Bumble’s Quarterly Revenue Jumped by 15% YoY to $243M in Q1 2023

Published June 20, 2023

As the second-most-popular dating app worldwide, Bumble has seen its user base skyrocket in the past years. Today, over 2 million people worldwide use the app, helping its parent company to gross more revenue than ever.

According to data presented by OnlyAccounts.io, the online dating company Bumble Inc. generated roughly $243 million in Q1 2023, or 15% more than in the same quarter a year ago.

Bumble’s Revenue Jumped 80% Since Early 2020

Once the COVID-19 pandemic made its wave in early 2020, dating apps saw their user bases skyrocket, with millions of people searching for more virtual interaction than ever. As the second-largest name in the online dating industry, Bumble also rode this wave to fit the needs of pandemic-struck singles, with its top two apps, Bumble and Badoo, seeing more users than ever. The company’s revenue figures confirm that.

In 2018, the online dating company generated around $489 million in revenue, according to Statista data. By the end of 2020, this figure jumped to over $542 million. However, statistics show Badoo’s revenue continued surging even after the Covid-19 lockdowns when life returned to normal.

In 2021, the company grossed an impressive $765.7 million in revenue, or 40% more than a year before. Although 2022 saw much lower growth rates, revenue still jumped by 17% year-over-year to $903 million. More than 75% of that value, or roughly $695 million, came from Bumble online dating app, while Badoo and other companies’ apps brought in another $209 million.

The positive trend continued in the first three months of 2023, with the social media company grossing $242.9 million from its dating apps or $31.7 million more than in the same period a year ago. This also shows Bumble’s quarterly revenue has jumped 80% since early 2020.

The Number of Bumble Users Jumped 4x Since 2018 and Hit Over 2 Million

Although Badoo holds only 5% of the global online dating market, compared to a 16% market share of the world’s number-one dating app Tinder, its user base has grown immensely over the past years.

Statista and Bumble’s official data show the company had around 1.9 million paying users in 2018. The number of Bumble app users stood ad 574,000 at that time, while around 1.3 million people used Badoo and other apps.

Statistics show the total number of paying users jumped by 63% since then and hit almost 3.2 million last year. Bumble, the company’s largest app, saw its user base quadruple in this period and hit over 2 million.

Jastra Kranjec

Jastra is an editor, writer, and PR specialist with years of experience in news, research, and report writing. Over the years, she has covered different topics and markets, including social media, digital content, the creator economy and the entertainment industry.