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bumble announcement Today that founder Whitney Wolfe Hurd is returning as CEO resignation From the location in 2023.
Wolf Hurd will replace Lydian Jones, the company’s current CEO who left for “personal reasons,” Bumble explained. Jones, the former CEO of Slack, will continue in his role at Bumble until the transition takes effect in mid-March.
It is not uncommon for founders to return as CEOs. Notable examples include the return of Jack Dorsey Twitter and Steve Jobs’ return to Apple. The reasons for such a return can vary, but founders are often a natural choice because they are closely aligned with the company’s mission and culture.
Wolf Herd’s return comes at an important time for Bumble, as the company faces sluggish growth. Results for the third quarter of 2024 published Total revenue fell to $274 million, although the number of paid users increased to 4.3 million. Additionally, Average Revenue Per Paying User (ARPPU) fell from $23.42 to $21.17. The return of the Wolfe Herd may inspire confidence among investors.
As Bumble prepares to announce its fourth-quarter results next month, the company indicated alongside the CEO news that it expects to report app revenue “above the midpoint of the outlook range provided previously.” It will report adjusted EBITDA within the published outlook range.
In November, the company estimated fourth-quarter revenue between $256 million and $262 million, with adjusted EBITDA expected to be between $70 million and $73 million.
