Dating app Bumble in $1 billion takeover talks, report says
The all-cash agreement gives Bumble shareholders $6.05 per share, a 138% premium, as the company plans to remain based in Austin.
- On Monday, Bumble entered advanced talks to be taken private by Ithaca Holdings in a deal valuing the Austin-based dating app operator at roughly $1 billion.
- The company has struggled amid slowing user engagement in a crowded market, with a market valuation of roughly $389 million as of Friday's close.
- Bumble stock surged 50% to $3.81 on Monday with more than 17.7 million shares trading, though shares remain about 91% below the $43 IPO price from February 2021.
- CEO Whitney Wolfe Herd is overhauling the app with AI-powered features to revive growth, while board approval, Blackstone Inc.'s position, and financing terms remain key hurdles.
- A deal could arrive as soon as this week, though Bumble and Ithaca Holdings have not immediately responded to requests for comment.
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Bumble is sold for $1.3 billion and the founder will continue to lead the application. Disclosure/Bumble The Bumble relationship application announced on Tuesday (13) an agreement to be purchased by Ithaca Holdings for $1.3 billion (R$6.5 billion) in a full cash transaction. With the conclusion of the business, the company will cease to have shares traded on the stock exchange and become a closed-equity company. By the agreement, Bumble's shareh…
Sydney Morning Herald
Dating app Bumble sold in $1.9 billion deal after value plummets
Bumble founder Whitney Wolfe Herd became one of the youngest self-made billionaires in the world when the company listed on Wall Street in 2021. Then younger users started souring on dating apps.
Bumble, Online Dating Application, Acquired by Ithaca Holdings for USD 1.3 Billion Amid Declining Subscriber Growth
Online dating app Bumble has agreed to a $1.3 billion acquisition by Ithaca Holdings, a technology holding firm, marking a significant turn for the platform. This comes after years of declining subscriber numbers and falling revenue, amidst a challenging global and Indian online dating market plagued by user fatigue, privacy concerns, and social stigma. Bumble, Online Dating Application, Acquired by Ithaca Holdings for USD 1.3 Billion Amid Decli…
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