Bumble is sponsoring 50 collegiate women athletes in honor of this week’s 50th Anniversary of Title IX. Photo by Kristen Kilpatrick

Bumble is causing a buzz once again, this time for collegiate women athletes. Founded by recent Texas Business Hall of Fame inductee Whitney Wolfe Herd, the Austin-based and female-first dating and social networking app this week announced a new sponsorship for 50 collegiate women athletes with NIL (name, image, and likeness) deals in honor of the 50th anniversary of Title IX.

Established in 1972, the federal law prohibits sex-based discrimination in any school or other education program or activity that receives federal money. According to the Women’s Sports Foundation, the number of women in collegiate athletics has increased significantly since Title IX, from 15 percent to 44 percent.

That said, equity continues to lag in many ways, specifically for BIPOC women who make up only 14 percent of college athletes. The findings also share that men have approximately 60,000 more collegiate sports opportunities than women, despite the fact that women make up a larger portion of the collegiate population.

With this in mind, Bumble’s new sponsorship seeks to support “a wealth of overlooked women athletes around the country,” according to the beehive’s official 50for50 program page.

“We're embarking on a yearlong sponsorship of 50 remarkable women, with equal pay amounts across all 50 NIL (name, image, and likeness) contracts,” says the website. “The inaugural class of athletes are a small representation of the talented women around the country who diligently — and often without recognition — put in the work on a daily basis.”

To celebrate the launch of the program, Bumble partnered with motion graphic artist Marlene “Motion Mami” Marmolejos to create a custom video and digital trading cards that each athlete will post on their personal social media announcing their sponsorship.

“These sponsorships are an exciting step in empowering and spotlighting a diverse range of some of the most remarkable collegiate women athletes from across the country. Athletes who work just as hard as their male counterparts, and should be seen and heard,” says Christina Hardy, Bumble’s director of talent and influencer, in a separate release. “In honor of the 50th anniversary of Title IX, we are so proud to stand alongside these women and are looking forward to celebrating their many achievements throughout the year.”

“Partnering with Bumble and announcing this campaign on the anniversary of Title IX is very special,” said Alexis Ellis, a track and field athlete. “I am grateful for the progress that has been made for women in sports, and am proud to be part of Bumble’s ’50for50’ to help continue moving the needle and striving for more. I look forward to standing alongside so many incredible athletes for this campaign throughout the year.”

“I am so grateful to team up with Bumble and stand alongside these incredible athletes on this monumental anniversary,” said Haleigh Bryant a gymnast. “Many women continue to be overlooked in the world of sports, and I am excited to be part of something that celebrates, and shines a light on, the hard work, tenacity, and accomplishments of so many great athletes.”

Last year, the NCAA announced an interim policy that all current and incoming student athletes could profit off their name, image, and likeness, according to the law of the state where the school is located, for the first time in collegiate history.

The 50for50 initiative adds to Bumble’s previous multi-year investments in sports. In 2019, Bumble also launched a multi-year partnership with global esports organization Gen.G to create Team Bumble, the all-women professional esports team.

To see the 50for50 athletes, visit the official landing page.

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This article originally ran on CultureMap.

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

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

queen bee

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.

BumbleSpot launched in Houston at all three Nourish Juice Bar locations. Courtesy of Nourish

Texas-based Bumble launches Houston meet-up hubs for safe and productive interactions

Digital turned reality

Turning digital connections into real-life associations can be a little nerve wracking, no matter the context. Austin-based Bumble, a dating app that's expanded to become a networking resource, is trying to make that first face-to-face meeting a little safer and smoother.

"The idea for BumbleSpot is to create a network of physical locations across the US and Canada that support our mission to end misogyny and empower women in their relationships across all aspects of life," Andee Olson, director of partnerships at Bumble, says in a press release.

Over 80 BumbleSpots have been named — with more promised to announce over the next year. While Houston wasn't among the roll-out cities, it officially has three BumbleSpots to choose from, as all three Nourish Juice Bar locations have signed on as partners.

Jessica Huffman opened the first Nourish Juice Bar in the summer of 2015 in Montrose, and her Rice Village and Heights locations followed suit. She says when Bumble reached out to her, she jumped onboard since she has mutual friends with Bumble's founder and CEO, Whitney Wolfe Herd.

To be a BumbleSpot, the establishment must agree to uphold the mission and values of Bumble, which prioritizes safety, kindness, respect, equality, accountability, and growth, according to a Bumble spokesperson.

Huffman says Nourish is perfect for Bumble with its focus on healthy foods and a friendly environment.

"When you're in Nourish, you're probably going to see me or my brother or one of our employees who's worked there for a while," Huffman says. "We talk to everyone all the time and always try to make people feel comfortable."

