Latest news with #Herd
Global News
06-07-2025
- Business
- Global News
Is Gen Z ghosting on dating apps as companies lay off workers?
Several online dating platforms have begun to break up with their employees, laying off hundreds of people as leaders warn the apps are facing an 'inflection point,' with more people starting to ghost the companies in favour of meeting romantic partners in the flesh right from the start. Last week, Bumble CEO Whitney Herd told employees in a note that the company had been 'rebuilding' in recent months. In a U.S. securities filing, the company said it would be laying off about one-third of its workforce, or 240 employees. 'Bumble, like the online dating industry itself, is at an inflection point,' Herd wrote. 'The reality is, we need to take decisive action to restructure to build a company that's resilient, intentional, and ready for the next decade.' It's not the only one. Match Group, which owns Tinder and Hinge, announced earlier this year it's cutting about 13 per cent of its workforce. Story continues below advertisement 'I've heard incredible stories of love, companionship, and life-changing relationships made possible through our apps,' CEO Spencer Rascoff said in a LinkedIn post in April. 'But I've also heard frustration — from users searching for real, meaningful matches and expecting more from the experience.' Dating and relationship coach Nicole Haley told Global News the shift isn't really surprising given the experience some people have on the platforms. 'There's a novelty to go online because it's new and it's kind of exciting,' she said. 'But as soon as they get on, they start to be disheartened with it. They're like, 'Oh, this is a lot harder than I thought.'' But it could be more than just a lack of enjoyment of the apps that's causing the shift, with some studies noting newer generations may have less of an affinity for that kind of dating, plus some may not even be able to sign on. Fewer members of Gen Z taking to the apps A study by the Survey Center for American Life found that among Generation Z, the group generally defined as being born between 1997 and 2012, about 56 per cent had a boyfriend or girlfriend in their teen years, compared with 69 per cent for Millennials, 79 per cent for Gen X and 82 per cent for Baby Boomers. Story continues below advertisement 'I think that what they see about relationships around them is kind of depressing and they see this narrative that it's easy, it's fun, it's cute to connect on dating apps and then they look at their own experiences and probably a lot of their friends and it's quite the opposite,' said Treena Orchard, a researcher and author of Sticky, Sexy, Sad: Swipe Culture and the Darker Side of Dating Apps. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Orchard, an anthropologist and associate professor at Western University in London, Ont., said youths' experiences, plus looking at the divorce rates of their parents' generation, among other factors in the dating world, could lead to Gen Z feeling relationships might be 'too big of a risk.' Then there are the concerns around how much data is being given to these companies. 6:34 Gen Z is redefining dating—and it's not what you think 'I think people are pretty hyper-tuned into the possibility of being swindled because it doesn't just happen on dating apps, it happens on every digital platform we have,' Orchard said. 'There is a point where I think a lot of us — myself included — just feel saturated by coercion, by deception, by people trying to sell us things.' Story continues below advertisement A 2023 survey conducted by U.S. news outlet Axios and Generation Lab found that, of slightly under 1,000 college and graduate students, 79 per cent use dating apps as little as once a month. That lack of use by students — many of whom are Gen Z, as the oldest of this generation are nearly 30 — could also be due to their ability to find a relationship within their community. 'They're still embedded in their local communities and institutions where they don't need to look for dating apps to find a romantic partner,' said Jess Carbino, a former sociologist for Tinder and Bumble. Carbino added that the youngest of Gen Z cannot even access the apps, as some are as young as 13, and most dating apps require a minimum age of 18. Haley notes, however, that even if people are shifting back to approaching each other to date in person, the phone apps can still be one tool in their toolkit to find the right match. 'I think it's going to take practice and it's going to be practised to handle one's ability to handle discomfort,' she said. 'We have gotten so comfortable without need … to get out of our comfort zone and so that's why we rely on our phones. I think young people don't have that resilience, they need the resilience to handle some form of rejection or disappointment and not give up.'
