Bumble's founder and executive chair, Whitney Wolfe Herd, is set to return as CEO in mid-March, replacing Lidiane Jones, who has resigned from the position due to "personal reasons." This marks a significant development for the dating app company, which has been struggling to maintain its user base and revenue in recent times.

Wolfe Herd, who co-founded Tinder before launching Bumble in 2014, stepped down as CEO in January 2024. However, she will now be taking the reins again, stating that she is "energized and fully committed to Bumble's success, our mission of creating meaningful, equitable relationships, and our opportunity ahead." Her return is seen as a move to revitalize the company's fortunes, which have been declining in recent months.

Bumble's struggles are reflective of the broader dating app industry, which has been experiencing a decline in user numbers and revenue. The company's redesign in April, which allowed men to send the first message in response to prewritten questions, was met with criticism, and its share price has dropped by more than half since then. Furthermore, a 2023 Pew Research survey found that 52% of respondents thought they had come across a scammer on dating sites and apps, and 51% of women said their experiences had been negative.

In addition, a report by Ofcom in the UK noted that usage of each of the top three largest dating services had declined from 2023, and survey data increasingly suggests that Gen Z daters aren't using the apps as much. This decline in popularity has also been reflected in Bumble's most recent earnings report, which showed that the number of paying users had increased from 3.8 million to 4.3 million over the last year, but average revenue per paying user dropped from $23.42 to $21.17, and its total revenue dropped slightly.

The return of Wolfe Herd as CEO may be seen as a move to revamp Bumble's strategy and regain its footing in the competitive dating app market. Her statement suggests that the company is planning "exciting innovation ahead" in this "bold new chapter," but the road ahead will likely be challenging. As the dating app industry continues to evolve, it remains to be seen how Bumble will adapt and respond to the changing landscape.

In the meantime, Wolfe Herd's return is likely to be closely watched by investors and industry observers alike, as she seeks to turn around the fortunes of the company she founded. With her experience and expertise in the dating app space, she may be able to bring a fresh perspective and new ideas to the table, but only time will tell if she can successfully revitalize Bumble's fortunes.