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Bumble boosted as online dating continues amid pandemic

Bumble saw it total paying users jump by 20% to 2.9m in Q2

Bumble (NASDAQ:BMBL), the online dating app, surpassed quarterly revenue estimates as many turned to online dating during lockdowns.

The firm, based in Texas, saw it total paying users jump by 20% to 2.9m in Q2.

Online dating apps grew in popularity last year as people dated virtually due to being isolated by lockdowns.

Bumble retains confidence in its outlook despite the onset of the Delta variant threatening to disrupt its key markets.

“When COVID accelerates and loneliness climbs, people turn to us for connections,” Bumble CEO Whitney Wolfe Herd said on an earnings call.

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During Q2 in America, Bumble was downloaded over 2.05m times, an increase of nearly 18% year-on-year.

The company’s revenue rose during the second quarter by 38% to $186.2m, above estimated by Refinitiv IBES of $178.7m.

Bumble is expecting current-quarter revenue between $195m and $198m, above expectations of $190.9m.

Bumble, known for putting women in charge of making contact with potential mates, reached a market value of more than $13bn after listing shares in February.

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