Ithaca Holdings has agreed to purchase Bumble Inc. for $1.3 billion, taking the publicly traded dating app private. The all-cash transaction, announced on October 13, 2026, values Bumble at $6.05 per share. This represents a substantial premium of approximately 138% over the unaffected closing share price on October 9, 2026.
The acquisition marks a significant shift for Bumble, which went public in February 2021 with a valuation exceeding $7 billion. Since its initial public offering, the company's stock price has experienced a steep decline, falling by more than 96% from its peak. This downturn led to Bumble's market value falling below $450 million prior to the acquisition announcement.
Under the terms of the agreement, Ithaca Holdings' co-chief executive officers, Ravi Gupta and John Hegeman, will assume the roles of co-CEOs at Bumble. Whitney Wolfe Herd, Bumble's founder and current CEO, will remain a close partner to the company, continuing to support its vision. Bumble will continue to operate as a privately held entity, maintaining its headquarters in Austin, Texas, with additional offices in London and New York City.
Ithaca Holdings, described as a long-term holding company for enduring technology businesses, aims to leverage "frontier technology" to innovate and accelerate companies that enrich lives. The firm's stated mission aligns with Bumble's founding principle of fostering connections and creating meaningful relationships.
Bumble was founded in 2014 by Whitney Wolfe Herd, who previously co-founded dating app Tinder. The app differentiated itself by empowering women to make the first move in initiating conversations. Bumble's portfolio also includes Badoo, Fruitz, Official, and Geneva, catering to various forms of connection, including dating, friendships, and professional networking.
The acquisition by Ithaca Holdings follows a period of restructuring for Bumble. In February 2024, the company announced layoffs affecting 350 employees, or 30% of its workforce. More recently, in June 2024, Bumble acquired Geneva, a group chat app focused on friendships, for approximately $17 million.
Blackstone Inc., a private equity firm, had previously held a majority stake in Bumble's parent company, MagicLab, since 2019. Blackstone acquired its stake at a valuation of approximately $3 billion. In 2020, MagicLab was renamed Bumble Inc., and it later went public in 2021. Blackstone has been moving towards a full exit from Bumble as an investor, having been involved for nearly seven years.
The transaction requires shareholder approval, including from Whitney Wolfe Herd and Blackstone, which held approximately 14% of the company's shares. The deal is expected to close following customary closing conditions.