The company expects to miss out on approximately $20 million in revenue due to the conflict.
In the wake of Russia’s escalating invasion of Ukraine, Bumble has joined a growing list of American companies bailing out of the nation. The company announced on Tuesday that it was ceasing operations in Russia and withdrawing its dating applications from the Apple and Google app stores in Russia and Belarus.
- Lumen is the second big American internet service provider to pull out of Russia.
- Elon Musk is seeking to overturn a $20 million SEC settlement.
What’s notable about Bumble’s announcement is that the company details how the decision will affect its business. In addition to Bumble, it owns and operates two other dating apps, Badoo and Fruitz. Those two are popular in Europe and they’re where Bumble anticipates it will see the most impact from its decision.
In 2021, approximately 2.8 percent of Badoo’s revenue came from Russia, Ukraine and Belarus. By contrast, users from those three countries contributed to less than 0.1 percent of the revenue Bumble earned through its main app that same year. The company anticipates it will lose about $20 million in fiscal 2022 due to the conflict. To put that in perspective, the company recorded $208.2 million in revenue in fiscal 2021.
