The purchase is Ithaca's first acquisition and aims to transform the dating app using artificial intelligence to foster human connection. The $1.3 billion valuation represents a sharp decline from the $14 billion peak market capitalization the company reached in 2021. In a contrast to the buy-out price, Bumble spent roughly $370 million repurchasing its own shares throughout 2023 and 2024 at an average price of $9.75 per share.
Wednesday, October 21, 2026
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Ithaca Acquires Bumble for $1.3B in Cash
Business8 days ago
A payout of $6.05 per share in cash will be provided to investors, marking a 138% premium over the company's closing price last Friday. Ithaca Holdings, a newly formed firm founded by Ravi Gupta and former Meta executive John Hegeman, will pay a total of $1.3 billion to take Bumble private. The acquisition will be executed using supervoting shares held by Blackstone and founder Whitney Wolfe Herd, meaning no general shareholder vote is required. Gupta and Hegeman are to assume roles as co-CEOs after the deal closes.
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