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Lavender marriages historically helped conceal sexual orientation, but Gen Zers are redefining it. To share the load, some are opening up applications for "lavender marriages" — something that was once the preserve of the LGBTQ+ community. AdvertisementBut lavender marriages have made a resurgence on social media in recent months among Gen Zers who are tired of being broke, single, and lonely. AdvertisementA modern-day lavender marriageTraditionally, a lavender marriage was just that — a legally binding marriage. They said lavender marriages were "looking more appealing by the day" and that the agreement might be what they "really need."
Persons: Lavender, , Gen Zers, Robbie Scott, Edward Reese, Reese, Christine DeVore, Zers, Aleksandr Zubkov, Sofie Roos, Roos, Bumble, Cleopatra, millennials, Z, DeVore Organizations: Service, Birch Psychology, of Labor Statistics Locations: Washington
Piper Sandler upgrades Accenture to overweight from equal weight Piper upgraded the IT company following its earnings report. Goldman Sachs reiterates Costco as buy Goldman says it's sticking with the stock following earnings on Thursday. Citi downgrades Dollar General to sell from neutral Citi says it sees too many competitive challenges. JPMorgan adds Best Buy to the focus list JPMorgan says it sees an "improving product cycle" for Best Buy. Bank of America downgrades HP to neutral from buy The firm says it sees slowing earnings per share growth.
Persons: Morgan Stanley, Wynn, Piper Sandler, Piper, Goldman Sachs, Goldman, it's bullish, it's, Raymond James, Mercado, Roth MKM, Roth, Cantor Fitzgerald Organizations: Wynn Resorts, Deutsche Bank reinstates Dell, Deutsche, DELL, NASDAQ, Costco, " Bank of America, Apple, Bank of America, Apple Intelligence, UBS, Vista Energy, Citi, Pepsi Citi, Catalyst, Walmart, Cava, Mercado Libre, JPMorgan, Chesapeake Energy, Barclays, Netflix, HP Locations: UAE, Macau, BMBL, CAVA, HPQ
Deutsche Bank reinstated Dell Technologies as a buy, calling for nearly 14% upside. 7:04 a.m.: Citi says Walmart remains a top pick, hikes price target Walmart is poised for more growth ahead, according to Citi. The firm upgraded the stock to overweight from neutral and raised its price target by $66 to $395. WYNN mountain 2024-08-30 WYNN month to date — Sean Conlon 5:49 a.m.: Deutsche Bank reinstates Dell Technologies as buy The stars are aligning for Dell Technologies , according to Deutsche Bank. Analyst Matt Niknam resumed coverage of the PC maker with a buy rating and a price target of $144, which implies upside of nearly 14%.
Persons: Morgan Stanley, Paul Lejuez, — Sean Conlon, Piper Sandler, Accenture Piper Sandler, Arvind Ramnani, GenAI, Ramnani, Sean Conlon, Bumble, Justin Patterson, Patterson, Stephen Grambling, WYNN's, they've, Matt Niknam, Niknam, DELL, Fred Imbert Organizations: CNBC, Deutsche Bank, Dell Technologies, Wynn Resorts, Citi, Walmart, Accenture, Markets, Wynn, Las, MGM Resorts, Caesars Entertainment, Deutsche Bank reinstates Dell Technologies, DELL, Dell Locations: Grambling, UAE, WYNN
AdvertisementJoshi's dating app, Friend of a Friend, has ads plastered around New York City. AdvertisementThe anti-swipersWhen setting out to build a dating app, swiping fatigue was top of mind for Vaish Sesetty and Cyrus Belsoi, the founders of the dating app Pique. AdvertisementLast year, Chernyak followed her frustration out of her legal career and launched the video-profile dating app Fast-Forward Dating App with two cofounders. AdvertisementThe Instagram DMsOne of the biggest dating apps isn't even a dating app — it's Instagram. Fast-Forward Dating App is a video-profile dating app where users answer five questions on camera with no edits or filters.
