Bumble Founder: World’s Youngest Female Self-Made Billionaire: Whitney Wolfe Herd | E195

Whitney Wolfe Herd: The Making of a Billionaire

In this interview, Whitney Wolfe Herd, the CEO and founder of Bumble, talks about her journey to becoming a billionaire and the challenges she faced along the way. She discusses her upbringing in Salt Lake City, Utah, and how it influenced her views on gender dynamics. She also shares insights into her experiences with toxic relationships and how they shaped her approach to building a business that empowers women.

Growing Up in Salt Lake City

• Whitney grew up in Salt Lake City, Utah.

• Her father is Jewish and her mother is Catholic.

• The Mormon faith dominated the community where she grew up.

• Whitney felt like an anomaly because she didn't look or behave like everyone else.

Toxic Relationships

• Whitney's first boyfriend was toxic.

• She was expected to adhere to his rules and beliefs.

• This experience set the stage for her career at Bumble.

• Humans want to fit into their environments; no one wants to be left out.

Building Bumble

• Bumble puts women in charge of making the first move.

• Understanding what moves and motivates people has been Bumble's superpower over the years.

• Starting Bumble was a departure from Whitney's previous experience at Tinder.

• Taking a company public at 31 years old took a personal toll on Whitney.

• Whitney doesn't know what her team would say about her as a leader.

Navigating the Duality of Conflicting Needs

In this section, the speaker discusses how to navigate conflicting needs and choose between external validation and internal authenticity.

Authenticity Wins

• Authenticity is fundamental and wins over external validation.

• Following and chasing that authentic space opens up the world for you.

• Making a change requires short-term loss, but staying inauthentic perpetuates the cycle of fitting in versus being who you really are.

The Cost of Pursuing Authenticity

• Pursuing authenticity seems scary because it requires leaving behind people, places, and things that no longer align with your true self.

• A broken relationship with yourself is more toxic than a phony good relationship with others.

Accepting Yourself to Be Authentic

In this section, the speaker talks about accepting oneself as a crucial step towards being authentic.

Self-Love and Compassion

• We need to give ourselves love and compassion to have the confidence and courage to be authentic.

• It's hard to accept ourselves because we're hard on ourselves. We say things internally that we would never say to others.

Coming Alive

• Women are coming out of their cage in their 30s by taking social media platforms like TikTok by storm. They're saying they've been living by standards that aren't authentic.

Fitting In vs Being Authentic When Young

In this section, the speaker talks about how young women often prioritize fitting in over being authentic.

What Was Success at 18?

• At 18, the speaker would have said something to fit in rather than what she really wanted to be.

• In college, women wanted to work for a fashion brand or get a job at a bank. They also wanted to find someone to marry and settle down with.

The Dating Game

• The speaker was judged by her girlfriends if she texted a guy in college.

Desire to Break the Rules

In this section, the speaker talks about her desire to break societal rules and expectations. She questions why these rules exist and how they shape our ambitions.

Gender Differences in Innate Desires

• The interviewer asks if there are any innate gender differences that affect the way men and women show up in life.

• The speaker believes that societal norms play a bigger role than innate differences. She cites examples of how toys, clothes, and shows we expose children to can shape their interests and ambitions.

• While she acknowledges that some people may have an innate desire for family life, she does not believe it is a gender-specific trait.

From Marketing to International Studies

In this section, the speaker talks about her college education and how it shaped her career path.

Failed Attempt at Marketing

• The speaker wanted to study marketing but failed the entrance exam due to lack of interest in topics like return on investment and television views.

International Studies as a Better Fit

• She ended up studying International Studies which was a mix of anthropology, women's studies, gender studies, international relations, etc.

• This degree helped her understand people better which is crucial in her current job where she deals with human behavior all day long.

Understanding Human Behavior

In this section, the speaker talks about how her education helped her connect dots between different aspects of human behavior.

Connecting Dots Between Different Aspects of Human Behavior

• Her education helped her understand why people do what they do. Her work involves understanding why people date who they date, why they want what they want, how they behave, etc.

