Dating-app provider Bumble Inc. is in talks to be sold to upstart investment firm Ithaca Holdings for around $1 billion, according to people familiar with the matter. A deal could be announced as soon as this week, said the person, who asked to not be identified because the details aren’t public. No final decision has been made and the talks could fall through or timing could change, the person added.
Representatives for Ithaca and Bumble didn’t immediately respond to requests for comment. Started by former Tinder co-founder Whitney Wolfe Herd, Bumble has seen its valuation fall in recent years as dating apps fell out of fashion. The company, which was worth about $14 billion when it went public in 2021, had a market value of about $582 million as of Monday.
Blackstone Inc., one of Bumble’s early backers, still owns a stake in the company, according to data compiled by Bloomberg. Ithaca is an investment firm started by a Sequoia Capital partner and a former Meta Platforms Inc. executive that’s looking to raise at least $1 billion, Bloomberg News reported in March. The Wall Street Journal first reported Ithaca’s talks for Bumble.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing