Bumble’s Stocks Drop 33%, Tinder Laying Off Staff | What’s Going Wrong at Dating Apps?

Bumble stocks crashed almost 33% to a record low on August 8 as its $1 billion valuation dropped by $350 million. Its stocks tumbled 39% during the trade, marking the biggest intraday fall on record. It had also laid off a third of its workforce earlier this year. Even Tinder parent Match also said to cut 6% staff. What’s going wrong with dating apps? Why is their business going through a tough time? Watch the full video to know!