Bumble, the latest dating site to be introduced in the industry is in some dubious battle with Match Group, Tinder’s parent company. Initially, Match Group filed a lawsuit against Bumble. The claims indicated copyright infringement in business. However, Whitney Wolfe, the head cheerleader of the company, stated in the claims that Match Group was playing a rough game because of several failed buyout attempts.
When Match Group filed the lawsuit, Whitney of Bumble counter reacted by filing a lawsuit as well. From Whitney’s statement it is clear that initially in Match’s buyout attempt, Bumble’s business operations were interfered with. What is more, Bumble is making a compensation demand of $400 million in damages.
Allegedly, Match Group robbed Bumble of its trading secrets, and the business has termed it as fraudulent behavior. Of course, according to Whitney and her management, this hurt her business in many ways including interfering with its chances of trading the equity investment. Further into the matter, Whitney Wolfe described the situation as having chilled the market for Bumble’s future investment with prospective businesses.
Moreover, Bumble has stated that Match Group took advantage of its position as the possible predecessor to collect vital business information for competition. Even worse, Match Group offered Bumble $450 million in June 2017. That marked the beginning of all wrangles as Bumble termed the offer as ‘’lowball’’. Furthermore, it did not even consider it or presented a counteroffer.
Early this year, the two companies initiated a discussion based on the potential acquisition of Bumble. Many sources have since reported that the infringement lawsuit has taken Bumble by surprise. On the other hand, Whitney Wolfe has stood her ground and insisted that the lawsuit against Bumble is not based on facts. She terms it as just a wrongful disparage that will cost businesses time, money and actual possible partnerships.
Whitney Wolfe is an exemplary business professional with a particular knack for entrepreneurship. She grew up in Utah and joined Southern Methodist University for sales and business administration. Of course, in her academic year, she specialized in different units as well. While in college, Wolfe delved into the business of selling tote bags. She used that opportunity to rub shoulders with celebrity entrepreneurs and later found her way into the world of businesses and entrepreneurship. That is how she was poached to work for Tinder as a senior executive. After quitting, she founded Bumble.