Matchmaker, matchmaker, make me an IPO: Bumble is reportedly planning to go public
The popular dating app Bumble wants to hook up with an initial public offering.
An IPO for the company that runs the app, best known for empowering women to be the ones to send the first message to potential dates, would be in the $6 billion to $8 billion range, Bloomberg reports this morning. Bumble is talking to banks now.
It’s long been a darling of the dating-app world. In November, the private equity group Blackstone snagged a $3 billion majority stake in MagicLab, then the name of Bumble’s parent company, which also owns Badoo.
Blackstone declined to comment. Bumble couldn’t be reached for comment,
MagicLab was founded in in 2006 by Andrey Andreev. He left the company as CEO last fall and was replaced by Whitney Wolfe Herd, who before founding Bumble in 2014 had co-founded Tinder.
Wolfe Herd has a 19% stake in her current company, according to TechCrunch.
This summer, Bumble hit the 100-million-users mark and announced a new president, Google Cloud alumnus Tariq Shaukat, and a new board of directors, including ex-Pixar Studios CFO Ann Mather, former CNBC CEO Pamela Thomas-Graham, and Zynga COO. The parent company was renamed Bumble.
Bumble is the second-most popular dating app in the United States, according to Statista’s most recent data. No. 1 is Tinder.