Bumble to Be Acquired by Ithaca Holdings in $1.3 Billion All-Cash Deal

Dating app operator Bumble Inc. (BMBL) has agreed to a takeover offer from Ithaca Holdings that values the firm at $1.3 billion. Under the terms of the all-cash transaction, stockholders will receive $6.05 for each share they own—representing a premium of roughly 138% compared to the stock's closing price on October 9. Shares soared over 56% to $5.935 following the announcement. The transaction received unanimous approval from the board upon recommendation by a special committee, with founder Whitney Wolfe Herd stepping aside from the vote. Voting approval from shareholders was secured via written authorization from Blackstone affiliates alongside Wolfe Herd.

The buyout comes as Bumble faces persistent operational challenges, including a two-year decline in top-line revenue and a 16.4% drop in paying users, which fell to 3.2 million during the most recent quarter. Recent efforts to reignite user interest—such as introducing artificial intelligence tools for messaging and matchmaking—have so far failed to spark a broad turnaround. The cash offer provides stockholders a firm exit price rather than forcing them to shoulder ongoing execution risks.

Once the transaction closes, Ithaca co-founders Ravi Gupta and John Hegeman are slated to step in as co-chief executives, while Wolfe Herd will maintain a role at the company. Finalizing the acquisition remains contingent upon obtaining antitrust clearances and meeting other standard closing requirements.