Persons: , Forbes, who'd, Serena Kerrigan, Kerrigan, Rex Woodbury, Vaish Sesetty, Cyrus Belsoi, Belsoi, Karima Ben Abdelmalek, France who's, Abdelmalek, they've, Happn, Joe Feminella, Feminella, Hannah, Elle Wilson, Wilson, Danielle Dietzek, Julie Griggs, Fourplay, Nicole Fara Silver, Dietzek, Anushka Joshi, Friend, Joshi, Derek Lee, Lee, Boo, David Chang, Richard Chang, Katya Chernyak, Chernyak, Aeen Avini, Victoria Todis, Bumble, Nandini Mullaji, Mullaji, Chad DePue, who's, Jeremy Liew, Sitch, Alex Weitzman, hasn't, Weitzman, Amori, Tabitha, Ethan, Pique, Lieu Organizations: Service, Match, Business, Bradley, Microsoft, Daybreak Ventures, Amazon Web Services, Manna, New, Lightspeed Locations: New York City, York City, Paris, TikTok, Park, Brooklyn, France, singlehood, Victoria, Chicago, Los Angeles, Phoenix, Sitch
But, since then, the apps seemed to have changed the way dating worked. Celibacy and a different approach to dating are, to me, the only answers to the kind of dehumanizing behavior the apps today provoke. AdvertisementThe author stopped using dating apps and only dates men she already knows. Dating apps throw people together with none of the social glue that binds us in our IRL trusted networks. Some people might call this style of dating "friends with benefits," but I don't.
Persons: Tinder, Bumble, I've, We'd, who'd, we're, I'd Organizations: Service, National, coy, Facebook, IRL Locations: Spain, Ireland, Istanbul
Bumble wants to use AI to give you fewer matches on its app. But the people you do match with will be better, CEO Lidiane Jones said at a conference Tuesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSome day, AI could mean you get matched with fewer people on Bumble. This story is available exclusively to Business Insider subscribers.
Persons: Bumble, Lidiane Jones, Organizations: Service, Everything, Wall, Business
Read previewDating app Bumble is in hot water over an ad campaign that appeared to make fun of celibacy as an alternative to dating. The campaign featured billboards that bore the message: "You know full well a vow of celibacy is not the answer." Some said the ads were misogynistic and were chastising women for not casually sleeping with men. "Our ads referencing celibacy were an attempt to lean into a community frustrated by modern dating, and instead of bringing joy and humor, we unintentionally did the opposite," it said. AdvertisementBumble's apology post recognized that celibacy was a lifestyle many women choose for various reasons, including asexuality, trauma, or harm.
Persons: , TikTok, Bumble, Lauren Salaun, Cecilia Regina, Regina, Julia Fox, Whitney Wolfe, concierges Organizations: Service, Business, National, Bloomberg Technology Summit, AP Locations: South Korea
Bumble's founder discussed how AI could influence dating at the Bloomberg Technology Summit. Whitney Wolfe Herd said "AI dating concierges" could court each other on humans' behalf. She said AI could also help modern daters become better flirts. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Bumble founder Whitney Wolfe Herd discussed how AI could influence modern dating at the Bloomberg Technology Summit this week.
Persons: Whitney Wolfe Herd, , Bumble, Emily Chang, Wolfe Herd Organizations: Bloomberg Technology Summit, Service, Business
About a year and a half after going public, Grindr is starting to win Wall Street's praise. Over the past two weeks, three investment firms began coverage of the dating platform focused on LGBTQ+ men. That focus, once something seen as taboo or unappealing in society, is a plus for analysts, who say the qualities typically associated with gay men make them a solid consumer base to cater toward. "While LGBTQ[+] acceptance is rising, Grindr can help gay men meet for a wide range of purposes under a wide range of societal conditions." "Grindr has established itself as the leading LGBTQ+ social dating app through strong brand awareness, despite its relatively nascent tech.
Persons: Grindr, Raymond James, Andrew Marok, Marok, Nicholas Jones, Jones, GRND, LSEG, Bumble, TD Cowen, John Blackledge, Raymond James ' Marok, Blackledge Organizations: U.S
Bumble CEO Lidiane Jones told investors the dating app will look different when it relaunches. AdvertisementBumble might work differently for female users when the dating app relaunches later this year. During a Q4 earnings call, Jones told investors that she's not so sure about women "making the first move" on Bumble anymore. Talks of removing the feature began under Wolfe Herd, but Jones began overhauling Bumble when she took over in November. AdvertisementBumble marketed itself as a female-focused dating app.
