Bumble Develops AI-Powered Dating App Under Wolfe Herd's Leadership

Bumble is building an AI-powered matchmaking app, with a beta version set to be released this fall. The company consulted psychologists and relationship counselors to develop the matchmaking AI, according to a Wall Street Journal report. Bumble's shares are down 4c to $6.29 in morning trading.

Bumble (BMBL) is reportedly developing an AI-powered matchmaking app, according to a recent Wall Street Journal report. The company, led by CEO Wolfe Herd, has consulted with psychologists and relationship counselors to program the matchmaking AI. The beta version of the app is set to be released to select users this fall, separate from the existing Bumble app.

The new app aims to create "the world's smartest and most emotionally intelligent matchmaker in existence," as described by Herd. It will generate a dating profile based on users' answers to questions about past relationships, breakups, and experiences with love and dating. The app is being built as a large language model, designed to communicate with users in a humanlike manner.

The team is still determining the monetization strategy, but users may have to pay for each match. The app will get to know the user over multiple sessions, create a dating profile, find matches, and even help book reservations for dates. However, the exact number of matches the system will generate and the monetization strategy remain unspecified.

Bumble's stock has been performing poorly, with shares trading nearly 1% lower by Friday noon. Over the past 24 hours, retail sentiment about BMBL stock stayed within the 'bearish' territory, while message volume remained low on Stocktwits. BMBL stock is down 23% this year and approximately 5% over the past 12 months.

References:
[1] https://stocktwits.com/news-articles/markets/equity/bumble-developing-ai-powered-matchmaking-app-report/chtTlsuRdNm