• She believes that nature vs. nurture is an interesting debate but societal norms play a bigger role in shaping our interests and ambitions.

Impact of Society on Children

• The speaker cites an example of a book she saw her son reading which had gender stereotypes about the roles of men and women in a family. She believes that we impose these stereotypes on children through toys, clothes, shows, etc.

The Birth of an Idea

Whitney Wolfe Herd talks about her dream of becoming a National Geographic photographer and how it led to the idea of creating an app that connects travelers with locals. She also shares how she ended up in the world of connecting people on the internet.

From Nat Geo to Connecting People

• Whitney Wolfe Herd dreamed of becoming a National Geographic photographer.

• She realized there was a disconnect between travelers and locals when exploring new countries, as most rely on TripAdvisor for recommendations.

• She wanted to create an app that would connect travelers with locals and allow them to experience the local culture firsthand.

• By chance, she ended up in the world of connecting people on the internet through an incubator where Tinder was launched.

Taking Advantage of Opportunities

Whitney Wolfe Herd talks about taking advantage of opportunities even if they don't seem perfect at first. She emphasizes the importance of being willing to explore stepping stones and doors that could lead to something bigger.

Leaning In

• Whitney Wolfe Herd took a marketing job opportunity at an incubator even though it wasn't exactly what she was looking for.

• That incubator turned out to be where Tinder was launched, which opened doors for her career.

• She believes in leaning into opportunities even if they don't seem perfect at first because they could lead to something bigger.

• Being brave enough to take risks is important, and people should get excited about uncertainty instead of being afraid of it.

Dealing with Uncertainty

Whitney Wolfe Herd talks about dealing with uncertainty and how it's important to be comfortable with taking risks.

Leaning In or Leaning Out

• People have a tendency to either lean in or lean out when faced with uncertainty.

• Those who lean in are the ones who create opportunities and take advantage of them.

• It's important to be comfortable with uncertainty and not wait for the perfect opportunity because it may never come.

• Being willing to explore new things, even if they don't work out, is better than not exploring at all.

Making the First Move

Whitney Wolfe Herd talks about how taking the first step can change your life, even if you have little support. She shares her experience of starting Bumble and how most of her confidants advised against it.

Taking the First Step

• Making the first move and taking that first step can change your life.

• No one can do it for you, and Whitney learned this the hard way.

• She had very little support along the way in terms of advocates or community.

• Most of her confidants advised against starting Bumble.

The Early Years of Tinder

Whitney Wolfe Herd talks about her experience with Tinder's early years and how she was told a story about its marketing strategy.

The Story of Tinder's Marketing Strategy

• Whitney heard a story about Tinder's marketing strategy 10 years ago when she was working in San Francisco with Michael Birch, the founder of Bebo.

• Tinder went to fraternities and sororities to build an isolated tight community to get product-market fit.

• Network effects really matter, especially in the dating game.

• There are only a handful of dating apps that have ever survived during Whitney's time doing this.

Building Community at SMU

Whitney Wolfe Herd talks about building community at Southern Methodist University (SMU), where she graduated from.

Rushing Sororities and Fraternities

• Whitney essentially went back to SMU after graduating because a lot of her best friends were still there.

• She got access to campus and started at sororities before going to fraternities.

• All young women downloaded the app, then ran to the fraternity and everyone started connecting.

• Whitney had an insider hook because she was technically an extension of SMU by proxy.

Timing is Everything

Whitney Wolfe Herd talks about how timing played a crucial role in her success with Tinder's marketing strategy.

The Superpower of Timing

• There was a superpower in the timing of it all because Whitney had just graduated from SMU and knew all these people.

• If some random startup founder knocked on a sorority door, the police would come.

• Whitney felt like she had an insider hook because she was technically an extension of SMU by proxy.

• Network effects really matter, especially in the dating game.

Marketing Tactics Used to Promote Bumble

In this section, the speaker talks about the marketing tactics used to promote Bumble.

Campus Promotion

• The speaker printed a thousand copies of flyers and paid students $20 each to distribute them under dorm doors, put them on windshields, and in social clubs.