Persons: Bumble, Lidiane Jones, Jones, it's, , she's, Whitney Wolfe, Wolfe Herd, Slack Organizations: Service, Google
Although small-cap stocks have taken a hit so far this year, Goldman Sachs thinks expectations of a healthier economic backdrop make the group look attractive — especially since they're already trading at fairly cheap valuations. Analyst Eric Sheridan initiated shares at a buy with a $16.50 price target in December. Goldman thinks shares could gain more than 50% over the next year, according to last week's closing price. Solar equipment company Shoals Technologies is another Goldman small-cap favorite. Other small-cap companies Goldman likes include coconut water company Vita Coco , food packaging company Sealed Air and crowd-sourced reviews platform Yelp .
Persons: Goldman Sachs, Russell, Deep Mehta, Mehta, Eric Sheridan, Goldman, — Goldman, Shoals, Tinder, Vita Coco, — CNBC's Michael Bloom Organizations: Goldman, Technologies, Barclays Locations: Wells, Wednesday's
Lidiane Jones, Bumble's new CEO, has her work cut out for her to improve the company's outlook. The former Slack CEO has never led a public company before, and Bumble's stock isn't doing well. Jones told Financial Times she sees herself as an "underdog" — and that will work to her advantage. "The immigrant and the scholarship — I think that's probably as underdog as I can get," Jones told the outlet in an article published Friday. Jones told the Financial Times.
Persons: Lidiane Jones, Jones, , app's, Whitney Wolfe, Slack, Bumble, she'd, Herd Organizations: Slack, Financial, Service, Stock, Financial Times Locations: Brazil
Bumble forecasts weak fourth-quarter revenue, shares fall
  + stars: | 2023-11-07 | by ( ) www.reuters.com   time to read: +2 min
Match last month, however, forecast fourth-quarter revenue below market estimates, reflecting the impact of a strong dollar and risk to revenue from Israel against the backdrop of the Middle East conflict. Total paying users across Bumble's apps including Badoo and Fruitz increased to 3.8 million in the third quarter, compared with 3.3 million a year earlier. Austin, Texas-based Bumble expects revenue for the quarter ending Dec. 31 to be between $272 million and $278 million, compared with analysts' estimates of $285.9 million, according to LSEG data. Total average revenue per paying user increased to $23.42 in the third quarter, compared with $22.96 a year earlier. The company posted revenue of $275.5 million, compared with estimates of $277 million.
Persons: Mike Segar, Bumble, Whitney Wolfe, Lidiane Jones, Jaspreet Singh, Shounak Dasgupta, Shilpi Majumdar Organizations: Nasdaq, Inc, REUTERS, Wall, Slack, Match, Thomson Locations: New York City , New York, U.S, Israel, Middle East, Austin , Texas, Bengaluru
Bumble shares drop as founder Wolfe Herd to relinquish CEO role
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Bumble CEO Whitney Wolfe Herd has her photo taken on the red carpet after arriving for the TIME 100 Gala in Manhattan, New York, U.S., April 24, 2018. She will take over on Jan. 2, while Wolfe Herd will remain executive chair. "Lidiane's expertise and track record in product and technology is exceptional," said Wolfe Herd as the company looks to adopt artificial intelligence across its products. Wolfe Herd, 33, launched the company in 2014 after an acrimonious departure from Match Group-owned rival app Tinder, which she had co-founded. This is the second big executive departure this year at Bumble following the exit of President Tariq Shaukat, who stepped down after three years in the role.
Persons: Bumble, Whitney Wolfe Herd, Shannon Stapleton, Whitney Wolfe, Lidiane Jones, Jones, Slack, Wolfe, Wolfe Herd, Gen, Tariq Shaukat, Yuvraj Malik, Maju Samuel, Arun Koyyur Organizations: REUTERS, Microsoft, Match Group, Bumble, Thomson Locations: Manhattan , New York, U.S, Eastern Europe, Bengaluru
When Wolfe Herd took Bumble public in 2021, she became the youngest female CEO to make such a move. Before Bumble, Wolfe Herd cofounded rival dating app Tinder. Wolfe Herd is married to a Texas oil heir, has two kids, and splits time between her homes in Texas. AdvertisementAdvertisementWhitney Wolfe Herd is stepping down as CEO of dating app Bumble after nearly 10 years at the helm. Keep reading to learn more about Bumble cofounder Whitney Wolfe Herd.
