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Bumble agrees to $1.3 billion take-private deal with Ithaca Holdings
The dating app is pursuing a turnaround as paying users decline and younger customers show weaker engagement.
Bumble said on October 13 that Ithaca Holdings had agreed to take the company private in a transaction worth $1.3 billion. The agreement comes as the dating app works to reverse declining revenue and a shrinking base of paying users.
In the second quarter, Bumble's paying user count dropped 16.4% to 3.2 million. Its quarterly revenue has fallen for almost two years. At the October 12 close, the company's market capitalization was about $582 million, compared with its $14 billion valuation at its 2021 public listing.
CEO Whitney Wolfe Herd has focused the turnaround on changes to Bumble's main product, including features powered by artificial intelligence, group dating and an overhaul of the member experience. She resumed the chief executive role in March 2025, having stepped down in 2023.
Bumble and its larger competitor, Match Group, face reduced engagement, especially among younger users who have grown tired of repeated swiping. Match Group owns Tinder and Hinge.
Herd founded Bumble in 2014, introducing an approach to online dating that put women first.