Bumble's Stock Surges on $1.3B Deal to Go Private With Ithaca
WHO:
Bloomberg - Bumble Inc. is being taken private by Ithaca Holdings.
Reuters - Ithaca co-founders Ravi Gupta and John Hegeman will become Bumble's co-CEOs.
Fast Company - Whitney Wolfe Herd is the founder and CEO of Bumble.
WHAT:
Fast Company - Bumble's shareholders will receive $6.05 for each share of Class A Common Stock, which is approximately 119% over its 30-day weighted average price ending Friday.
Bloomberg - Bumble's shares were halted on news of the acquisition deal.
Bloomberg - Bumble was valued at $14 billion when it went public, significantly higher than its current valuation of about $335 million at the end of business on a recent Friday.
Bloomberg - Bumble's shares jumped 56% to $5.94 after the announcement of the acquisition deal, following a 50% increase on the previous Monday.
Fast Company - Bumble's stock was down almost 95% from its opening high as of October 5, and the company was valued at about $335 million at the end of business on that Friday.
Bloomberg - Bumble was valued at $14 billion when it went public.
Bloomberg - Ithaca Holdings will pay $6.05 per share for Bumble, a 138% premium to Bumble's closing price.
Reuters - The deal is valued at $1.3 billion.
Fast Company - Bumble's board unanimously voted in favor of the deal, with Whitney Wolfe Herd recusing herself from the decision.
Fast Company - Bumble's shareholders will receive $6.05 for each share of Class A Common Stock.
Fast Company - Bumble was valued at about $335 million at the end of business on a recent Friday.
Fast Company - Bumble's shares were down almost 95% from their opening high as of October 5.
WHERE:
Fast Company - Bumble is a dating app company.
WHEN:
Fast Company - The deal was announced on a Tuesday.
Fast Company - Bumble went public in February 2021.
Fast Company - Wolfe Herd stepped down as CEO in January 2024.
Fast Company - Wolfe Herd returned as CEO in March 2025.
Fast Company - Bumble launched a new standalone BFF app in November 2025.
Fast Company - Bumble launched an AI assistant called Bee in May.
WHY:
Fast Company - Bumble has faced a decline in relevance as dating apps have struggled, particularly among Gen Z users.
Fast Company - Bumble has faced declining subscriber numbers and falling revenue.
Fast Company - Wolfe Herd stated that in Ithaca, they have found a partner who shares their vision and is committed to investing in Bumble’s future.
HOW:
Fast Company - Wolfe Herd stated, “This evolution isn’t a departure from our founding vision, but the realization of it.”
Fast Company - Bumble has implemented a new messaging feature allowing anyone to message first, with users having 72 hours to respond.
Fast Company - Ithaca’s mission is to apply frontier technology to renew and accelerate businesses.
Fast Company - Bumble has implemented changes such as allowing men to make the first move and introduced the Opening Move feature.
(UPDATED October 13, 2026 22:00 UTC)
Bumble's shareholders will receive $6.05 for each share of Class A Common Stock, which represents a significant premium of approximately 119% over its 30-day weighted average price. The company's shares were halted following the announcement of the acquisition deal, and Bumble's valuation has dramatically dropped from $14 billion at its public debut to about $335 million recently. Wolfe Herd emphasized that this evolution is not a departure from their founding vision, but rather the realization of it.
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(UPDATED October 13, 2026 17:05 UTC)
Bumble's shares soared by 56% to $5.94 after announcing an acquisition deal, following a 50% increase just the previous Monday. Despite this surge, Bumble's stock had plummeted nearly 95% from its opening high earlier this month, leaving the company valued at about $335 million. To regain traction, Bumble has introduced a new messaging feature that allows anyone to message first, giving users 72 hours to respond.
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(UPDATED October 13, 2026 15:05 UTC)
Ithaca Holdings is taking Bumble Inc. private in a deal valued at $1.3 billion, with Ithaca co-founders Ravi Gupta and John Hegeman set to become Bumble's co-CEOs. The agreement includes a payment of $6.05 per share, representing a 138% premium over Bumble's recent closing price, and was unanimously approved by Bumble's board, although founder Whitney Wolfe Herd recused herself from the decision. This move comes as Bumble has been grappling with declining subscriber numbers and revenue, but Wolfe Herd expressed confidence in Ithaca as a partner committed to investing in the company's future.