Economy · World
Bumble in $1.3 Billion Go-Private Deal Amid Industry Challenges
Bumble is set to go private in a $1.3 billion deal with Ithaca Holdings, as reported on October 13. The company has struggled to revive growth due to a prolonged decline in users and shifting dating habits among Gen Z, which have impacted the online dating industry. Shares of Bumble soared 56 percent to $5.95 in early trading following the announcement. Earlier reports indicated Bumble was in advanced talks to go private at a $1 billion valuation.
How outlets across the spectrum covered it
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- Centre (6): Channel News Asia, Financial Times, Irish Independent, Reuters, The Age, The Sydney Morning Herald