Bumble sunsets acquired apps, Fruitz and Official, to cut costs

Core Insights - Bumble is discontinuing its acquired apps Fruitz and Official to refocus on its core businesses, Bumble and Badoo [1][3] - This decision contradicts earlier statements made in Q1 2024 regarding a commitment to acquisitions for growth [2] - The closure of these apps is expected to result in a revenue headwind of approximately $12 million for the year [3] Financial Performance - Bumble reported a 4.4$261.6 million from $273.6 million [6] - Revenue from the Bumble app decreased by 3.8$212.4 million, missing the guidance range of $207 million to$211 million [6] - Following a disappointing first-quarter revenue forecast, Bumble's shares fell over 27% [7] Strategic Focus - The company plans to launch new features, including a "Discover" tab for finding matches based on interests and a way to share profiles in person [4] - The founder emphasized the need to restore confidence and joy in the user experience, indicating a shift in focus for the product [5]