Ithaca Holdings Takes Bumble Private in $1.3 Billion Buyout
The dating app company is being taken private by Ithaca Holdings for $1.3 billion. The article notes paying users are down by a quarter.
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04:50:44 PM UTC
SquawkNews
What Happened? Shares of online dating app Bumble NASDAQ:BMBLjumped 56.4% in the afternoon session after momentum carried through from the previous session as the company announced a definitive agreement to be acquired by Ithaca Holdings in an all-cash buyout valuing the company at $1.3 billion.Und…
3 bln. Even with slow topline growth, the low price could produce nearly 20% annual returns. But paying users are down by a quarter, making customer acquisition more challenging than a good opening line.