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Dating app Bumble preparing for $6 billion-plus IPO, says report

No plans have been finalized and the timing of Bumble's IPO could still change

Topics
Bumble | initial public offerings IPOs

Katie Roof & Kiel Porter | Bloomberg 

IPO
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

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.

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 finalized 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.

Private equity firm Blackstone Group Inc. bought a majority stake in last year -- when it was known as MagicLab -- in a deal that valued the company at $3 billion.

ALSO READ: Pakistan bans Tinder, Grindr and 3 other apps over 'immoral' content

Founded in 2006 by Andrey Andreev, MagicLab had been mulling an IPO before that deal.

Representatives for and Blackstone declined to comment.

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.

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

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First Published: Thu, September 03 2020. 01:59 IST
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