The IPOX® Watch - Bumble

Jun 22

Company Description

Launched in 2014, Bumble Inc is an online dating and social networking platform operator founded by the co-founder of Tinder, headquartered in Austin, TX. The company, backed by Blackstone Group, operates three online dating mobile apps, Bumble, Badoo, and Fruitz.

Business Model

Bumble Inc generates revenue primarily from purchases or renewals of recurring subscriptions and in-app purchases. The company also generates revenue from online advertising and partnerships.

IPO History

On 02/11/2021, Bumble Inc began trading on the Nasdaq Global Select Market led by Goldman Sachs and Citigroup. The online dating platform operator offered 50 million shares, upsized from the originally planned 45 million shares at $43.00 per share, above its elevated expected price range ($37 - $39). Bumble was valued at ca. $5.0 billion at offer with the 15% over-allotment option fully exercised. The shares opened at $76.00 and closed the first day at $70.31 (▲63.51%).

Bumble Inc was included in the IPOX® US Index (ETF: FPX US, FPX LN) on 03/21/2022, and currently weighs ca. 1.63% of the portfolio.