Bumble Chetney Wulf Dating Service Head has ceased to be a billionaire due to a sharp drop in the company’s shares. According to Forbes estimates, now the state of a 32-year-old Herd fell below a billion dollars and is estimated at about $ 940 million.
In early November, Bumble published reporting for the third quarter, and after that, the stock collapsed by 26 percent. The company reported a decrease in the number of users, while the number of users who pay for a subscription decreased in three months from 2.93 to 2.87 million people. In general, the service planned to attract 87 thousand new subscribers, but the real figure was only 60 thousand.
Shares of the company, which at the peak in February cost $ 78.89, was already worth 60 dollars by September, and in November they dropped sharply. Now one security costs 34.63 dollars.
And in February, when the deething service went to the IPO, it was estimated at 8.2 billion dollars. The company sold shares above the expected price range and attracted more than 2 billion dollars of investment. The state of Herd itself has grown to 1.6 billion dollars, and it became the most young woman-billionaire, independently earned capital.