Bumble makes its first acquisition with the purchase of French dating app Fruitz.

• On Monday, Bumble announced the acquisition of Fruitz, a French dating app.
• The deal marks its first-ever acquisition.
• Bumble did not provide information on Fruitz's total user base but stated that it is experiencing significant growth in France, Belgium, Netherlands, Switzerland, Spain, and Canada.

On Monday, it was announced that the company had acquired Fruitz, a French dating app, signifying its first acquisition.

The terms of the deal were not provided.

Fruitz, founded in 2017, promotes open and honest communication of dating intentions through the use of four different fruit metaphors. Although Bumble declined to comment on Fruitz's total user base, it stated that the platform is experiencing rapid growth in France, Belgium, Netherlands, Switzerland, Spain, and Canada.

Bumble's flagship app utilizes the "freemium" model, where the app is free and users can enhance their experience with in-app purchases, such as its premium service for $39.99 a month.

Gen Z is a younger group newly entering the dating market, and Fruitz has a wide user base among this demographic, which could help Bumble achieve high growth targets.

Despite the increasing popularity of dating apps, analysts predict there is still significant potential for expansion.

Despite the growing social acceptance of online dating, penetration rates have remained low, providing ample room for growth in the industry, according to Goldman Sachs' note from last month.

The global online dating market is projected to expand at a 13% annual growth rate over the next several years, reaching almost $10 billion by 2025, according to Piper Sandler's January report. Additionally, the international market is predicted to surpass the North American market in growth, analyst Matthew Farrell stated.

Companies are exploring new ways to tap into the market by moving beyond the traditional "swipe left" and "swipe right" model in their apps.

Bumble and Hinge have introduced new features such as audio, video, and experiences to their dating apps, allowing users to interact in a unique way. These features aim to increase user engagement and encourage them to spend more time and money on the apps, ultimately leading to stronger connections and potentially attracting more people online.

Bumble has expanded its flagship app to include sections focused on friendship and business, with the belief that platonic relationships hold the potential for future social growth.