Wikipedia
Blibber-Blubber was the first bubble gum formulation, developed in 1906 by Frank H. Fleer. However, the gum was never marketed; its texture resembled Silly Putty. It was brittle and sticky and produced sticky wet bubbles that splattered when burst, instead of snapping back, as the formula had too low surface tension and elasticity.
In 1928, after a number of unsuccessful tests of different formulas, Walter Diemer, an accountant, an employee of the Frank H. Fleer Company, improved the Blibber-Blubber formulation by adding latex. The result was the first commercially successful bubble gum, Dubble Bubble. Diemer colored his creation pink because it was the only food coloring he had at the time. Dubble Bubble's pink color set a tradition for nearly all bubble gums to follow.