Bumble founder and chief executive Whitney Wolfe Herd, with a baby on her hips, became a billionaire on Thursday as she took the dating app public. The app, where female users make the first move, made its debut on Wall Street, becoming a publicly traded company on NASDAQ, where its shares soared 67% to $72 at 1:03 pm, Bloomberg reported.
Along for the ride was Wolfe Herd's one-year-old son Bobby Lee "Bo" Herd II, held by his mother as she pushed a button and signed her name to take the company public from Bumble's office in Austin, Texas.
Following the Initial Public Offering (IPO), Wolfe Herd, who has a 11.6% stake in the company, became a billionaire and the youngest CEO to take an American company public. 31-year-old Wolf Herd's stake in the firm is now worth $1.5 billion.
The tech-rich NASDAQ Composite Index led the US market on Thursday, gaining 0.4% to end the day at a record high of 14,025.77 points.
And Bumble enjoyed a buoyant launch, raising over $2.2 billion in its IPO.
"Today, @Bumble becomes a public company," Wolf Herd said on her Twitter account. "This is only possible thanks to the more than 1.7 billion first moves made by brave women on our app — and the pioneering women who paved the way for us in the business world. To everyone who made today possible: Thank you. #BumbleIPO"
The listing also makes Wolf Herd one of the rare self-made female billionaires in the world. According to Bloomberg Billionaires Index, self-made women account for less than 5% of the world's top 500 fortunes, while self-made men make up almost two-third of that list.
559 companies have gone public in the US over the past year, with Bumble being only the third to have been founded by women.
Wolfe Herd founded the company in 2014 after she left Tinder, which she helped found. It was an unceremonious departure with Wolfe Herd filing a sexual harassment lawsuit against the company and alleging she was called derogatory names and stripped of her co-founder role as having a "girl" with that title "makes the company seem like a joke".