Online Dating Company Bumble Files To Go Public
After confidentially filing for a public offering this December, the online dating company Bumble Inc has publicly released its S-1 filing, shifting its public market debut nearer. Bumble Inc consists of the popular women-focused dating app Bumble and Badoo, another popular dating app.
Bumble’s S-1 filing gives an outlook into its finances. The company reported $376.6 million in revenue in the nine-month period from January 29 to September 30, 2020 and posted a net loss of $84 million in that same period.
In 2019, Bumble posted $489 million in revenue and a net loss of $85.8 million. In the past three years, Bumble wasn’t profitable.
Bumble consists of the popular eponymous dating app which was founded by Whitney Wolfe Herd, an entrepreneur who also co-founded the popular dating app Tinder, along with Badoo, a popular dating app founded by the Russian entrepreneur Andrey Andreev.
Andreev was an early backer of Bumble and merged it with his own dating app Badoo before cashing out in a $3 billion exit to the private equity firm Blackstone, leaving the company and handing over his leadership role to Whitney Wolfe Herd.
Now with Herd at the top, she’s set to take Bumble public and see herself as the CEO of a major publicly-traded dating app empire, quite a dig at some of her former colleagues at Tinder whom she sparred with after leaving the company.
Bumble is said to be targeting a valuation of over $8 billion in its public listing. With the very positive embracement of tech IPOs by investors as of late, it wouldn’t be surprising if the company soars even further than that valuation on the public markets.
More on IPOs;
- Poshmark Pops On IPO Debut
- Shopify Sees $2B Windfall From Affirm’s IPO
- Affirm Pops On IPO Day
- Real Estate Startup Compass Files For An IPO
- Instacart Hires New CFO, Hints At IPO