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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 33 sources · 3 days · First seen · Last updated

Ithaca Holdings acquisition of Bumble

Overview

Bumble has entered into a definitive agreement to be acquired by Ithaca Holdings in an all-cash transaction valued at approximately $1.3 billion. The deal, which offers $6.05 per share, represents a significant premium over recent trading prices and will take the Austin-based dating app private.

The acquisition follows a period of financial decline for Bumble. While the company was valued at approximately $14 billion during its 2021 Nasdaq debut, its market value had fallen to roughly $582 million prior to the announcement. This downturn was driven by declining revenue and a shrinking base of paying users, which decreased by 16.4% to 3.2 million in the second quarter.

Shareholder approval for the buyout has been secured from founder Whitney Wolfe Herd and Blackstone, which holds about 14% of the company. Upon completion, Ithaca Holdings Co-CEOs Ravi Gupta and John Hegeman are expected to become Co-CEOs of Bumble, while Wolfe Herd is expected to remain actively involved. The transition to a private company is intended to allow the firm to focus on long-term strategy and AI-driven features away from public market scrutiny.

Entities

Whitney Wolfe Herd · John Hegeman · Ravi Gupta · Ithaca Holdings · Bumble

Timeline

  1. [BUSINESS] 4 sources
    Bumble to go private in $1.3 billion buyout by Ithaca Holdings

    Bumble will go private in a $1.3 billion deal with Ithaca Holdings as the dating app struggles with declining revenue and user fatigue among younger consumers.

  2. [BUSINESS] 29 sources
    Bumble to be acquired by Ithaca Holdings for $1.3 billion

    Dating app Bumble will go private in a $1.3 billion all-cash acquisition by Ithaca Holdings, following recent declines in revenue and paying users.

Sources

bloombergHT.com · bmmagazine.co.uk · cronicadecantabria.com · cryptonomist.ch · cryptopolitan.com · diarioestrategia.cl · digitalnewsreport.com · economedia.ro · elceo.com · exame.com · hedgeco.net · hopkinsmedicine.org · indiantelevision.com · innovations.fr · it-boltwise.de · latestly.com · me.mashable.com · mobilemarketingreads.com · ndmais.com.br · newsable.asianetnews.com · newsbytesapp.com · nn.de · offthepress.com · pulse2.com · siliconhillsnews.com · srnnews.com · stocknews.com · suedtirolnews.it · techstory.in · teknoblog.com · theascent.com · trendingtopics.at · world-today-journal.com