Whitney Wolfe Herd’s Take Bumble Public and Proves That More Women in the Board Room is Better
While some men may be agreeing with Tokyo Olympics chief Yoshiro Mori saying women talk too much in meetings, Whitney Wolfe Herd’s success has proved that filling a boardroom with more women is the way to go. The co-founder of the dating app Bumble – has made a mark as the youngest-ever CEO to take a company public this week at Nasdaq yesterday (Feb. 11).
Bumble puts women first – The company catering to women and led by women has made its 31-year-old female founder a rare billionaire and the third female-founded firm to IPO in the past year – selling more shares and at a higher price than initially expected, valuing the company at $8.3 billion.
Whitney’s speaking up about harassment spurred the creation of Bumble. While a co-founder of the now competitor Tinder, she was repeatedly called derogatory names by executives and stripped of her co-founder role since having a “girl” with that title “makes the company seem like a joke.” The suit was later settled.
Did you know that female-founded companies generated more revenue and were significantly more capital efficient? (Source: Kauffman Foundation, Mass Challenge, and BCG). Sadly, only 3% of venture capital dollars go to startups founded by women.
Will “Whitney’s success help further the case for investing in businesses that serve a female audience or that are founded by women?
Photo of Bumble CEO celebrating with Baby in her arms at Nasdaq
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