Dating app Bumble preparing for $6 billion-plus IPO | Tech News

Dating app Bumble preparing for $6 billion-plus IPO

Bumble, a dating app that lets women make the first move, is preparing for an initial public offering that could come early next year, according to people familiar with the matter.

| Updated on: Aug 20 2022, 22:53 IST
Bumble gears up for IPO
Bumble gears up for IPO (Bumble)

Bumble could seek a valuation of $6 billion to $8 billion, said one of the people, asking not to be named because the matter is private. While it is talking to banks, it hasn't settled on a lineup, the people added. No plans have been finalised and the timing of Bumble's IPO could still change.

It would be the latest technology company to consider jumping into the hot IPO market, which could see listings this year from well-known brands including Airbnb Inc and Doordash Inc.

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Private equity firm Blackstone Group Inc. bought a majority stake in Bumble last year -- when it was known as MagicLab -- in a deal that valued the company at $3 billion. Founded in 2006 by Andrey Andreev, MagicLab had been mulling an IPO before that deal.

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Representatives for Bumble and Blackstone declined to comment.

ALSO READ: Looking for love or something like that? Here are 5 dating apps you can swipe on in India

The Bumble app was started in 2014 by founder Whitney Wolfe Herd, who previously co-founded Tinder, where she had been an executive. She became chief executive officer of the family of apps as part of the deal with Blackstone.

ALSO READ: Chingari bags investment from Tinder CPO and OLX founder

Other investors include venture capital firms Accel, Bessemer Venture Partners and Greycroft.

By Katie Roof and Kiel Porter

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First Published Date: 02 Sep, 08:51 IST