Ithaca Holdings to Take Bumble Private in $1.3 Billion Deal
The proposed acquisition would remove the dating-app company from public trading, after its market value fell sharply from its 2021 peak.
Key takeaways
- Ithaca Holdings will acquire Bumble in a deal valued at $1.3 billion.
- Bumble reached a market value of about $14 billion at its 2021 IPO.
Dating-app company Bumble will be acquired by investment firm Ithaca Holdings in a $1.3 billion deal, according to Bumble. The planned acquisition would take the company off the stock market.
The deal price is far below Bumble’s market value of about $14 billion at its 2021 IPO. The company was valued at around $340 million last week, according to the report.
Bumble has faced falling revenue as interest in online dating wanes among younger users. The company dropped a feature that allowed only women to start conversations in August.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
