The fact that there's this huge prevalence and costs of cash that there's a lack of access for so many parts of the population into the system, that there's limited liquidity, there's high friction in commerce and payments. There's no question that digital currencies and the underlying technology have the potential to drive the next wave in financial services. Those technologies can help solve some of the fundamental problems of the system. Schulman, whose company started letting people buy cryptocurrency last year, said cryptocurrency and the distributed ledger technology behind it could make payments more efficient. PayPal chief executive Dan Schulman has become the latest to give his backing to digital currencies at the company's investor day today. It made a loss of $84.1m in the first nine months of 2020 on revenues of $376.6m.

It makes Ms Wolfe Herd one of America's most successful female entrepreneurs and one of a handful of self-made female billionaires.īumble, which is known for requiring women to initiate contact between men and women on the dating app, was formed after Ms Wolfe Herd's acrimonious departure from rival app Tinder, which she subsequently sued for sexual harassment.īumble is free but lets users pay for extras such as making their profile more prominent or seeing who has liked their profile. The leap values Bumble at around $14.5bn and makes chief executive Whitney Wolfe Herd's stake in the company worth around $1.5bn. Shares in the company jumped 77pc as the opened on Wall Street on Thursday, from the $43 IPO price at which they were sold to $76. The founder of the dating app Bumble has become a billionaire after becoming the youngest female chief executive to take a company public in the US. Sign up here for our daily technology newsletter.

Tech money could flood Bitcoin as Twitter mulls buy.

Facebook sued over plagued of fake death ads.

Following bumble ipo ceo whitney wolfe