Sat down and looked at Bumble for a while. Also spent half an hour listening to video you guys had linked, here are some thoughts, will stop for now though and go much deeper before I see you. I can see what you see in the CEO, she is principled, however, I don’t want to overly trust my impressions here, the ability to read the opposite sex is not something I can be credited with hahaha. But she was very coherent and had some really interesting insights.
My concerns that I will likely prioritise are the following:
- The money that really drives this product (are users mainly hooking up or are they really trying to create relationships, and if the latter is the case what does that mean for the business model)
- The legal situation stood to me, so many suits, this is only a bloody flag though, no insight except the fact that it stuck out to me how common it was for the company to get sued lately
- The influence of private equity, I know Blackstone had got into the loop, I would want to understand what they did to the company while they were there, I could see some effects from their stay in the numbers, I wonder how this will affect the company (this really stood out by the way, I was confused to see certain line items and cash flows, and the involvement of Blackstone really made that make sense).
That is basically it for now, it was really quite surface level and although there are some line items I would want an explanation for, the earning power is there.