Dating app Bumble announced on Tuesday that it has agreed to a $1.3 billion acquisition deal with Ithaca Holdings. This move will take the company private, following a period of declining subscriber numbers and revenue.
Bumble, founded in 2014, went public in 2021 with a valuation of approximately $14 billion. However, the company has since faced a changing dating app landscape, experiencing a fall in paying users and weaker revenue. Its second-quarter 2026 revenue was reported at $211 million, a 15.2% decrease year-over-year, while its paying user base dropped by 16.4% to around 3.2 million.
The acquisition follows a review of strategic options by an independent committee of Bumble’s board. Whitney Wolfe Herd, Bumble's founder, stated that she plans to remain actively involved in the business. Going private may allow Bumble more flexibility to experiment with new features, such as AI-driven functionalities and initiatives like 'Plans', which focuses on real-world activities.