|Bid||57.16 x 800|
|Ask||57.19 x 800|
|Day's Range||56.10 - 57.80|
|52 Week Range||22.90 - 60.95|
|PE Ratio (TTM)||33.24|
|Earnings Date||Nov 5, 2018 - Nov 9, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||51.38|
Match Group, Starbucks and Novartis are the Yahoo Finance charts of the day.
Earlier this year, the Match Group, which owns the dating service Tinder, filed a lawsuit against rival Bumble, alleging that the company had infringed on patents and misused intellectual property. Just weeks later, Bumble countersued the Match Group for accessing trade secrets fraudulently. Now, Bumble has filed court paperwork for the lawsuit while "actively pursuing an IPO," CEO Whitney Wolfe told TechCrunch.
News broke this morning that Bumble would be taking Tinder parent company, Match Group, to court. Its lawsuit alleges that Match Group fraudulently obtained trade secrets, publicly disparaged Bumble, and impacted Bumble's other investment and acquisition offers at a time when Match Group itself was trying to acquire Bumble's business.
The "My Move" feature allows women to choose in their settings that only they can start a conversation with a male match after both have approved each other with Tinder's swiping function. Normally, the app gives both parties to a successful match - where both have swiped yes on the other's photograph - the right to text each other immediately. Dating is still frowned upon in many circles in India's religiously- and ethnically-divided society, where arranged marriages are still the norm.
The Indian edition of dating app Tinder is trialing a new feature which gives women an additional level of scrutiny before they allow men to start messaging conversations, with a view to rolling the function out globally. The "My Move" feature allows women to choose in their settings that only they can start a conversation with a male match after both have approved each other with Tinder's swiping function. Normally, the app gives both parties to a successful match - where both have swiped yes on the other's photograph - the right to text each other immediately.
Bumble CEO and co-founder Whitney Wolfe Herd talked about IPO plans, financial figures and its spat with Match Group in a CNBC interview.
Q3 Earnings Preview: See who joins IBD 50 stocks Netflix, Paycom, Match and Atlassian on list of companies expecting 50% to 2,500% growth.
Bumble had announced back in March that it was filing a lawsuit of $400 million against Match Group, claiming that the latter had fraudulently obtained trade secrets from the former. The move came only a few weeks after Match filed a suit against Bumble over patent infringement and misuse of intellectual property. The Match lawsuit claimed that Bumble had copied “Tinder’s world-changing, card-swipe-based, mutual opt-in premise.” It added that former Tinder employees Chris Gulczynski and Sarah Mick copied some of the design elements of Tinder and added them to Bumble.
Bumble is pressing ahead with its $400 million countersuit on its larger rival Match. Bumble CEO Whitney Wolfe Herd says her company is pursuing an initial public offering.
Bumble CEO Whitney Wolfe Herd talks about the company's plans to go public, its lawsuit fighting back against Match Group, and competition with Facebook's dating service.