Business · Companies · 1 hr ago
Bumble reportedly in advanced talks for a $1bn takeover
Bumble, a dating app company based in Texas, is reportedly in advanced talks to be bought by technology holding company Ithaca for around $1bn.
A deal could be announced as early as this week, according to the report.
Bumble shares rose almost 50% on Monday after the news, giving the company a market value of more than $580m.
That is still far below its value of more than $14bn after it listed on the Nasdaq in 2021.
Bumble launched in 2014 with a feature that let only women start conversations with matches, but it recently dropped that rule.
The company operates in a crowded dating-app market where growth has slowed and some younger users have become disillusioned with dating apps.
Bumble and Ithaca have been contacted for comment, and the reported deal has not been confirmed.
Bumble is reportedly in advanced talks to be bought by technology holding company Ithaca for around $1bn.
A deal could be announced as early as this week, according to the Wall Street Journal report cited by the BBC.
Bumble shares rose almost 50% on Monday after the report.
The rise put Bumble’s stock market valuation above $580m, still far below its peak of more than $14bn after its 2021 Nasdaq listing.
The BBC said it had contacted Bumble and Ithaca for comment.
- Who
- Bumble and technology holding company Ithaca.
- What
- They are reportedly in advanced talks for Ithaca to buy Bumble for around $1bn.
- When
- The report emerged on Monday; a deal could be announced as early as this week.
- Where
- Bumble is based in Texas.
- Why
- Not stated
This story does not have two clearly opposing sides.
Whitney Wolfe Herd launched Bumble.
Bumble listed on Nasdaq and later reached a market value of more than $14bn.
A report said Bumble was in advanced takeover talks, and its shares rose almost 50%.
Ithaca could announce a deal to buy Bumble, according to the Wall Street Journal report cited by the BBC.
- Reported takeover value
- Around $1bn
- Potential buyer
- Ithaca
- Share rise
- Almost 50% on Monday
- Stock market valuation after rise
- More than $580m
- Bumble's launch
- 2014
Sources
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