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Investing.com — Bumble Inc (NASDAQ:BMBL) has acquired France-based Gen Z dating app Fruitz, the company announced Monday, its first ever acquisition.
Fruitz has seen rapid growth in France, Belgium, the Netherlands, Switzerland, Spain and Canada, with around 5.6 million downloads globally across the App Store and Google (NASDAQ:GOOGL) Play.
No financial terms were disclosed.
Bumble already has a significant European presence with the Bumble and Badoo apps but is now focusing on attracting a Gen Z audience with the Fruitz acquisition.
The French app, co-founded by Julian Kabab (CEO), Fabrice Bascoulergue (CTO), and Arnaud Ruols (CFO), helps users match with others by assigning a fruit to each particular kind of relationship.
“Fruitz is a brand and leadership team that I’ve been following for years,” said Whitney Wolfe Herd, Bumble Founder, and CEO.
“Julian, Fabrice, and Arnaud are dynamic and brilliant leaders who have built a unique product that has struck a powerful chord with consumers in France and across Europe.”
Bumble said the acquisition will see it combine Fruitz’s Gen Z product with its machine learning, marketing, localization, and safety platforms.
Bumble Inc now has the Bumble, Badoo, and Fruitz apps under its banner, with more than 800 employees in offices in Austin, London, Barcelona, Paris, and Moscow.
Bumble is down .2% on the day, and down 62% from 52-week highs.
