queen bee

Texas entrepreneur might join exclusive list of local billionaires after buzzy deal

Whitney Wolfe Herd might be joining Austin's exclusive billionaires club. Photo by Kristen Kilpatrick

An Texas tech entrepreneur soon might join the city's exclusive billionaires' club.

Whitney Wolfe Herd, founder and CEO of Austin-based dating-app provider Bumble, could move from millionaire to billionaire status if, according to reports, her Austin-based company goes public. The Bloomberg news service reported September 1 that Bumble is preparing an initial public offering, or IPO, of its stock. The IPO could value Bumble at $6 billion to $8 billion, according to Bloomberg.

In November, private equity giant Blackstone Group Inc. bought a majority stake in Bumble. At the time, Herd's Bumble business partner, Andrey Andreev, sold all of his shares in the company to Blackstone. But the Wall Street Journal reported that Herd retained the "vast majority" of her Bumble holdings. In its announcement of the deal, Blackstone said Bumble (then known as MagicLab) was valued at $3 billion.

It's not known how much of a stake in Bumble that Herd still owns; in 2017, Forbes reported she controlled 20 percent of the company's stock. If that's still the case and Bumble's value shoots to $6 billion to $8 billion with the IPO, Herd might wind up sitting on a fortune — at least on paper — in the range of $1.2 billion to $1.6 billion. Keep in mind, though, that this is a rough estimate, given the lack of clarity surrounding Herd's ownership stake.

In 2019, Forbes estimated Herd's net worth at $290 million. Before Herd established the women-centric Bumble app in 2014, the Southern Methodist University alum co-founded the Tinder dating app.

If the Bumble IPO materializes and Herd's net worth soars above $1 billion, she'd become Austin's eighth billionaire — and its second female billionaire, according to Forbes.

Last year, Herd told Inc. that she wants Bumble to be prove that a company "can still drive massive profit and be a good business model while pushing the needle on safety and privacy for users."

If Herd does soar to the billionaire stratosphere, she'll be in good company here. Tech mogul Michael Dell leads Austin's billionaire crew, followed by private equity king Robert Smith, vodka guru Tito Beveridge, hair care and tequila magnate John Paul DeJoria, tech titan Thai Lee, software baron Joe Liemandt, and private equity tycoon Brian Sheth. Lee is currently only woman in the bunch.

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This article originally ran on CultureMap.

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Building Houston

 
 

Meet MIA — Houston Methodist's new voice technology assistant. Photo via Getty Images

Hey, MIA. Start surgery.

These are the words Houston doctors are learning to say in the operating rooms, thanks to a first-of-its-kind voice technology developed by the Houston Methodist's Center for Innovation in collaboration with Amazon Web Services. In the same way we use programs like Alexa or Siri to make our everyday tasks easier, the Methodist Intelligent Automation, or MIA, is allowing medical professionals to improve the way they interact both with technology and patients alike.

"There's been a push in the industry for a long time that people sitting behind computers and typing and staring at a computer screen is inadequate," says Houston Methodist Chief Innovation Officer Roberta Schwartz. "There's been a desire to return people back to each other rather than physicians and look at a screen and patients look at a doctor looking at a screen."

Currently in its pilot phase, MIA is working to do just that through two key functions that shift the way medical professionals work in what Schwartz calls the "era of electronic medical records."

The first is through operating room voice commands. Here medical professionals can run through a series or checklists and initiate important actions, such as starting timers or reviewing time of anesthesia, through voice instead of by typing or clicking, which can become cumbersome during lengthy and highly detailed surgeries. Information is displayed on a large 80-inch TV in the operating suite and following surgery all of the data captured is imported into the traditional EMR program. The technology has been prototyped in two Houston Methodist O.R. suites so far and the hub aims to trial it in a simulation surgery by the end of the year.

Additionally, the hub is developing ambient listening technology to be used in a clinical setting with the same goal. Houston Methodist and AWS have partnered with Dallas-based Pariveda to create specialized hardware that (after gaining patient permission) will listen into doctor-patient conversations, transcribe the interaction, and draft a note that is then coded and imported directly into the EMR.

"For EMR the feedback is that it's clunky, it's click-heavy, it's very task oriented," says Josh Sol, who leads digital and clinical innovation for Houston Methodist. "Our goal with the Center for Innovation and this technology hub is to really transform that terminology and bring back this collaboration and the patient-physician relationship by removing the computer but still capturing all the pertinent information."

The ambient listening technology is further off and is currently in user acceptance testing with clinicians.

"They've had some great feedback, whether it's changing how the note is created, changing the look and feel of the application itself," Sol adds. "All feedback is good feedback at this point. So we've taken it in, we prioritize the work, and we continue to improve the application."

And the hub doesn't plan to stop there. Schwartz and Sol agree that the next step for this type of medical technology will be patient facing. They envision that in the near future appointment or surgery prep can be done through Alexa push notifications and medication reminders or follow up assessments could be done via voice applications.

"It's all going to be of tremendous value and it's coming," Schwartz says. "We may be taking the first baby steps, but each one of these voice technologies for our patients is out there on the horizon."

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