Dating app Bumble in advanced talks to go private at $1 billion valuation, source says
The deal would value Bumble at about $1 billion and could end a slide in shares as the company faces weaker user engagement.
- 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.
15 Articles
15 Articles
US Stocks: Dating app Bumble shares surge 52% on talks to go private at $1 billion valuation
Bumble is reportedly in advanced negotiations for a private acquisition by Ithaca Holdings, which values the company at approximately $1 billion. This potential acquisition follows a decline in Bumble's market valuation, which was around $389 million recently. Shares of Bumble saw a significant increase, which rose nearly 52% after the acquisition discussions became public. The company is facing challenges in a competitive market, particularly w…
Channel News Asia
WTVBDating app Bumble in advanced talks to go private at $1 billion valuation, source says
Oct 12 : Bumble is in advanced talks to be taken private by Ithaca Holdings in a deal that values the dating app operator at roughly $1 billion, a source familiar with the matter told Reuters on Monday.Shares of Bumble rose around 52 per cent to $3.86. Reuters exclusively reported earlier this year that Bumbl
Bumble has dragged a complicated performance over the last few years, marked by loss of users and increased competition. The publication Bumble could leave Wall Street: Ithaca Holdings negotiates the purchase of the app by 1,000 mdd appeared first in the CEO.
Coverage Details
Bias Distribution
- 67% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
