Andrey Andreev facts for kids

Andrey Andreev (born February 3, 1974) is a technology entrepreneur. He was born in Russia and later became a British citizen. He is famous for creating popular social networking and dating apps like Bumble and Badoo.

In 2019, Andreev sold his company, MagicLab, for $3 billion. After that, in 2020, he started a new app called Stereo. He also created other successful companies before these, such as SpyLog, Begun, and Mamba.

Early Life and Interests

Andrey Andreev grew up in Moscow, Russia. From a young age, he was very interested in how people communicate using technology. He even built his own radio when he was a preteen. The first person he talked to on his radio was from New York!

Moving to London

In 2005, Andreev moved to London, England. He settled in an area called Covent Garden. Three years later, in 2008, he became a British citizen.

Hobbies and Recognition

Andreev loves cooking and sometimes helps create dishes for his favorite restaurants. There is even a sweet onion soup named after him at a famous restaurant in London.

In 2018, Forbes magazine listed Andreev as one of the world's billionaires for the first time. By August 2022, his wealth was estimated to be $2.0 billion.

Building a Career

First Businesses

Andrey Andreev left the University of Moscow after less than a year in 1992. He then moved to Valencia, Spain. There, he started several businesses and sold them for a profit.

One of his early companies was Virus, which sold computers online in Russia from 1995 to 1997. Another was SpyLog, created between 1999 and 2001. SpyLog was software that helped website owners see who was visiting their sites.

Digital Advertising and Dating

In 2002, Andreev founded Begun, a company focused on digital advertising. He sold most of his share in Begun in 2003 and the rest in 2004.

In 2004, he launched Mamba, a dating website. It quickly became popular, gaining over 4 million users in its first year. Andreev sold his part of Mamba in 2006.

Creating Badoo

In 2006, Andreev started Badoo, a social networking and photo-sharing app. He first designed it to compete with Facebook. However, after the iPhone came out, he changed Badoo to focus more on dating.

Badoo grew very fast in Europe and Latin America. It had almost 12 million users within its first year. By 2019, Badoo had 425 million registered users around the world. It was used in 190 countries.

Andreev has said that Badoo invented the "swipe" feature, which is now common in many dating apps. He also introduced other popular features, like "rise up" and "lookalike." These features help users find others with similar interests or looks.

In April 2019, Andreev decided to use all of Badoo's earnings to help restore the Notre Dame Cathedral in Paris. This was after a big fire damaged the famous building.

Launching Bumble

In 2014, Andreev connected with Whitney Wolfe, who used to work at Tinder. He offered her a job at Badoo, but she declined. He then convinced her to create a new dating app. He offered her money and access to Badoo's team.

In December 2014, they launched Bumble. This app is special because it focuses on empowering women. In Bumble, women make the first move in conversations.

Wolfe has called Andreev her biggest mentor in business. She said he gave her a chance when no one else would. She also stated that Bumble's journey would not have been possible without him.

Andreev managed the company's operations and used Badoo's resources. He invested $10 million and owned 79% of Bumble. Wolfe was the CEO and owned 20%. Bumble shared offices and technology with Badoo in London. By November 2017, Bumble was valued at over $1 billion.

MagicLab and Stereo

In 2019, Andreev created MagicLab. This company owned several dating and social networking apps, including Badoo, Bumble, Lumen, Chappy, and Hot or Not.

In November 2019, he sold his shares in MagicLab to Blackstone Group. Blackstone became the main owner of MagicLab. At that time, Bumble and its related apps were valued at $3 billion. In 2020, MagicLab was renamed Bumble, becoming the parent company for both Bumble and Badoo.

After selling MagicLab, Andreev launched a new app called Stereo in 2020. Stereo is a social audio app where users can host and listen to live talks. The company has offices in London and Los Angeles. About 20 former MagicLab employees are now working on Stereo.