Business · Companies · 2 hrs ago
Bumble bought for $1.3 billion as dating apps struggle to grow
Bumble has been bought for $1.3 billion by a private equity group, after its revenue and user numbers fell.
The deal comes as dating apps such as Bumble, Tinder and Hinge face questions about whether they can make money while helping people find lasting relationships.
Bumble’s value has fallen sharply since it was valued at $14 billion after going public in 2021.
Its founder, Whitney Wolfe Herd, returned as chief executive in January, laid off 30 per cent of staff in June and later removed the rule that women had to send the first message.
Those changes have not stopped the decline: UBS estimated Bumble’s revenue fell from about $1 billion in 2023 to $833 million this year, with no recovery forecast by 2030.
Ravi Gupta and John Hegeman will become co-chief executives when the buyout goes through, while Wolfe Herd will step down from the top job but continue working with the company.
The new leaders face the task of reviving Bumble and addressing wider concerns that dating apps keep users engaged without helping enough of them find partners.
A private equity group bought dating app company Bumble for $US1.3 billion, about a tenth of its 2021 valuation.
The deal follows sharp declines in Bumble’s revenue and users.
Ithaca Holdings executives Ravi Gupta and John Hegeman are set to become Bumble’s co-chief executives.
Founder Whitney Wolfe Herd will step down as chief executive when the buyout goes through.
The deal comes as dating apps face difficulties growing while trying to help users find relationships.
- Who
- Private equity group Ithaca Holdings bought Bumble. Ravi Gupta and John Hegeman will become its co-chief executives.
- What
- Bumble was bought for $US1.3 billion.
- When
- The article, published October 16, 2026, says the buyout happened “this week.
- Where
- Not stated
- Why
- The article links the deal to sharp declines in Bumble’s revenue and users. The buyers’ reasons are not stated.
This story does not have two clearly opposing sides.
Bumble went public and reached a valuation of $US14 billion.
Founder Whitney Wolfe Herd returned to lead Bumble.
Bumble laid off 30 per cent of its staff.
Bumble removed its feature requiring women to send the first message.
Ithaca Holdings bought Bumble for $US1.3 billion.
- Buyout price
- $US1.3 billion
- 2021 valuation
- $US14 billion
- Bumble revenue
- About $US1 billion in 2023; estimated at $US833 million in 2026
- Staff cuts
- 30 per cent in June
- Incoming co-chief executives
- Ravi Gupta and John Hegeman
What people are saying
They have an economic incentive to stop you partnering in long-term committed relationships
I love Oprah and … I had been doing her exercise of ‘don’t tell the universe what you want; tell the universe to use you [for] what it needs from you’