Bumble is an ultra-modern dating website, founded in 2014. The website incorporates other services such as making new friends, and plans are underway to enable the website to render professional services. Bumble is the culmination of Whitney Wolfe’s brilliant career in the tech field. When she founded Bumble, Whitney focused on women needs in the dating world. Through her App, Whitney empowered women to be the primary initiators of conversations. That way, women can take control of who they converse. Little did she know that her idea would someday attract $450 million from Match Group. Whitney declined to sell flourishing company to her former employer.
Whitney’s journey in tech began in 2012 when co-founded Tinder. She also assumed the roles of VP of marketing. Whitney together with other Tinder co-founders nurtured the company to what it is today: the number one dating website in the world. However, Whitney quit half-way through the journey following a misunderstanding with her co-workers. After quitting, she faced challenges deciding what to pursue outside Tinder. Her resilient nature pushed her through the tough time till she found a bearing: she founded Bumble. Her decision to form Bumble can be partly attributed to Andrey Andreev who also owns 79% stake in the company.
Bumble is popular with users. The company has registered over 20 million active users. More than 10% of the users are willing to access premium services offered by the website at the cost of $9.99 per month. Bumble users were recently introduced to Bumble BFF vertical that enables them to meet new friends. Many users are eagerly anticipating the launch of Bumble Bizz vertical, a new addition that is expected in the last quarter of 2017. Bumble Bizz will make professional networking a reality for the majority of Bumble users. The continuous expansion of Bumble has led analysts to predict that the company will collect $150 million in revenues next year to learn more about us: https://www.linkedin.com/in/whitney-wolfe-1791a299 click here.
Whitney was born in Utah. Her parents, Micheal and Kelly, divorced when she was 17 years old. She is a graduate of Southern Methodist University, where she started her entrepreneurial journey. She is the co-founder of “Help Us Project” a non-profit organization.
There are many places that can help you to look and feel good without breaking the bank, but few are going to give you the quality and the comfort that Fabletics can. You may be wondering how they are going from online to a store in such a short time.
When Kate Hudson started Fabletics, she wanted great active wear that anyone could use. She wanted something that was fashionable as well as functional. That is what became Fabletics and what changed the way we do active wear.
Fabletics decided to do a different type of online sales plan. They decided to do a subscription service instead of just an online store. The way it works is you sign up for the service and then you get an outfit every month. You get to choose the styles you want, but you don’t have to do anything to get them. You only sign up the one time and then you have great clothing coming to you.
Fabletics Goes to a Store
Fabletics was doing so well online they decided to open a couple of stores in the largest cities in the US. Now you can get an outfit for your active needs as well as to wear when you just want to be comfortable. The store offers the same high quality outfits that the online store does, but you can try it on and see if they are going to fit you in the way you want to.
There are a lot of options in active wear. You may think that Fabletics isn’t for you because you have to get it online, but with the new stores, it’s not going to always be that way. Fabletics stores can give you the same high quality active wear that you want without any issues. You only need to sign up online or go to the stores they have so you can have great outfits and be happy with what you re getting. The last thing you want is to not have something that feels comfortable and that don’t have the quality you want.
Fabletics is an online clothing fashion retailer that sells Athleisure wear. It was first started in 2013 by actress Kate Hudson and some two winning businessmen named Adam Goldenberg and Don Ressler. These three business leaders had the idea to bring high quality fashion to the masses at an affordable price. Their business is now a big online hit and it is on its way to becoming a highly-rated fashion business.
Fabletics sells athleisure wear as its central product. This style of fashion wear is designed exclusively for females. Athleisure wear is stylish enough to be worn for casual outings and it can also be used for sporting or more active related events. Kate Hudson and her co-founders wanted to create a fashion line of clothing that would allow women to have this kind of flexibility. They have succeeded.
As of 2017, the company has been valued at $250 million-dollars and their future is looking bright. The reason why this company is so successful has to do with the approach that it takes toward its clients. The founders of Fabletics utilizes the process of reverse showrooming to increase their sales and to provide a detailed clothing experience for their clients.
Reverse showrooming is a process that allows women to visit a brick-and-mortar Fabletics outlet to try on clothes. As a client tries on different clothing items, a sales person at the store adds her clothing selection into an online shopping cart. In other words, if a customer wants to try on a unique athleisure wear styled dress, the sales associate will then scan the item and store it away within that particular customer’s online shopping cart and information.
The customer can then purchase the item or leave it in her cart and buy it at a later date. The sales associate will then take her clothing selection and start to bring items into the store that matches her clothing style, colors and design. This way a customer can have the type of clothing experience that she enjoys.
Reverse showrooming provides Fabletics a practical way to stay competitive as an online fashion business. While this company has brick-and-mortar locations; it does classify itself as an online business. Since it does, this organization must compete with big internet giants such as Amazon.
The problem with Amazon in terms of the fashion business; is that it dominates at least 20% of all internet related fashion sales. Amazon is a powerhouse when it comes to product price reduction. They are simply beating out other businesses because they can push huge volumes of products at low prices.
Enterprises such as Fabletics have a hard time competing with this company because they cannot undercut their prices as low as Amazon. They simply could not survive if they did. Fabletics is no exception to this reality. However, they also have managed to find a way to sell their product at a reduce cost without going broke. Fabletics have grown and survived over the past three years because of their outstanding customer service and their superior product.
Women’s fashion would not be the first thing that comes to most men’s minds when looking to start a new business. However, as the LA Times writes, Don Ressler and Adam Goldenberg saw tremendous opportunity when they decided to team together and launch a new organization. The idea was JustFab. JustFab is an online clothing retailer that focuses on women’s apparel. Adam and Don had no experience with working in retail or with women’s fashion. Their focus was on a new manner in which the consumers would access the product. JustFab’s business model allowed consumers to shop online and make purchases at a significantly discounted price if they joined the site as members. Membership was a monthly fee no matter if a purchase was made or not. The discounts that were available with the membership proved worth it to those who decided to join the JustFab website. The company grew rapidly. Don and Adam were forced to bring in investors in order to keep up with the insatiable demand for their new product line. JustFab is now an international selling enterprise.
Fabletics soon followed as a new concept within Don and Adams business organization. Fabletics is a line of women’s athletic clothing. The two businessmen joined forces with actress Kate Hudson in order to promote the line. Fabletics had immediate success. Don and Adam looked to diversify the marketing plan for the new athletic line. Eventually they decided to open retail stores in specific locations in order to provide consumers with the opportunity to physically browse the items they were shopping for. Material that is purchased inside of a store is logged into a shoppers membership profile the same way it is if they had bought the item online. The profile keeps track of a shoppers buying tendencies and recommends new products for them on a periodic basis. This concept was put in place in order to keep members actively involved in the website.
Don Ressler and Adam Goldenberg met at Intermix when they were both young executive within the company. Adam had founded a startup company called Gamers Alliance and sold it to Intermix for millions of dollars. He was the youngest executive at the company along with Don Ressler who had also sold his startup company known as Fitness Heaven. Intermix was bought out by another corporation. Don and Adam decided that it was in their best interest to leave the company and become partners in a venture of their own. Check out Don Ressler on LinkedIn for another window into what he has planned next for his career and his companies