Although Bumble's IPO date hasn't yet been set, the public listing is expected to value the startup at $6 billion to $8 billion. The timing will depend on several factors, including stock market conditions and the outcome of the SEC review of the startup’s public listing documents. A company might alter its listing approach if it believes market conditions aren’t favorable.
As part of the IPO plan, Blackstone-backed Bumble has already opened talks with banks about guiding its public listing process. Bumble’s IPO plan sees it join the hot 2020 tech IPO party, which already includes startups Palantir, Snowflake, Airbnb, DoorDash, and Wish.
Investors have maintained a strong appetite for tech stocks since the COVID-19 pandemic sent markets crashing. However, some investors predict a short-term pullback or heightened volatility in the stock market as the November presidential election nears.
What is the Bumble dating app?
Bumble, launched in 2014, was founded by Whitney Wolfe Herd, who also co-founded Tinder. Bumble has set itself apart from other dating apps with its focus on putting women in control in finding love. It lets women make the first move in the dating process and applies location data to match potential lovers.
The Bumble dating app is free to use, but users can pay to unlock extra features to boost their chances of finding love. For example, Bumble matches usually expire after 24 hours if the woman in the match doesn’t send the first message, but the man in the match can pay to extend the wait for the woman’s message by an additional 24 hours. The Bumble app recently reached a user count of 100 million worldwide.
Although dating is the primary focus, the Bumble app also offers Bumble Bizz, a professional networking service similar to LinkedIn, as well as BFF, a feature for friendship connections. The Bumble dating app is owned by Austin, Tex.-based startup Bumble Trading, formerly known as MagicLab. Bumble Trading also owns another dating app, Badoo. Together, Bumble and Badoo have about 600 million users globally.
Bumble’s board members include Zynga COO Matthew Bromberg, Cornerstone OnDemand chair Elisa Steele, and author and former CNBC CEO Pamela Thomas-Graham. Former Pixar Studios CFO Ann Mather is the chair of Bumble Trading's board.
When is Bumble going public?
Bumble's IPO date hasn't been set. But the startup is preparing for a public listing of its stock as soon as early 2021, according to Bloomberg. Details about the Bumble IPO date and size will become clearer once the startup files its public listing proposal with the SEC.
What is Bumble's stock price?
Similar to the Bumble IPO date, details about Bumble stock's pricing for the expected public listing are still missing. Bumble’s stock ticker symbol hasn't been set yet, either.
The public listing is expected to value the startup at $6 billion to $8 billion. Last year, The Blackstone Group purchased a majority stake in Bumble in a deal that valued the startup at $3.0 billion. Other Bumble investors include Greycroft, Accel, and Bessemer Venture Partners. The COVID-19 pandemic has boosted online dating. The global online dating service market is on track to grow to $9.2 billion by 2025 from $6.4 billion in 2017.