Have you ever wished for a simpler way to make friends? Well, look no further because Bumble, the popular dating app, has got you covered. Bumble is expanding its services beyond dating and is now checking out the waters for friendship with its innovative app, Bumble for Friends.

This exciting development aims to connect individuals who are looking to expand their social circle and find like-minded companions.

Let’s explore the details and discover what Bumble’s new app is about!

Bumble For Friends or Simply Speaking “BFF”

Bumble For Friends is currently in the testing phase in select markets, including the UK. It is slated for a US release later this year. With this standalone app, Bumble aims to cater specifically to those who seek new friendships without the dating aspect.

The app’s description in the App Store highlights its commitment to fostering kindness and safety within a community of individuals looking to connect and build meaningful relationships.

While the app is free to use, Bumble For Friends also offers premium subscriptions that provide additional benefits. Users can choose from subscriptions lasting a week, three months, six months, or even a lifetime.

Moreover, the app includes in-app purchases such as boosts for enhanced profile visibility and super swipes to grab the attention of specific individuals.

Tapping Into the Friend-Finding Market

According to a Bumble spokesperson, the BFF mode, which focuses on friend-finding, currently accounts for 15% of the main app’s monthly active users. Recognizing the demand for a dedicated platform to find friends, Bumble decided to develop a separate app to meet this need.

By doing so, Bumble hopes to tap into the friend-finding market, joining the ranks of other apps like Yubo, LMK, Wink, Swipr, and Vibe.

The availability of Bumble For Friends extends beyond the UK, reaching as far as Australia, New Zealand, and the Philippines. The app is accessible on both Android and iOS platforms, ensuring that users across different devices can connect and forge friendships seamlessly.

Bumble has even created a new landing page for the app. However, the download button currently directs users to the main app unless they are part of the testing group in the markets mentioned above.

Bumble’s expansion into the friend-finding arena represents a significant investment by the company. By acknowledging the importance of friendship in people’s lives, Bumble aims to provide a platform that helps individuals find their tribe.

Now Check Your Music Compatibility with Bumble

That’s not all. Recently, Bumble has been making strategic partnerships to enhance user experiences. One notable collaboration with Spotify allows users to showcase their favourite shows and artists on their profiles.

This integration adds another layer of personalization and conversation starters for users, fostering even deeper connections.

Looking at The Financial Prospects

Switching gears, let’s take a quick look at Bumble’s financial health. As of June 22, 2023, Bumble’s stock (BMBL) experienced some fluctuations in trading volume, with lower-than-average activity. However, despite this, the company’s market capitalization remained stable at $2.5 billion.

Bumble’s revenue growth saw a positive trajectory, with an 18.00% increase compared to the previous year. On the flip side, the net profit margin was negative at -8.83%.

Looking ahead, Bumble’s next reporting date is scheduled for August 9, 2023, with an EPS forecast of $0.04 for the quarter.

Analyzing Bumble’s Growth Potential

As an influential player in the technology services sector and the packaged software industry, Bumble continues to navigate the market with its unique offerings and expanding services.

The positive reception from analysts further adds to the company’s growth potential. Currently, 20 analysts have provided 12-month price forecasts for Bumble Inc, with a median target of $25.00.

This median estimate represents a substantial 42.86% increase from the current price of $17.50.

Investment analysts maintain a consensus to buy stock in Bumble Inc, a rating that has remained consistent since April.

Summing Up!

In short, Bumble’s foray into the friend-finding market with its Bumble For Friends app brings a fresh approach to making connections and expanding social circles. With its focus on kindness, safety, and community, Bumble aims to create a space where individuals can forge meaningful friendships.

Through strategic partnerships and continuous growth, Bumble Inc. proves to be an exciting player in both the social and financial landscapes.

So, why not give BFF a try and discover the joy of connecting with like-minded individuals on a whole new level?

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