Austin, Texas-based Bumble Inc, which is the parent company of apps like Bumble, Badoo, and Fruitz, posted a net loss of $159.2 million in the fourth quarter as opposed to a net loss of $13.9 million during the same period last year. However, the total paying users across apps increased by 14.4% to 3.4 million, compared to 3.0 million in the previous year.
Further, the total Average Revenue per Paying User (ARPPU) increased to $23.01, compared to $22.69, the company said in a statement.
“We delivered total revenue growth of 19% and an adjusted EBITDA margin of 25% in 2022,” said Anu Subramanian, Chief Financial Officer of Bumble Inc. “The resilience of our business is underscored by Bumble App’s half-a-million paying user net additions and healthy 31% revenue increase for the full year. By meaningfully expanding our offerings and extending our reach across the globe, we believe we are on a path to scale our business and deliver profitable growth again in 2023.”
Bumble said it has a two-pronged approach to the expansion of the Bumble dating app in India – expanding in new markets where it sees an opportunity and going deeper into markets that are already established. Tariq Shaukat, President of Bumble Inc said the company is seeing “very, very rapid growth” in India.
“And a lot of that is, if you will, geo expansion inside of India, as well as continuing to go deeper in the key cities like Mumbai that we’re already in,” Shaukat added.
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Herd also said that in addition to offerings like Compliments and Best Bees, she was excited about the potential for Bumble’s speed dating experience in ‘major markets’ like India.”In Q4, we transitioned from a branded partnership version of speed dating and launched it as a stand-alone unbranded experience in a number of our major markets, including the US, Germany, and India,” she said.
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