Bumble

The dating app Bumble is being acquired by investment firm Ithaca Holdings for $1.3 billion and is to be taken private. The price is well below the IPO valuation of about $14 billion and reflects ongoing problems in the dating‑app market with declining user numbers. John Hegeman and Ravi Gupta are to serve as co‑CEOs, and founder Whitney Wolfe Herd will remain actively involved, the company said. After the takeover announcement the share price rose and the valuation climbed to more than €580 million; Bumble most recently had about 3.2 million paying users. » More on manager-magazin.de

The dating app Bumble is being acquired by investment firm Ithaca for $1.3 billion and will be taken private. The purchase price equals about €1.16 billion and is far below the company’s earlier market value, though it represents a sizable premium to recent trading levels. Bumble has been struggling with waning user interest, especially among younger users, and in August had removed the women‑initiated messaging rule. Ithaca plans to lead Whitney Wolfe Herd’s team with John Hegeman and Ravi Gupta as co‑CEOs and to invest in companies that use AI to improve people’s lives. » More on t-online.de

The dating app Bumble is being acquired by Ithaca Holdings for $1.3 billion and will be taken off the stock market. The purchase price is far below the earlier IPO valuation of about $14 billion, but above the recent market value of roughly $340 million. Ithaca names John Hegeman and Ravi Gupta as future co‑chiefs; Bumble has recently struggled with revenue declines and waning interest, especially among younger users, after the rule that women must initiate was dropped. » More on finanzen.net