7 Cheap Social Media Stocks to Invest In

2. Bumble Inc. (NASDAQ:BMBL)

Forward P/E: 6.35

Analysts’ Upside Potential: 9.63%

Number of Hedge Fund Holders: 26

Bumble (NASDAQ:BMBL) is a social networking and online dating application that operates through subscription and in-app purchases of products in Europe, North America, and several other countries. The company provides these services through the various websites and applications it owns and operates. Its five primary apps of operation include the Bumble app, Bumble for Friends app, Badoo app, Official app, and Fruitz app.

Users of the Bumble app can input their information and set up customizable profiles to connect with others. Badoo app users can also customize their profiles in several ways, such as by using the Moods feature. Apart from dating, the Bumble app provides products that allow social connection, allowing users to develop platonic connections through the BFF mood for friendships and Bizz mode for professional networking and mentorship.

The company is continuously evolving its product offerings. It launched the first chapter of Bumble App’s Evolution, rolling out a refreshing-looking feel, opening moves, enhanced onboarding, and improved profile creation plans. The launch achieved the company’s two significant objectives: delivering a better experience for women and boosting engagement. Since Bumble (NASDAQ:BMBL) is experiencing an increase in users with high-quality profiles and matches for women, it is on the path to achieving the customer value that drives long-term sustainable growth.

The company’s future plans are centered on three primary areas: its revenue strategy, customer experience, and ecosystem. Fostering a vibrant ecosystem will allow improved retention, better engagement, and more successful outcomes for its customers, driving growth. In addition, Bumble (NASDAQ:BMBL) is redirecting its experiential and re-engagement marketing strategies to mature markets with strong brand recognition.

Bumble (NASDAQ:BMBL) is investing in marketing technology and data to achieve its goals, including improved analytics capability to personalize customer reach and optimize the RPO of its spending across various markets. It is also continuing its product innovation strategy, working on the next chapters of the Bumble app evolution. It is set to launch several new features through the fall and early winter, including new interest filters, more options for making opening moves, customization to its chat timer, and improvements in its core matching algorithm.