Dating-app company Bumble is in advanced talks to go private at a $1 billion valuation, according to sources familiar with the matter.
The proposed deal would see the company taken private by an investor group, ending its status as a publicly traded business. Bumble's shares have faced pressure amid a broader slowdown in the social and dating-app sector.
Founder Whitney Wolfe Herd is expected to remain involved with the company as part of the transaction, sources say. Her continued role would provide continuity for the platform that has grown into one of the most recognized names in online dating.
The talks are still in the early stages, and no final agreement has been reached. Both Bumble and the potential buyers would need to negotiate terms before a deal could be announced publicly.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing