Popular dating app Bumble has agreed to a $1.3 billion acquisition deal with Ithaca Holdings, taking the dating app company off the stock market after its valuation fell sharply from its 2021 peak, Bloomberg reported.
Bumble shareholders will receive $6.05 per share in cash. The offer represents a 138 percent premium over the company’s closing share price on October 9, according to the company’s announcement.
Founded in 2014 by Whitney Wolfe Herd, Bumble became known for its women-first approach to online dating. The company went public in 2021 at a valuation of around $14 billion, but has since struggled with falling revenue and a shrinking base of paying users.
Bumble reported 3.2 million paying users in the second quarter of 2026, down 16.4 percent from a year earlier. Revenue fell 15.2 percent year-on-year to $211 million during the same period.
The company has introduced artificial intelligence-powered features and other changes to attract users and improve engagement. However, declining subscriptions have continued to weigh on its business.
Going private will allow Bumble to pursue its turnaround plans outside the scrutiny of public stock markets. Ithaca Holdings will take ownership of the company once the transaction is completed, subject to the applicable closing conditions.
The deal marks a major reversal for a dating app that was once valued at $14 billion shortly after its stock market debut.
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