officer as well as president of the firm.
She made a great name for America Eagle Outfitters and decided to leave the
organization and focus on being a private consultant for financial investment and various trade companies. Presently, Susan serves as the president of Pittsburgh Steelers. She handles the creative growth and business tactics of the firm. At the University of Pittsburgh Cancer Institute, Susan serves as a council member. As indicated before, Susan is a strong woman who works hard to be accomplished in all the paths that she takes. She is a role model to the women, who are inspiring to do well. She is pleased with her work as a private consultant.
Read more about Susan McGalla: http://www.prnewswire.com/news-releases/susan-mcgalla-on-being-both-a-woman-and-a-leader-300016893.html
Susan McGalla is an executive consultant and businesswoman from Pittsburgh, Pennsylvania. She was born in East Liverpool Ohio where her father was a football coach she was brought up together with 2 brothers. She attended Mount Union College and graduated with a bachelor’s degree in business and marketing. She then went on to join the board of directors of her former college some years late bringing a wealth of knowledge to the team.
After graduating from college she began working for Joseph Horne Company from the year 1986 she served in various capacities starting from marketing positions working her way up to later hold senior managerial positions. After leaving the company she immediately joined American Eagle Outfitters her first role was divisional merchandise buyer women’s clothing. Her streak of hard work and excellent delivery would propel her through various managerial positions she held in the organization culminating in her being appointed chief merchandising officer and then company president. During her tenure as president, she was responsible for overseeing the development of various new brands in the company the most notable being aerie and 77kids.
In 2009 after a very successful tenure, she left the organization to venture into private practice. Her passion for retail and financial investment saw her become one of the top consultants in the country. This is a field she had so much experience and had successfully overseen companies that dealt primarily with retail which meant it is a field she understood in and out. Susan then went on to open P3 Executive Consulting in 2013 immediately propelling her to being an authority in matters finance and retail and from that point on she consults for top organizations and executives looking for insight in the retail sector.
Susan McGalla wears many other hats and holds many positions in different capacities which are a reflection of her diverse capabilities these positions include member of the board of HFF Inc, at the Pittsburgh Steelers she is Vice President of Business Strategy and Creative Development, she sits on the board of Magee-Women’s Hospital and is director of the Allegheny Conference on Community Development.With such level of responsibility, McGalla is not just a business leader but a proven performer with a proven track record and is one of the most revered women in retail.
Read more about Susan McGalla:http://www.prnewswire.com/news-releases/susan-mcgalla-on-being-both-a-woman-and-a-leader-300016893.html