The dating application industry is a booming market bringing innovation and newfound strategies to an age-old practice. Whitney Wolfe, CEO of the dating application Bumble, directed primarily towards women, is no stranger to innovation. The most recent change with the application is the implementation of a snooze feature allowing users to pause their activity. This sets Bumble aside from other dating applications as it focuses more on the user, and their ability to freely control their activity.
Whitney Wolfe, leading a company with a workforce consisting of 85 percent female employees, has begun helping similar companies by establishing the Bumble Fund, a venture capital fund. As a means of driving the success of female led businesses, Bumble will commit more than $1 million to the fund, making individual investments in amounts ranging from $5,000 to $250,000.
The focus of Whitney Wolfe’s Bumble Fund will be to help businesses managed by women of color as well as women from underrepresented groups. Venture funding numbers for startups in 2017 were not impressive. Women of color received 0.2 percent; despite the fact, black women are the country’s most educated group. For more latest update connect with Whitney Wolfe on Twitter.
Another part of Whitney Wolfe’s progressive move is to assist companies led and founded by females with valuable information and consultation. Bumble has shown that competition does not surpass the element of empowerment in business; rather it enhances the drive to be successful as a collaborative, synergistic collective led by females not afraid to rise above the old, archaic perceptions of females in business. Not only are they breaking the glass ceiling, they are shattering it.
The application, Bumble, founded in 2014, has received enormous success with 37 million users allowing only women to start a conversation with a match. The reason behind this method is to allow for empowerment of the female, therefore not waiting for the male to make initial contact. Through innovation and expertise, Bumble and the Bumble Fund are driving the future of female led businesses.