Bumble's Founder Returns to Boost Growth

Bumble is shaking things up with its founder, Whitney Wolfe Herd, taking back the CEO role in March. This move comes after the dating app's shares dropped about 50% during the current CEO's tenure. The industry as a whole is facing challenges, with high inflation and a lack of new features slowing growth for companies like Bumble and its rival, Tinder-owner Match Group. Bumble has seen some changes recently. Last month, the company said goodbye to its finance chief and marketing head. This Friday, they announced more shifts, including a new board chair and an update on their fourth-quarter profit. Despite these changes, the company's shares closed down 1. 6% at $7. 70. Bumble's growth has been sluggish, with sales declining for the first time since going public in 2021. They launched a refreshed app and new features last year, but these haven't caught on yet, especially with Gen Z, a key group for advertisers.