Bumble Inc. (BMBL) To Be Acquired by Ithaca for $1.3B Cash, $6.05/Share

Bumble Inc. (BMBL) agreed to a $1.3B all-cash acquisition by Ithaca Holdings at $6.05 per share, a 138% premium. The deal, approved by the board and shareholders, will take Bumble private. Ithaca plans to retain Bumble's leadership and operations. The transaction's completion and timing are now key focuses for investors.

Bumble is going private after Ithaca Holdings agreed to acquire it for $1.3 billion, valuing the company at $6.05 per share. Ravi Gupta and John Hegeman, co-CEOs of Ithaca, will lead Bumble. Founder Whitney Wolfe Herd will remain a partner. Bumble's stock has fallen over 90% since its 2021 IPO.

Bumble Inc. (BMBL) stock surged 57% after agreeing to be acquired by Ithaca Holdings for $1.3B, or $6.05 per share, a 138% premium. The deal takes BMBL private, with the transaction pending shareholder and regulatory approval. BMBL's Q2 revenue fell 15.2% YoY to $210.5M, with paying users down 16.4%.

Bumble agreed to a $1.3B go-private deal with Ithaca Holdings at $6.05 per share, a 122.4% premium to its June 24 closing price. The company faces declining users and revenue, with shares up 57% in premarket trading. Ithaca co-founders will become co-CEOs post-takeover.

Bumble agreed to a USD1.3 billion deal to go private with Ithaca Holdings, paying USD6.05 per share, a 138% premium over its October 9 price. Ithaca, led by Sequoia's Ravi Gupta and ex-Meta executive John Hegeman, will acquire Bumble, which has seen declining users and valuation since its 2021 IPO. Bumble's board and founder Whitney Wolfe Herd approved the transaction.

Bumble (BMBL) agreed to a two-step merger with Ithaca Holdco, valuing Class A shares at $6.05 each. The deal includes support from Greenoaks Prime Radiant and founder Whitney Wolfe Herd. The transaction is subject to approvals and has termination fees of $29 million for the company and $102 million for the parent.