Persons: Wolfe Herd, , Whitney Wolfe, Bumble, Drena Kusari, We're, Wolfe Organizations: Service, Fast Company, Company Locations: Texas
DANA POINT, CALIFORNIA - SEPTEMBER 27: Whitney Wolfe Herd, Founder & CEO, Bumble speaks onstage during Vox Media's 2023 Code Conference at The Ritz-Carlton, Laguna Niguel on September 27, 2023 in Dana Point, California. (Photo by Jerod Harris/Getty Images for Vox Media)Whitney Wolfe Herd, founder and CEO of the dating app Bumble , is stepping down from her role at the helm of the company early next year. She will be succeeded by Lidiane Jones, CEO of Salesforce's cloud-based messaging platform Slack, on Jan. 2, 2024, according to a company release Monday. She will transition to a new role as executive chair when Jones takes over as CEO. She added that she is "grateful to have the support of my colleagues at Slack and Salesforce."
Persons: POINT, Whitney Wolfe Herd, Bumble, Vox, Jerod Harris, Wolfe Herd, Lidiane Jones, Jones, Slack, Salesforce Organizations: The Ritz, Carlton, Getty, Vox Media, Microsoft, CNBC PRO Locations: CALIFORNIA, Laguna Niguel, Dana Point , California
I'm fucking done," she told a reporter at Time, who described Wolfe Herd as "blinking back tears" during the interview. "My hands are tied," Wolfe Herd told the audience, according to several people who were in the room. Wolfe Herd once called him her biggest mentor, saying, "He's become my family and one of my best friends." Some early employees said they only found out about the shadow-equity program, and who received it, years later. Based on the current share price, Wolfe Herd is no longer a billionaire, though her fortune still sits at an estimated $627 million.
Persons: Whitney Wolfe Herd, Andrey Andreev, Wolfe Herd, Bumble, Whitney Wolfe, Wolfe, Bumble wasn't, Charley Gallay, I've, Robbie McKay, McKay, Jerod Harris, Sarah Mick, Bumble's, That's, Mick, Justin Mateen, Tinder, Antoine Antoniol, Andreev, What's, He's, , Jody Thelander, Alexandra Williamson, Samantha Fulgham, Chelsea Maclin, Caroline Ellis Roche, Michael Herd, they'd, Taylor, they're, Vivien Killilea, didn't, Charles Elson, Elson, Blackstone, Forbes, Ben Bergman Organizations: Worldwide Vision, Nasdaq, Carlton, Getty, Fortune, Andreev's, TechCrunch, Southwest, telltale, Founders, Chelsea, Austin, Ritz, Mailchimp, Intuit, University of Delaware, Twitter Locations: Russian, Austin, Los Angeles , California, Bumble, Northern California, Deer Valley , Utah, Punta Mita , Mexico, Tinder, London, Bermuda, WVL, San Francisco, Texas, Positano, Italy, Bay, Atlanta, MagicLab, Badoo, bbergman@insider.com
Bumble had a "modest budget" at the time, Wolfe Herd said in a MasterClass course released on Thursday. Instead of traditional marketing campaigns, Wolfe Herd put together a series of "crazy hacks" to drum up interest in her Austin, Texas-based startup, she said. Wolfe Herd used a similar tactic with college fraternities, dropping off pizza with branded bumblebee stickers slapped onto the cardboard boxes. For Wolfe Herd, the momentum was validating. Seven years after launching the app, Wolfe Herd became the youngest female founder in history to take a company public.
Persons: Whitney Wolfe Herd, Bumble, Wolfe Herd, , Fortune, Andrey Andreev, Forbes, She'd, Wolfe Organizations: Badoo, Aspen Ideas, Bumble Inc, CNBC Locations: Austin , Texas, Aspen , Colorado
Check out the companies making headlines in premarket trading. Nike — The sneaker behemoth added nearly 10% in premarket trading after a mixed earnings report. Brinker International — The Chili's parent climbed 4% after Stifel upgraded the stock to buy from hold. Editas Medicine — The genome editing company popped 9% in premarket trading following a Stifel upgrade to buy from hold. Ball — Shares added 1.7% in premarket trading after the aluminum-can maker was upgraded by Jeffries to buy from hold.
