Bumble Inc. reported financial results for the second quarter ended June 30, 2021.Bumble shares initially jumped as much as 7% in late trading, before paring the gains. The stock closed at $47.67 on Wednesday in New York.

Bumble Inc. is the parent company of Badoo and Bumble, two of the world’s highest-grossing dating apps with millions of users worldwide. The Bumble platform enables people to connect and build equitable and healthy relationships.

Founded by CEO Whitney Wolfe Herd in 2014, the Bumble app is one of the first dating apps built with women at the center, and the Badoo app, which was founded in 2006, is one of the pioneers of web and mobile dating products. 

As compared to last year, total revenue increased 38% to $186.2 million while Bumble App revenue grew 55% to $127.3 million. Badoo App and other revenue grew 11% to $58.9 million.

Total paying users increased 20% to 2.9 million and total average revenue per paying user (ARPPU) increased to $20.88, compared to $18.12 in 2020.

Whitney Wolfe Herd, Founder and CEO of Bumble said,“In the second quarter, we remained focused on executing against our strategic priorities and delivered strong growth in paying users, engagement and monetization across both Bumble app and Badoo app.

Our results are a reflection of the appeal of our mission, and the result of the investments we are making in our product offerings, our technology, our international expansion efforts, and our ongoing commitment to our members. More people across the globe are benefiting from our brands, given the growing desire for healthy and equitable relationships.” 

Anu Subramanian, CFO of Bumble added “Our business delivered outstanding revenue growth in the second quarter, as we increased our user base and provided our members with innovative products that led to increases in paying users and ARPPU.”

Bumble said it is confident about its performance for the rest of the year, as it continued to see positive trends across platforms, “even in some of the most affected markets.”

“When COVID accelerates and loneliness climbs, people turn to us for connections,” Bumble CEO Whitney Wolfe Herd said on an earnings call.

Herd added that Bumble saw increased engagement and activity in India too.

Bumble anticipates total revenue for the third quarter ending September 30, 2021 in the range of $195 to $198 million and total revenue for the year ending December 31, 2021 in the range of $752 to $762 million.