Oct 13 : Bumble said on Tuesday it had agreed to be taken private by Ithaca Holdings in a deal valued at $1.3 billion, as the dating app pushes forward with its months-long turnaround amid shifting Gen Z dating habits and declining paying users.
Bumble and larger rival Match Group, which owns Tinder and Hinge, have been grappling with weaker user engagement, particularly from younger users tired of endless swiping.
Founded in 2014 by CEO Whitney Wolfe Herd, Bumble pioneered the "women-first" approach to online dating.
Under Herd, who returned as CEO in March 2025 after stepping down in 2023, the company has doubled down on revamping its core product with AI-powered features, group dating and a redesigned member experience in a bid to revive growth.
The efforts follow steep declines in total paying users and revenue. Total paying users fell 16.4 per cent to 3.2 million in the second quarter, while quarterly revenue has been declining for nearly two years.
Bumble's market capitalization has shrunk to about $582 million as of Monday's close, a far cry from the $14 billion valuation when it went public in 2021.
The company entered into advanced talks to be taken private by Ithaca Holdings in a deal valuing it at roughly $1 billion, Reuters and other media outlets reported on Monday.