Tinder-rival Bumble makes first acquisition with France’s Fruitz
Category: #business  By Mateen Dalal  Date: 2022-02-08
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Tinder-rival Bumble makes first acquisition with France’s Fruitz

Match Group-owned Tinder and Bumble are two of the biggest online dating companies, of which, the former has established a big position in Europe. Aiming to catch up in this market, Bumble Inc has reportedly bought France-based Fruitz in its first acquisition.

For those unfamiliar, Fruitz, launched in 2017, is a freemium dating app that has gained popularity among the Gen Z population across Europe, especially in France, the Netherlands, Belgium, Spain, and Switzerland. It enables users to express their dating preferences using four fruit metaphors, namely, cherries, grapes, peaches, and watermelons.

Bumble Chief Executive Officer Whitney Wolfe said that they can accelerate Fruitz’s growth by it with their technology and data science platform, brand and growth marketing, and community support.

The deal makes Bumble well-position to take on rival Match Group in an area where the latter had capitalized on the opportunity of an early start. However, Bumble does have its presence in Western Europe, with its dating app Badoo competing with the likes of CharmDate.com and eHarmony.

Badoo app has seen one of the highest downloads among dating apps in Western Europe, and Bumble app has also seen considerable growth in the region, as mentioned by Wolfe in a statement. Meanwhile, Match Group is gearing up to launch its Hinge app in select European countries in the second quarter of this year.

Speaking of the U.S. market, Bumble reached about 2.4 million downloads during the fourth quarter, whereas Match was far ahead with 10.5 million installs.

It is worth noting that the pandemic is subsiding in most parts of the world, however, these dating firms are not anticipating a fast recovery. Match lowered its full-year revenue forecast this month as expects the Omicron wave to come between dates and meet-ups.

Source credits:

https://money.usnews.com/investing/news/articles/2022-02-07/dating-app-owner-bumble-buys-frances-fruitz-in-first-acquisition

About Author

Mateen Dalal    

Mateen Dalal

Despite working as a professional testing engineer, Mateen Dalal always held a liking for content creation. Following his passion, he now pens down articles for itresearchbrief.com and a couple of similar portals. Mateen is a qualified electronics and telecommunicat...

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