Bumble
Details of the acquisition deal have not been released. Sensor Tower data states that Fruitz has been downloaded 5.6 million times, globally.
Like Bumble, Fruitz's basic services are free to use, but additional features cost more. Bumble has a premium membership service for $39.99 per month, and Fruitz has a number of in-app purchase options.
Also like Bumble, Fruitz is attempting to differentiate itself from traditional "swipe left" "swipe right" models made popular by Match Group's
"Expressing what you're looking for is not easy because we're fearful of being judged. As a result, no one was being honest with their intentions and everyone was wasting each other's time," Fruitz CEO and co-founder Julian Kabab said. "Empowering people to be honest with their intentions was our first mission."
While the similarities between Bumble and Fruitz might seem like a good enough reason for Bumble to make its purchase, the true motivation behind the deal is probably Fruitz's younger user base. Gen Z, the generation including those born roughly between 1995 and 2015, are joining the dating app market in ever-growing numbers, and Fruitz is one of the preferred apps for these users.
"Fruitz is a brand and leadership team that I've been following for years," Bumble founder and CEO Whitney Wolfe Herd, wrote in a statement. "By plugging the app into our technology platform, community support, brand and growth marketing, we can accelerate Fruitz's growth."
Bumble has no public plans to rebrand or change operations at Fruitz. The nine-person team of employees and co-founders will continue to run the app from France.
Goldman Sachs wrote in a note last month that dating apps are growing and evolving, but that their "penetration rates have remained low", meaning there's plenty of room to grow. For apps like Bumble, that evolution has included the addition of new ways to connect with others, like audio and video. Dating apps hope to encourage users to spend more time and money on their services by adding to the options they provide.
According to analysts, by 2025, the online dating market is expected to be worth $10 billion, growing at an average compounded rate of 13% per year. During that time, the international market is expected to surpass the North American market in size.
Another new realm for dating apps is platonic relationships. Already, Bumble has added business and friendship-focused sections to its app.