(Bloomberg) — Bumble Inc. announced its first acquisition on Monday, making a move on French dating app Fruitz to increase its foothold in Western Europe and Canada.
Since it launched in 2017, Fruitz has expanded to countries including the Netherlands, Belgium and Spain, and is particularly popular with Gen Z, a demographic that accounts for an increasing segment of online dating. Fruitz seeks to be honest about one’s dating intentions by matching people who are looking for the same type of relationship by selecting identical fruit emojis. Bumble, which upended the traditional dating scene by giving women the first move, said Fruitz fits into its mission to promote relationships that are healthy and equitable.
“The acquisition of Fruitz allows us to expand our product offering for consumers in line with our focus on empowering relationships,” said Chief Executive Officer Whitney Wolfe Herd.
Like Bumble, Fruitz has a basic model that’s free and offers a paid membership with additional features. The terms of the deal weren’t disclosed. Fruitz ranked in the top five free and highest grossing iPhone lifestyle apps in France as of Feb. 3, according to data provided by App Annie.
Austin, Texas-based Bumble also owns Badoo, one of the most downloaded dating apps in Western Europe, where Badoo has seen growth as well, according to Wolfe Herd. Badoo struggled in the third quarter as users continued to face economic pressures from Covid.
Bumble shares have tumbled about 35% since its initial public offering in February 2021. So far this year the stock is down about 18%, compared with 12% for rival Match Group Inc., owner of Tinder.
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