West Australian
04-07-2025
- Entertainment
- West Australian
AARON PATRICK: Generation Z is killing online dating. That's good news
When dating app pioneer Whitney Wolfe Herd informed her London staff this week many would lose their jobs, the Millennial and Gen Z employees reacted, well, in a way typical of their generations: through emojis. 'I see a lot of freaking-out emojis,' the Bumble founder and CEO said on a conference call. 'Y'all need to calm down. Everyone's going to have to be adults in dealing with this.' After the call was leaked to the press, the 36-year-old Ms Herd was criticised for patronising staff about to lose their jobs. But her problems were caused by a phenomenon worthy of celebration: history's most technologically sophisticated generation is deleting dating apps. Almost anyone who has been single during the past two decades understands how the internet dominates dating. From RSVP to Tinder, apps and websites make meeting people so easy they were responsible for 60 per cent of new relationships in 2024, according to a Stanford University study. The headline figure, though, misses an important story. Generation Z, or teenagers and those in their 20s, are engaging in a digital rebellion. Exposed to the internet since they were born, many regard online dating as impersonal, insincere and judgmental. Only 21 per cent of Gen Zers see apps as their main way of finding a partner and 58 per cent are searching for a human in real life, according to an American survey published in May by the Kinsey Institute and website. Even Ms Herd acknowledges Generation Z has 'abandoned' dating apps. 'They're getting on the apps and they are not seeing who they want to see,' she told the New York Times last month. 'They get on the app, they essentially have to judge people and reject people. They're feeling rejected, and they're feeling judged.' Paradoxically, the apps' decline is driven by their success. On Tinder, the most downloaded app, popular women in a large city can receive more than a thousand swipes within a week or two of opening an account. (For reasons no one is able to convincingly explain, men are less selective than women online.) The volume accentuates what is already a superficial process of assessing a potential partner based on a few photos, a job title and a short personal description. Online dating companies still have plenty of older customers. Even celebrities reluctantly use them, including Hollywood actress Charlize Theron, who expressed a common view this week. 'The apps are just horrible,' she told the Call Her Daddy podcast. 'It's a clown show.' Instead of exciting places to meet lovely potential partners, people find themselves sorting through computer-generated bots, scammers and what are euphemistically referred to as 'low-quality profiles' — people of limited romantic appeal. One survey found 85 per cent of women reported a match had tried to contact them after they said they weren't interested. Maintaining conversations with strangers can be exhausting. Without a stream of new, young customers, the apps are relying on a jaded group of dating veterans. It is unclear if they will ever return to their glory days. When Bumble floated on the share market in 2021 it was worth almost $12 billion, making Ms Herd the world's youngest female billionaire. Today, the company is worth $1b and hopes to use artificial intelligence to improve matches. In the meantime, it is cutting about 30 per cent of its workforce, and accepts it will lose customers in the short term. which owns Tinder, has gone from a value of about $60b during the pandemic to $10b today. In March the chief executive, Spencer Raskoff, posted an open letter that served as an apology to customers suffering swipe fatigue. 'Too often our apps have felt like a numbers game,' he wrote. Still, dating apps will likely remain an important part of the dating world, especially for people over 35 who don't study or work with a large number of other single people. 'Not everyone has that has network of friends who have endless single friends to pair them up with,' said Holly Bartter, a Sydney dating app consultant. 'It's the still the way we going to be matching. Online dating is not going anywhere.'
Perth Now
04-07-2025
- Entertainment
- Perth Now
Generation Z is killing online dating. That's good news
When dating app pioneer Whitney Wolfe Herd informed her London staff this week many would lose their jobs, the Millennial and Gen Z employees reacted, well, in a way typical of their generations: through emojis. 'I see a lot of freaking-out emojis,' the Bumble founder and CEO said on a conference call. 'Y'all need to calm down. Everyone's going to have to be adults in dealing with this.' After the call was leaked to the press, the 36-year-old Ms Herd was criticised for patronising staff about to lose their jobs. But her problems were caused by a phenomenon worthy of celebration: history's most technologically sophisticated generation is deleting dating apps. Almost anyone who has been single during the past two decades understands how the internet dominates dating. From RSVP to Tinder, apps and websites make meeting people so easy they were responsible for 60 per cent of new relationships in 2024, according to a Stanford University study. The headline figure, though, misses an important story. Generation Z, or teenagers and those in their 20s, are engaging in a digital rebellion. Exposed to the internet since they were born, many regard online dating as impersonal, insincere and judgmental. Only 21 per cent of Gen Zers see apps as their main way of finding a partner and 58 per cent are searching for a human in real life, according to an American survey published in May by the Kinsey Institute and website. Even Ms Herd acknowledges Generation Z has 'abandoned' dating apps. 'They're getting on the apps and they are not seeing who they want to see,' she told the New York Times last month. 'They get on the app, they essentially have to judge people and reject people. They're feeling rejected, and they're feeling judged.' Paradoxically, the apps' decline is driven by their success. On Tinder, the most downloaded app, popular women in a large city can receive more than a thousand swipes within a week or two of opening an account. (For reasons no one is able to convincingly explain, men are less selective than women online.) The volume accentuates what is already a superficial process of assessing a potential partner based on a few photos, a job title and a short personal description. Bumble founder and CEO Whitney Wolfe Herd. Credit: Getty Images. Online dating companies still have plenty of older customers. Even celebrities reluctantly use them, including Hollywood actress Charlize Theron, who expressed a common view this week. 'The apps are just horrible,' she told the Call Her Daddy podcast. 'It's a clown show.' Instead of exciting places to meet lovely potential partners, people find themselves sorting through computer-generated bots, scammers and what are euphemistically referred to as 'low-quality profiles' — people of limited romantic appeal. One survey found 85 per cent of women reported a match had tried to contact them after they said they weren't interested. Maintaining conversations with strangers can be exhausting. Without a stream of new, young customers, the apps are relying on a jaded group of dating veterans. It is unclear if they will ever return to their glory days. When Bumble floated on the share market in 2021 it was worth almost $12 billion, making Ms Herd the world's youngest female billionaire. Today, the company is worth $1b and hopes to use artificial intelligence to improve matches. In the meantime, it is cutting about 30 per cent of its workforce, and accepts it will lose customers in the short term. which owns Tinder, has gone from a value of about $60b during the pandemic to $10b today. In March the chief executive, Spencer Raskoff, posted an open letter that served as an apology to customers suffering swipe fatigue. 'Too often our apps have felt like a numbers game,' he wrote. Still, dating apps will likely remain an important part of the dating world, especially for people over 35 who don't study or work with a large number of other single people. 'Not everyone has that has network of friends who have endless single friends to pair them up with,' said Holly Bartter, a Sydney dating app consultant. 'It's the still the way we going to be matching. Online dating is not going anywhere.'
