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Bumble agrees to $1.3 billion takeover by Ithaca Holdings
Ithaca offered $6.05 a share, and its co-founders will become Bumble's co-CEOs after the takeover.
Bumble said on October 13 that it had accepted a $1.3 billion take-private deal with Ithaca Holdings. The agreement comes as the dating app works to overhaul its products following declines in paying users and revenue.
The $6.05-per-share offer carries a premium of 122.4% over Bumble's June 24 closing price, which preceded the first media report that it was considering a sale. Bumble shares rose 57% in premarket trading to $5.96.
After the transaction, Ravi Gupta and John Hegeman, the co-founders of Ithaca, will take over as co-CEOs. Whitney Wolfe Herd, who founded Bumble in 2014, returned to lead the company in March 2025 after leaving the CEO role in 2023.
During Herd's return, Bumble has focused on artificial intelligence features, group dating and changes to the member experience to try to restore growth. Its second-quarter paying user count dropped 16.4% to 3.2 million, while quarterly revenue has declined for nearly two years.
Bumble and Match Group, the owner of Tinder and Hinge, have faced weak engagement, especially among younger users dissatisfied with swipe-based dating. Bumble also owns Bumble For Friends and is developing more group-based opportunities to meet, as the industry seeks to appeal to Gen Z users looking for more social ways to connect.