Bumble reportedly in talks to go private at a valuation of about $1bn
Ithaca Holdings is in advanced talks to buy Bumble and take the dating app private, in a deal that would value it at about $1 billion. Reuters reported the talks, citing one source familiar with the matter.
We have not independently confirmed the report, and neither company replied when Reuters asked for comment.
Investors moved fast, and on Monday, Bumble’s shares jumped about 50% to close at $3.80, marking their biggest single-day gain since the company went public. Before this, Bumble’s market value was about $389 million as of Friday’s close.
Ithaca, an investor in tech companies, was started by Silicon Valley executives Ravi Gupta and John Hegeman.
Earlier this year, Reuters said Bumble was considering a sale because growth in online dating had slowed. Both Bumble and Match Group, which owns Tinder and Hinge, have faced challenges as younger users lose interest in swiping.
Bumble’s data highlights the pressure....
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