A spokesperson says more Houston partners are coming, as local business have expressed interest following the launch of BumbleSpot.

Bumble premiered in 2014 as a female-first dating app, and moved its headquarters to Austin in 2017. In March of 2016, it launched BumbleBFF focused on creating friendships. Then, just a few months later, it launched BumbleBizz focusing on making business connections.

In August, the company launched Bumble Fund — an early-stage investment fund focused on female-led companies. The fund's first five benefactors were named as BeautyCon, Cleo Capital, Female Founders Fund, Mahmee, and Sofia Los Angeles.

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Houston doctors recognized among top creative leaders in business

winners

This week, Fast Company announced its 14th annual list of Most Creative People in Business — and two notable Houstonians made the cut.

Dr. Peter Hotez and his fellow dean of the National School of Tropical Medicine at Baylor College of Medicine, Dr. Maria Elena Bottazzi, were named among the list for “open sourcing a COVID-19 Vaccine for the rest of the world.” The list, which recognizes individuals making a cultural impact via bold achievements in their field, is made up of influential leaders in business.

Hotez and Bottazzi are also co-directors for the Texas Children's Hospital's Center for Vaccine Development -one of the most cutting-edge vaccine development centers in the world. For the past two decades it has acquired an international reputation as a non-profit Product Development Partnership (PDP), advancing vaccines for poverty-related neglected tropical diseases (NTDs) and emerging infectious diseases of pandemic importance. One of their most notable achievements is the development of a vaccine technology leading to CORBEVAX, a traditional, recombinant protein-based COVID-19 vaccine.

"It's an honor to be recognized not only for our team's scientific efforts to develop and test low cost-effective vaccines for global health, but also for innovation in sustainable financing that goes beyond the traditional pharma business model," says Hotez in a statement.

The technology was created and engineered by Texas Children's Center for Vaccine Development specifically to combat the worldwide problem of vaccine access and availability. Biological E Limited (BE) developed, produced and tested CORBEVAX in India where over 60 million children have been vaccinated so far.

Earlier this year, the doctors were nominated for the 2022 Nobel Peace Prize for their research and vaccine development of the vaccine. Its low cost, ease of production and distribution, safety, and acceptance make it well suited for addressing global vaccine inequity.

"We appreciate the recognition of our efforts to begin the long road to 'decolonize' the vaccine development ecosystem and make it more equitable. We hope that CORBEVAX becomes one of a pipeline of new vaccines developed against many neglected and emerging infections that adversely affect global public health," says Bottazzi in the news release from Texas Children's.

Fast Company editors and writers research candidates for the list throughout the year, scouting every business sector, including technology, medicine, engineering, marketing, entertainment, design, and social good. You can see the complete list here

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Samsung sets sights on nearly $200 billion expansion in Texas

chipping in

As it builds a $17 billion chipmaking factory in Taylor, tech giant Samsung is eyeing a long-term strategy in the Texas area that could lead to a potential investment of close to $200 billion.

Samsung’s plans, first reported by the Austin Business Journal, call for an additional $192.1 billion investment in the Austin area over several decades that would create at least 10,000 new jobs at 11 new chipmaking plants. These facilities would be at the new Taylor site and the company’s existing site in Northeast Austin.

The first of the 11 new plants wouldn’t be completed until 2034, according to the Business Journal.

“Samsung has a history already in the Austin market as an employer of choice, providing high wages, great benefits, and a great working environment. All of this will be on steroids in the not-too-distant future, creating a historic boost to the already booming Austin economy,” John Boyd Jr., a corporate site selection consultant, tells CultureMap.

Samsung’s preliminary plans were revealed in filings with the State of Texas seeking possible financial incentives for the more than $190 billion expansion. The South Korean conglomerate says the filings are part of the company’s long-range planning for U.S. chipmaking facilities.

Given that Samsung’s 11 new plants would be decades in the making, there’s no certainty at this point that any part of the potential $192.1 billion expansion will ever be built.

Last November, Samsung announced it would build a $17 billion chipmaking factory in Taylor to complete its semiconductor operations in Northeast Austin. Construction is underway, with completion set for 2024. Boyd proclaimed last year that the Taylor project will trigger an “economic tsunami” in the quiet Williamson County suburb.

The Taylor facility, which is expected to employ more than 2,000 people, ranks among the largest foreign economic development projects in U.S. history. The impact of a nearly $200 billion cluster of 11 new chipmaking plants would far eclipse the Taylor project.

The Taylor factory will produce advanced chips that power mobile and 5G capabilities, high-performance computing, and artificial intelligence.

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This article originally ran on CultureMap.