(Bloomberg) — Bumble, a dating app that lets women make the first move, is preparing for an initial public offering that could come early next year, according to people familiar with the matter.
Bumble could seek a valuation of $6 billion to $8 billion, said one the people, asking not to be named because the matter is private. While it is talking to banks, it hasn’t settled on a lineup, the people added. No plans have been finalized and the timing of Bumble’s IPO could still change.
It would be the latest technology company to consider jumping into the hot IPO market, which could see listings this year from well-known brands including Airbnb Inc and Doordash Inc.
Private equity firm Blackstone Group Inc. bought a majority stake in Bumble last year — when it was known as MagicLab — in a deal that valued the company at $3 billion. Founded in 2006 by Andrey Andreev, MagicLab had been mulling an IPO before that deal.
A representative for Bumble didn’t respond to a request for comment. A Blackstone representative declined to comment.
In 2014, Andreev founded the company with Whitney Wolfe Herd, a former Tinder executive, according to its website. She became CEO of the family of apps as part of the deal with Blackstone.
Other investors include venture capital firms Accel, Bessemer Venture Partners and Greycroft.
For more articles like this, please visit us at bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2020 Bloomberg L.P.