![Andrey Andreev](https://m.economictimes.com/thumb/msid-83114284,height-150,width-150/magazines/panache/panache-people-101/andrey-andreev.jpg)
Andrey Andreev
Founder, Badoo- Andrey Andreev did a course in management from a university in Russia; right from his college days he set up various Internet-based businesses in the country
- His passion to help people meet in the modern, mobile age led to the establishment of Badoo in 2006. The app was one of the first in mobile-focused dating and has over 425 million users worldwide
- He used the money from the venture and reached out to Whitney Wolfe Herd, who previously co-founded Tinder. In 2014, they launched Bumble, an app that combats misogyny by empowering women to make the first move
- With this, the duo built a lucrative business based on female empowerment. Bumble is now the second-most popular dating app in the US after Tinder with users in over 150 countries
- Andreev has been at the forefront of innovation in the dating industry and diversified the business with the launch of Chappy in 2017 and Lumen in 2018
- Chappy's primary objective is to provide a safe space for gay dating whereas Lumen focuses on people over fifty facing loneliness and ageism, thereby capitalising on an underserved market
- To compete better with Match Group’s Tinder, and Facebook's dating feature, Andreev created a holding company called MagicLab in 2019 to operate a portfolio of mission-driven brands that housed - Badoo, Bumble, Chappy and Lumen
- MagicLab, a pioneer in the online dating segment, became one of the world’s biggest dating and social networking companies with over 500 million connections on its various platforms
- However, in November 2019, Andreev sold his stake in MagicLab to the private equity firm Blackstone Group and quit as part of the deal. The PE firm said its target was to invest in fast-growing companies and valued the company at about $3 billion
Before you go ...
- Andreev plans to devote some of the money from the sale of MagicLab toward philanthropic causes
- He is very passionate about food and loves cooking
- His favourite attire is a white t-shirt and jeans