Ithaca Holdings Taking Bumble Private in $1.3B Deal

Austin-based dating app Bumble said on Tuesday that it will be acquired by Ithaca Holdings for $6.05 per share in cash, or about $797.8 million, based on the number of Bumble common shares outstanding as of June 30.

The offer by the tech investment firm – created earlier this year by Sequoia Capital partner Ravi Gupta and John Hegeman, former Meta chief revenue officer – represents a premium of about 142 percent to Bumble’s closing price of $2.50 on Oct. 9. Gupta and Hegeman will become co-CEOs of the new private entity that the companies said is valued at $1.3 billion.