According to Whitney Wolfe Herd, founder and CEO of Bumble, anyone can successfully start a side agitation and turn it into a thriving business.
“You can monetize anything,” Wolfe Herd, who built Bumble in a business worth more than $ 7 billion, told CNBC Make It in 2019.
For starters, “find out what you’re passionate about,” she said, “and if you’re very good at it, there’s a way to turn it into a business.”
For example, “maybe you’re an incredible cook – start a cooking blog, then start charging for recipes. It depends on your talents, whatever they are.”
Kevin O’Leary also recommends following a secondary agitation that excites you and highlights your talents and for which there is demand – sell “a good or service you have dreamed of and [are] really great at, “he previously told CNBC Make It.
Some of the most requested agitations of the moment include guiding concerts, writing CVs and managing social networks, to name a few.
“I think anyone can make money with something they know how to do,” says Wolfe Herd.
Wolfe Herd launched Bumble in 2014 after leaving Tinder, where he was vice president of marketing. She initially wanted to create a social networking platform for teenage girls, where they could communicate only through compliments. But with her knowledge of the dating space and marketing experience, she eventually created Bumble, a dating app that allowed women to make the first move, which at the time defied previous dating rules.
In 2016, Bumble began monetizing its app by offering in-app purchase options. Today, Bumble offers those features and more, ranging from $ 5.99 to subscriptions worth up to $ 199.99. According to the IPO filing, Bumble had revenues of $ 376.6 million in the first nine months of 2020, with a net loss of $ 84.1 million. At that time in 2019, Bumble had revenues of $ 362.6 million and a net profit of $ 68.6 million.
In its initial public offering, Bumble raised $ 2.2 billion from investors and in turn made Wolfe Herd one of the youngest billionaires at 31 years old.
“You have to start somewhere,” Wolf Herd said. “Just find your passion and bow to it”
“Reported by.” Sarah Berger
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