Bumble founder Whitney Wolfe Herd will step down as CEO and hand over the role to Lidiane Jones, the CEO of Slack. Bumble’s shares dropped nearly 7% to a record low following the announcement. Jones, who has experience in product and technology, will take over on January 2, while Wolfe Herd will remain executive chair. Bumble, known for its women-centric approach to dating, has faced pressure to grow and competition from larger rivals. The company raised over $2 billion in its IPO earlier this year.
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