The co-founder and then CEO of the company Andrey Andreev stepped down that year, making way for Wolfe Herd. The IPO comes after a rocky 2019 for the company, which was accused of a misogynistic workplace in a Forbes investigation.“We believe that there is a significant opportunity to build on our foundation as a technology platform centered on women to become a preeminent global women’s brand,” the prospectus reads. Led by a female CEO, Whitney Wolfe Herd, Bumble is really (really) marketing itself to investors as a company that has women as its core demographic in its prospectus, even though the company’s other dating app, Badoo, has no restrictions on who initiates the first move.Some 2.4 million of those users were paying in the nine months ending 2020. Bumble said it had 42 million monthly active users in the third quarter of 2020.The dating app owned by Match Group is expected to once again post revenue of over $1 billion for the entirety of 2020. The company has a long way to go before it can match its larger competitor Tinder.While revenue grew nearly 15%, Bumble’s losses also outpaced its earnings, losing $116.7 million in those nine months of 2020 compared to a profit of $68.6 million the same period a year earlier.

The dating app that lets women make the first move posted revenue of about $416.6 million for the first nine months of 2020, surpassing the company performance the same period a year earlier at $362.6 million.Last valued at about $3 billion when Blackstone acquired the business in 2019, it is now valued at about $8.2 billion.Īs we all wait for the inevitable fury around the IPO pop or radio silence should shares fall in its first day of trading, here’s the skinny on Bumble’s financial picture: The company behind Badoo and the Bumble app raised $2.2 billion in an offering of 50 million shares priced at $43, more shares sold at a higher price than previously anticipated. IPO investors seem to think they’ve found a true match with dating app company Bumble.

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