Since Bumble’s blockbuster IPO at the height of the pandemic, investors’ ardor with the dating service has cooled. At least, Bumble’s shares trade at roughly $11 per share right now, a far cry from the $76 where they ended on its first day as a public company in February 2021.

Of course, investors are fickle, which is a challenge for nearly every publicly traded company. The bigger concern for Bumble is user fatigue. People aren’t downloading dating apps as enthusiastically as they once were, which means less subscription revenue. Younger people in particular are gravitating to other platforms to find love, including TikTok, Snapchat and even Discord.