Dating app Bumble (BMBL) on Monday said it acquired French rival Fruitz in a bid to strengthen growth in European markets against dating giant Match Group (MTCH), which owns Tinder.
Terms weren't disclosed.
The move comes when Bumble needs to drum up more investor interest about the company's plans. Bumble shares have slumped 35% since its Nasdaq debut in February last year.
"The acquisition of Fruitz allows us to expand our product offerings in line with our focus on empowering relationships for everyone," Bumble Founder and Chief Executive Whitney Wolfe Herd said in a statement.
Bumble, which allows women to make the first move, also owns European and Latin American centered dating app Badoo.
Co-founded by Chief Executive Julian Kabab, Chief Technology Officer Fabrice Bascoulergue and Chief Financial Officer Arnaud Ruols in 2017, Fruitz has seen accelerated growth in France, Belgium, Netherlands, Switzerland, Spain, and Canada.
The Fruitz executives, who will continue to lead the company, "have built a unique product that has struck a powerful chord with consumers in France and across Europe," she said.
"By plugging Fruitz into our technology and data science platform, community support, brand and growth marketing, we can accelerate Fruitz’s growth," added Herd.
Austin-based Bumble, which went public in February 2021, said Fruitz is a "natural fit within the company, complementing its existing Bumble and Badoo apps."
Fruitz says it "encourages open and honest communication of dating intentions through four playful fruit metaphors: cherries (meaning to find your other half), grapes (someone looking to wine and dine), watermelons (if you're looking for friends with benefits), and peaches (which means looking to dance in your sheets tonight.)"
"We’re so excited with the opportunity to grow as part of Bumble and work toward empowering more healthy relationships," Kabab said in a statement.
Bumble said that with this deal it employs more than 800 people with key offices in Austin, London, Barcelona, Paris and Moscow.