• The speaker had t-shirts printed with "Don't ask for my number. Find me on Tinder" and had girlfriends wear them to bars. They would buy drinks and when people asked for their number, they would tell them to download Tinder.

Naivety as a Superpower

• Naivety is an important superpower in marketing because it allows you to create solutions from first principles instead of convention.

• Following your instinct is important if you understand what moves and motivates people.

Seeding Curiosity

• The speaker made signs that said "No Facebook, No Instagram, No Snapchat, No Bumble" and posted them all over universities.

• Young women wearing Bumble shirts were sent into classes 10 or 15 minutes late interrupting a class of 300 people. This seeded curiosity about why Bumble was everywhere.

Humor Accounts

• The team was the first tech brand to use humor accounts and pay for humor memes. They ran a network of 100 million followers on meme accounts.

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Building a Brand with a Tangible Feeling

Whitney Wolfe Herd talks about how Bumble was more than just an app in your pocket. She wanted it to be something that gave you a good feeling, not a bad one. The team's genuine purpose and buy-in created this untangible feeling that was more powerful than any ROI campaign.

Creating Something Different

• Bumble was more than just an app in your pocket.

• Wanted to create something that gave you a good feeling, not a bad one.

• Genuine purpose and buy-in of the team created an intangible feeling that was more powerful than any ROI campaign.

Doing Things Differently

Whitney Wolfe Herd talks about how her team operated differently from traditional Silicon Valley companies. They allowed their passionate marketing team to go out and paint the town yellow without interruption or distraction while their fantastic infrastructure team solved big problems through tech.

Operating Together

• Team operated differently from traditional Silicon Valley companies.

• Allowed passionate marketing team to go out and paint the town yellow without interruption or distraction.

• Fantastic infrastructure team solved big problems through tech while heart and brain could operate together.

Lessons Learned from Tinder

Whitney Wolfe Herd talks about her first startup experience at Tinder, where they moved at the speed of light. She discusses the culture of moving fast and breaking things, which became popularized by Facebook's slogan.

Moving Fast

• First startup experience at Tinder where they moved at the speed of light.

• Culture of moving fast and breaking things became popularized by Facebook's slogan.

The Early Days of Tinder

Whitney Wolfe Herd talks about the early days of Tinder, where they were a tight tribe of people fighting every day to keep the business going. She discusses how their blood, sweat, and tears went into the business and how it was extremely traumatic when she left.

Fighting Every Day

• Early days of Tinder were a tight tribe of people fighting every day to keep the business going.

• Blood, sweat, and tears went into the business.

• Extremely traumatic experience when she left.

Moving On from Tinder

Whitney Wolfe Herd talks about how it was hard to go from being in a 24/7 environment with the same people for more than two years to never seeing any of them ever again. She also discusses launching Bumble as a woman version within this context.

Leaving Tinder

• Hard to go from being in a 24/7 environment with the same people for more than two years to never seeing any of them ever again.

• Launching Bumble as a woman version within this context.

Traumatizing Experience

Whitney Wolfe Herd talks about how she was painted as a scandalous person in the media and how it was not who she was. She also talks about the adrenaline rush of building companies and how it can be isolating.

The Media Narrative

• Whitney Wolfe Herd describes how she was painted as a scandalous Gone Girl of the tech world by the media.

• She says that it was soul-crushing because it wasn't who she was.

• She watched this narrative unfold about her, but it wasn't her.

Building Companies

• Whitney Wolfe Herd talks about how one thing led to another, and now Bumble is her new path.

• Building companies feels like a 24/7 job with big ideas and passionate people.

• The ups and downs of building companies can be isolating, making it hard to connect with others who don't understand what you're going through.

Isolation & Loneliness

Whitney Wolfe Herd discusses the isolation and loneliness that comes with building companies. She also talks about regretting not connecting with important relationships during this time.

Isolation & Loneliness

• Whitney Wolfe Herd felt incredibly lonely while building companies, didn't speak to her family for many years, and thought something mattered much more than anything else.

• Eventually, your body will remind you that you are human too, and you have needs that need to be met.

