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Ithaca Holdings to buy Bumble for $1.3 billion

The deal would lift Bumble to a company valuation of over $580 million as the stock jumped when news of the purchase emerged.

Reported · Written up by our desk · M&A & Deals

Dating app Bumble is being acquired for $1.3 billion by investment firm Ithaca Holdings, according to BBC Business. The company said the takeover is a bet on the future of humanity.

Ithaca Holdings will take over the loss-making firm, and its directors Ravi Gupta and John Hegeman will become co-chief executives of Bumble.

BBC Business reports that Bumble founder and current CEO Whitney Wolfe Herd said she will remain actively involved with the business she set up 12 years ago, and will work closely with the new owners.

The outlet also noted that Bumble’s share price rose as the deal emerged, lifting its valuation to more than $580 million, and said the firms plan to use technology to renew and accelerate businesses in a world transformed by AI.

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