Yahoo
25-06-2025
- Business
- Yahoo
Bumble to lay off 30% of workforce as it moves to slash costs
Bumble will lay off roughly 30% of its workforce, or 240 employees, according to a regulatory filing filed by the online dating company on Wednesday. The jobs cuts come as the company moves to reduce costs and refocus on growing its customer base. Bumble estimates the layoffs, which are slated to take place in the second half of the year, will save $40 million. The Texas-based company said it will reinvest most of that money into "product and technology development." In announcing the decision to staff on Wednesday, Bumble CEO Whitney Wolfe Herd, who also co-founded Tinder, said the online dating business as is at an "inflection point." "The reality is, we need to take decisive action to restructure to build a company that's resilient, intentional and ready for the next decade," she wrote in an email to Bumble employees. In a statement to CBS News, a Bumble spokesperson said the decision to reduce the company's workforce is in line with the company's strategic goals. "Our focus now is on moving forward in a way that strengthens our core business, continues to serve our members effectively and positions us for future growth," the spokesperson said. Bumble said in its securities filing that it will incur $13 million to $18 million in non-recurring charges for severance and other benefits paid out to impacted employees. Shares of the online dating company were up 21% in midday trading. During a company earnings call in May, Herd acknowledged Bumble had lost traction with customers and said it was focusing on providing users with better matches. "We are accelerating our efforts to improve our member base and show members a more thoughtful selection of high-quality relevant profile," Herd said at the time. "As we execute on our plans, we are very focused on building a sustainable revenue model with a healthy paying member base," she added. Trump's response to early intel report on impact of U.S. strikes on Iran's nuclear program A dive into the history of Iran | 60 Minutes Archive Hegseth sounds off about level of damage to Iran's nuclear sites Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
Dating app Bumble to lay off hundreds of staff amid turnaround bid
Dating app Bumble announced plans to lay off almost a third of its workforce as part of a bid to return to a 'start-up mentality' as it fights to revive growth. The Austin, Texas-based company is cutting about 240 roles, or 30% of its global staff, amid a turnaround effort. Its stock has tumbled since the firm went public in 2021. Founder Whitney Wolfe Herd, who stepped down as CEO in 2024 but returned earlier this year, said Bumble needed to take 'decisive action' in order 'to restructure to build a company that's resilient, intentional, and ready for the next decade' in an email to staff. 'We've reset our strategy, and are going back to a start-up mentality – rooted in an ownership mindset and team structures designed for faster, more meaningful execution,' she wrote. Shares in Bumble rallied some 24% during early trading in New York on Wednesday. Related: Dating apps face a reckoning as users log off: 'There's no actual human connection' Bumble said it will incur non-recurring charges of between $13m and $18m for employee severance, benefits and related charges, primarily during the third and fourth quarters of 2025. The company expects to generate 'up to' $40m in annual cost savings, which it plans to reinvest in initiatives such as product and technology development, according to a stock market filing. The company also raised its second-quarter revenue forecast to a range of $244m to $249m, up from the prior view of $235m to $243m. 'In recent months, we've been rebuilding – returning to what makes us trusted, unique, and deeply human,' wrote Herd. 'But intentional rebuilding requires hard decisions. Today, we are marking one of the most difficult: we are reducing the size of our team. This decision is not a reflection of any individual but rather where we are going as a company and what we are building for.' Reuters contributed reporting