• The signal will come in many ways; sometimes, it's a growing sense of loneliness, and other times it's panic attacks or your health giving out.

Intel Evo Platform

The host talks about the Intel Evo platform and how it delivers an ideal combination of features in a premium laptop.

Intel Evo Platform

• The Intel Evo platform is a premium laptop that delivers an ideal combination of features such as long-lasting fast-charging battery, Wi-Fi connectivity standards, and a super-slim design.

• Laptops with the Intel Evo badge have been rigorously tested to pass Intel's strict requirements.

Introduction to Mercedes EQ and the Electric Car Industry

In this section, Diver CEO introduces the Mercedes EQ car range and its innovative technology. He also talks about how Mercedes-Benz is making it easier for businesses to switch to electric cars.

Mercedes EQ Car Range

• The Mercedes EQ is the luxury electric range of Mercedes-Benz available across many models from SUVs to saloons.

• The Next Generation technology found in all Mercedes EQ cars is paving the way for the electric car industry.

• Mercedes me charge is a subscription service that provides access to a wide network of charging stations across the UK.

• The app shows you the precise location, current availability, and price at selected charging stations.

Whitney Wolfe Herd's Experience at Tinder

In this section, Whitney Wolfe Herd talks about her experience at Tinder and how she was treated unfairly after raising concerns.

Treatment at Tinder

• Whitney Wolfe Herd faced horrendous treatment from men at Tinder after raising concerns.

• She was called annoying and dramatic when she raised certain concerns.

• After leaving Tinder, there was a wave of mischaracterization attacks from all sides.

• There were actions taken, including a reported settlement reached at one point.

Feeling Alone and Unsupported

• Whitney Wolfe Herd felt alone and unsupported during that chapter where she was waking up to headlines about herself being described in all sorts of ways.

• She felt so alone because no matter what she said or did, she wasn't going to be able to get through there was judgment.

• She had a Scarlet Letter and that was such a devastating feeling because she was just a young professional.

Launching Bumble and Overcoming Adversity

Whitney Wolfe Herd talks about the challenges she faced while launching Bumble and how she overcame them.

Launching Bumble

• Bumble was launched on December 1st, six months after the legal pieces were put to bed.

• Launching Bumble was a 24-hour job.

• Whitney had another 24-hour job of grieving and being in fight or flight defense mode because of Twitter attacks.

• There was a chapter where Whitney didn't leave the house for several weeks during this time.

Overcoming Adversity

• Whitney had people like her now-husband Andre who supported her during tough times.

• She had to peel herself off the ground and rebuild herself after leaving Tinder in despair.

• Whitney felt that it was her duty to fix the problem of online bullying, which led her to start sketching out a new social network called Mercy.

• The idea behind Mercy was that compliments would be the only currency and way to communicate instead of negativity.

• Whitney wanted to bring the kindness found in women's bathrooms at nightclubs to life through Mercy.

• Eventually, Bumble would become what it is today.

Darkest Day

• Whitney reflects on several dark moments but one memorable moment was when they worked hard for four or five months building Bumble in stealth mode.

Launching Bumble

Whitney Wolfe Herd talks about the launch of Bumble and how it was leaked before they were ready to announce it. She discusses how hurtful it was to have her name associated with the product and how she pivoted to take control of the narrative.

Leaked Launch

• The launch of Bumble was leaked before they were ready to announce it.

• The media had created a story that portrayed Whitney as a scorned woman from Tinder who launched her own dating app, but Whitney wanted the focus to be on empowering women in relationships.

• Whitney believes that everyone has the right to start over and not be held hostage by their past experiences.

• After crying about the situation, Whitney called her team and pivoted by creating a launch video that reframed the discussion around empowering women.

Overcoming Dark Times

Whitney Wolfe Herd talks about overcoming dark times in her life, including feeling like life wasn't worth living anymore.

Feeling Hopeless

• Whitney reflects on quotes she's read about when she felt like life wasn't worth living anymore.

• During this time, she felt suffocated by a definition created by strangers and didn't know how she would escape it.