Dating app Bumble debuts on the NASDAQ with its $2.2 billion IPO

Zoe Stabler DipFA
Posted:
News

The company is known for its unique dating app that empowers women to make the first move.

Bumble, known for its popular dating app, has launched its initial public offering (IPO) and floated on the NASDAQ stock exchange. It let investors swipe right on 45 million shares at a price of $43 per share (about £31) and raised a total of $1.94 billion USD (about £1.4 billion)

Bumble Inc, which is now trading under the ticker “BMPL” is the parent company of Badoo and Bumble, two of the largest dating apps with millions of users worldwide. It employs more than 600 people in its offices in Austin, Barcelona, London and Moscow.

The IPO has conveniently landed just days before Valentine’s day, where, according to our survey, 3 in 10 people (30%) who do not live with their partners plan to break lockdown rules and meet their partners inside.

Love isn’t the only thing in the air with Bumble, though. It offers Bumble BFF, for making completely platonic friendships and Bumble Bizz, which can be used for professional networking. In all cases, the women talk first “to set an equal tone from the start”.

Bumble’s main competitor is Match Group, which owns Tinder and is worth more than $40 billion USD (about £28 billion).

This article offers general information about investing and the stock market, but should not be construed as personal investment advice. It has been provided without consideration of your personal circumstances or objectives. It should not be interpreted as an inducement, invitation or recommendation relating to any of the products listed or referred to. The value of investments can fall as well as rise, and you may get back less than you invested, so your capital is at risk. Past performance is no guarantee of future results. If you're not sure which investments are right for you, please get financial advice. The author holds no positions in any share mentioned.

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