From Startup Fortune · · 1m 40s
Bumble to go private in $1 billion deal
Bumble's $1 billion private deal with Ithaca Holdings marks steep drop from 2021 IPO value.
In brief
Bumble's $1 billion private deal with Ithaca Holdings marks steep drop from 2021 IPO value. Bumble is selling for $1 billion after a 93% drop from its 2021 IPO valuation. Originally reported by Startup Fortune.
Bumble nears private sale
Bumble, a dating app that debuted at $14 billion valuation in 2021, is close to being taken private for roughly $1 billion.
Ithaca Holdings leads deal
Ithaca Holdings, a holding company led by Sequoia Capital partner Ravi Gupta and former Meta chief revenue officer John Hegeman, is the buyer.
Bumble's stock surge
Bumble shares jumped 50% on Monday, October 12, hitting $3.81 after Wall Street Journal reported advanced private sale talks.
IPO to $1 billion drop
Bumble went public on Nasdaq on February 11, 2021, priced at $43 a share, and closed near $14 billion valuation.
Bumble's valuation decline
A $1 billion deal would value Bumble at roughly 7% of its 2021 IPO price, a steep drop from its peak.
Whitney Wolfe Herd's role
Whitney Wolfe Herd founded Bumble in 2014 and stepped down as CEO in 2024 before returning in March 2025 to lead the turnaround.
User decline and revenue drop
Bumble's paying users fell 11% to 3.7 million in 2025, and annual revenue dropped 10% to $966 million.
Bumble's strategic shift
Bumble is ending the swipe feature to reset the dating app category facing fatigue and weaker paid conversion.
Ithaca Holdings' strategy
Ithaca Holdings, backed by Sequoia Capital, aims to rebuild underperforming companies with AI and new technology.
At a glance
Bumble is selling for $1 billion after a 93% drop from its 2021 IPO valuation.
