[ad_1]
Good morning, Broadsheet readers! Court of Appeals rules Texas can ban life-saving abortions, Sherrell Parker becomes Philadelphia’s first female mayor, and Bumble’s Whitney Wolfe Herd moves from CEO to chair He shared his best business advice. Have a wonderful Thursday!
– Buildings like Bumble. This week, Whitney Wolfe Herd officially resigned as CEO of Bumble. She founded Bumble, the company’s flagship dating app, nearly a decade ago. On January 2, Wolfe Herd became chairman of the company’s board, and former Slack chief executive Lidiane Jones took over as CEO.
The high-profile leadership change is a time of reflection for Wolfe Herd, who wrote on Instagram: “I never asked for this.”[s] “stop growth” and take on board roles.
Her reflections began earlier this week. Late last year, she spoke with Wolf Herd, who debuted the class on her education platform MasterClass. Ten years into her journey as the founder and CEO of her startup, she wanted to share her business lessons with those who have followed her own career.
“On paper, I really shouldn’t be here today,” she told me. “I want to show anyone that anything is possible if you think differently and believe in yourself.”
Wolfe Herd’s Masterclass explores how she founded Bumble after being fired from rival dating app Tinder and suing her former employer for sexual harassment. (Her case was solved.) She describes the steps she took to figure out what to do next.
Courtesy of Masterclass
The first action was to identify the “big problem”. For Wolfe Herd, it was toxicity online and in relationships. She then came up with Bumble’s signature feature of women being “first to act” and defined the white space her startup could work within that problem. She strives to pinpoint an underserved audience (in this case women in the dating market) and understand what they want and don’t want in their love lives. Ta. Wolfe Herd tells Masterclass viewers that an idea “doesn’t have to be complicated” to be successful. It has to be authentic and inherit their DNA.
But even though Wolfe Herd is no longer CEO, he doesn’t just take credit for the business he built. “I don’t think it’s all about me,” she told me. “This is a trace of everyone who came here and touched it in their own way. Even if it was the person who delivered the package and said every word, it could change the directory of the company. I have left my mark, but it is collective.”
Since Bumble’s birth story, the company has gone through many iterations. The biggest change came in 2019 when Blackstone bought a majority stake in the business, elevated Wolf Herd to CEO of Bumble’s parent company, and in 2021 made Wolf Herd the youngest woman to go public. I woke up when Since then, Bumble’s stock has fallen about 80% in a tough market for the online dating industry.
Wolfe Herd encourages aspiring founders to always ask big questions, just as she did when figuring out how to get through each stage of a business. “If something isn’t changing, if something isn’t growing, it’s dying,” she says. “We never want to be in a stagnant place.”
emma hinchliffe
emma.hinchliffe@fortune.com
@_Emma Hinchliffe
The broadsheet is luck’A newsletter for and about the world’s most powerful women. Today’s issue was edited by Alicia Adamczyk. Subscribe here.
Also featured in the headline
– Epstein’s trajectory. Yesterday, the first in a new series of documents about convicted sex offender Jeffrey Epstein was unsealed. So far, the documents have revealed most of the names already associated with Epstein, including Bill Clinton and Prince Andrew, but more names are expected to be revealed in the coming weeks. ing. luck
– The ban was upheld. The U.S. Court of Appeals for the Fifth Circuit ruled Tuesday that hospitals and doctors in Texas are not required to perform life-saving abortions.After Texas’ near-total abortion ban was overturned. egg v. wade, the Biden administration said hospitals are obligated to provide medically necessary abortions under the Emergency Medical Care Labor Act. But the court ruled that this was an overstep of Biden’s authority and said Texas could indeed ban the life-saving procedure. texas tribune
– These are good jeans. Abercrombie stock rose 285% last year, outperforming S&P 500 stocks such as Nvidia and Meta. The company, led by CEO Fran Horowitz, is one of the few retailers to raise its fiscal year outlook for the fourth quarter of 2023. The result is the culmination of a multi-year effort to revive the brand, which gained popularity in the early 2000s. Barons
– director’s cut. barbie may have been the highest-grossing film of 2023, but its success is not indicative of widespread equality within Hollywood. According to USC Annenberg’s annual Oversight Committee Participation survey, only 12.1% of the top 100 films of 2023 were directed by women. The situation for women of color is even worse, with only four of them directing one of last year’s top 100 films. In her 17 years in which USC conducted the study, she was one of only 19 women of color to direct a film in the top 100. hollywood reporter
– A city of sisterly love. Sherrell Parker was sworn in as Philadelphia’s 100th mayor on Tuesday, making her the first Black woman and woman to hold the job. She immediately got to work and began working on public safety and public safety initiatives that are part of an action plan to make Philadelphia “the safest, cleanest, greenest metropolis in America, with economic opportunity for everyone.” Signed three executive orders related to economic development. NBC Philadelphia
Mover and shaker: Hired by Rockefeller Capital Management alexandra lowenthal as Managing Director and Senior Banker.
on my radar
The words that broke Claudine Gay new york times
Meet Françoise Betancourt Meyers, the L’Oréal heiress and the first woman to amass a $100 billion fortune. business insider
maestro Felicia Montealegre is almost righteous. Elle
parting words
“Inclusion is inclusion for everyone. That’s what matters most, and we make no apologies for making sure everyone feels seen. ”
— Arlene Gordon-Hollingsworth On the success of my family’s YouTube channel “Gracie’s Corner”
[ad_2]
Source link
