Dating app Bumble reports revenue drop.

Bumble, an online dating platform, reported a 37% workforce reduction, laying off about 350 employees due to a restructuring plan aimed at driving stronger operating leverage and aligning its operating model with future strategic priorities. The layoffs come after the company reported Q4 revenue of $273.6m, which fell short of analyst estimates by 0.6%. Bumble also forecasts weaker first-quarter revenue, anticipating stiff competition from Match Group, the larger rival that owns Tinder, Hinge, and Match.

February 27, 2024
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