Bloomberg quoted people familiar with the matter as saying that this female-centric dating app is planning an initial public offering as early as the first quarter of 2021.The report says that the Hornet is working with Goldman Sachs (GS) with Citigroup (C) Planned listing, but also got suggestions Morgan Stanley (Multiple sclerosis).
Bumble was founded in 2014 by Whitney Wolfe Herd, a company that requires women to find heterosexual matches to take the first step. The company has since become a household name and provides services beyond dating, including professional and social networks. The company also owns other apps, such as Badoo, which is a popular digital dating service outside the United States.
investment company Black stone (BX) A year ago, the company bought a majority stake in Bumble (then called MagicLab) for $3 billion. According to Bloomberg, Bumble may seek an IPO valuation between $6 billion and $8 billion.
Representatives of Bumble, Blackstone, Citigroup, Goldman Sachs and Morgan Stanley declined to comment on CNN̵
Bumblebee exists in the highly competitive dating app market, including Tinder, Hinge, Match and OKCupid (all owned by IAC) Competition group (MTCH)).
Although people live more frequently, dating apps have evolved from the coronavirus. Bumble reports that in the first few months of the pandemic, the volume of mail increased by 26%.
Priti Joshi, Bumble’s vice president of strategy, told CNN in May that the average call time for the app was about 28 minutes, “which means they actually met this person on the other end of the call.”
Under the leadership of Wolfe Herd, the company has also been seeking international expansion and has been committed to making more investments in Asia, Central America and Europe.
Bumble was launched in India in 2018, which is a risky move because casual dating is a relatively new phenomenon, and India has one of the highest rates of sexual violence in the world.
In an interview with CNN Business last year, Wolfe Herd said, “The world’s most traditional and most anti-female mentality – for us, these markets are completely open prairies.” “Just because of something. Things are not as advanced as other places in the world, does not mean that there is no such desire.”
The company told the CNN business that as of September last year, Bumble had 66 million users and had already achieved profitability. The basic version of the application is free, but users can purchase other filters.