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Allegation: Bumble is Another Tech Fraud
The CEO is stepping down because fraudulent user numbers were discovered
See, it appears that Bumble has been inflating their, specifically female, user numbers since inception, including in public filings. That would specifically constitute fraud. Significant fraud in fact. The author of the above article probably let the board of Bumble know and my guess was the CEO was quickly showed the door. The author is also apparently under siege:
I’m writing this because Bumble hired one of the worlds most expensive, and reputable international law firms on earth to shut me down, and shut me up. Bumble wants to take my assets, my home, and everything I have for finding cheaters on the platform. It’s very vindictive.
Not only did they create fake bot female accounts using Twilio, they also kept deleted female accounts alive, and also did not require verification of female accounts. Again, this was all to artificially boost the number of both overall accounts, but specifically women, using the platform.
No wonder the stock has cratered over the last few years. This is catastrophic news that so far has been flying under the radar and to be fair is more of an allegation. I would expect more news in the coming weeks.
If true, Whitney Wolfe Herd would join the growing ranks of Forbes 30 Under 30 who were in fact massive fraudsters such as SBF, Elizabeth Holmes, and Charlie Javice among others. According to one source, members of the 30 under 30 list have raised $5.3 billion in funding but been connected to $18.5 billion in fraud. I myself have been offered a spot for $50,000. It’s basically an open joke to anyone in startups.
I won’t even mention a very glaring statistical anomaly in that list lest I get cancelled.
Dating apps are all basically fraud these days, but that’s for another day.