Persons: Brinker, Stifel, Jeffries, , Northcoast, CNBC's Brian Evans, Pia Singh, Jesse Pound, Michelle Fox Organizations: Nike, Opry, LSEG, Uranium Energy, Wonder Group, Anheuser, Busch InBev —, Bank of America, Stifel, KFC, Research Locations: Nashville , Tennessee, Olive
Tesla — Stock in the electric vehicle company added 1.5% in midday trading Friday. Canaccord Genuity reiterated a buy rating on the EV stock on Thursday ahead of vehicle deliveries data. Elsewhere, Citi remained neutral on Tesla and reduced its vehicle delivery forecast to 450,000 from 468,500. Bumble — The online dating platform added 3% after Loop Capital Markets upgraded the stock to buy from hold. Corcept Therapeutics — Shares slumped 17% in midday trading as the firm contends with ongoing litigation against Teva Pharmaceuticals.
Persons: Elon Musk, Canaccord Genuity, Tim Wentworth, Roz Brewer, Bumble —, Cushing, Teva, — CNBC's Pia Singh, Alex Harring, Michelle Fox, Hakyung Kim, Darla Mercado Organizations: U.S, Senate, Intelligence, Capitol, Washington , D.C, Citi, Barclays, Anheuser, Busch InBev — U.S, LSEG, Cruise, Wonder Group, Nvidia —, Blackwell, Nvidia, Nike —, Nike, Walgreens, Bloomberg, Therapeutics, Teva Pharmaceuticals, Texas, Northcoast Research Locations: Washington ,
Bumble's new guidelines now include standing up a date as a form of "bullying and abusive conduct." Bumble told Insider it could take action against someone who ghosts a mutually agreed-upon date. The online dating company recently updated its community guidelines to explicitly include ghosting someone on a date as an action that falls under "bullying and abusive conduct." We aim to create an experience which is free from behavior that makes any individual or group feel harassed, bullied, or targeted," the company's policy page reads. These rules also apply to Bumble BFF, the company's platonic platform for meeting friends.
Persons: Bumble, , Bumble BFF, you've, Whitney Wolfe Herd
One of the first associations with Grindr, an LGBTQ+ dating app, that comes to mind for Omar Alexis is hookups. Grindr told Insider about 25% of its users reported using the app to network, despite the reputation for instant hookups associated with the company since the early years of its founding. "According to data from a survey of Grindr users, approximately 25% of our users say that one of their key activities on Grindr is to network," a company spokesperson wrote in an email to Insider. But Alexis told Insider that he felt many people didn't know exactly what to use that filter for. Alexis told Insider that he was able to find a fitness mentor and a freelance opportunity when he was on the app.
Persons: Grindr, Omar Alexis, hookups, Alexis, George Arison, Arison, I've Organizations: Morning, Wall Street Journal Locations: LA
Goldman Sachs named a slew of top tech picks as earnings season begins to wind down. CNBC Pro combed through top research from Goldman to find some of the firm's favorite tech stocks exiting earnings. "Specifically, in its Q1'23 earnings report, Bumble mgmt. ZoomInfo Goldman is betting on a big second half for ZoomInfo after its robust earnings report earlier this month. Bumble "Bumble reported a solid set of results as the company continues to execute against its four strategic pillars.
There are some antiquated dating norms that are more persistent than one might think. Perhaps even more surprising is that almost half, 47%, of Gen Z respondents subscribe to this belief. Additionally, only 11% of survey respondents said that women should make the first move on a dating app. This is both surprising and totally predictable, says Jessica Small, a marriage counselor and therapist at Growing Self Counseling & Coaching in Denver. It depends on what phase of dating the couple is in.
Four in five Americans believe that women stay in unhappy relationships due to lack of financial independence, according to data from Bumble's State of the Nation 2023 survey. If independence is important to you, it would be wise to maintain some financial distance from your partner, whether or not you feel your relationship is on shaky ground. "If your value system is to be able to be independent, then you've got to create that independence," said Mark La Spisa, a certified financial planner and president of Vermilion Financial. Mark La Spisa CFPMore tips for maintaining financial independenceHaving your own credit cards is also important, La Spisa said. "People are willing to sacrifice their happiness, in a lot of cases, for security or for stuff," La Spisa said.
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