Bumble Prices IPO At US$2.15 Bn, Stock Debut Ahead Of Valentine’s Day

2 min read | February 11, 2021 04:54 AM EST | By Team Kalkine Media

Bumble Prices IPO At US$2.15 Bn, Stock Debut Ahead Of Valentine’s Day

Bumble IPO Key Highlights

Bumble shares will trade under the ticker of ‘BMBL’.

The Texas-based company had earlier planned and IPO offer of about 45 million shares for the price range of US$ 37 to US$ 39 apiece, which itself was an increase from the original target of 34.5 million shares at US$ 28 to US$ 30.

The company, which was started in 2014, said in its latest release that underwriters will have a 30-day period to buy up to another 7.5 million of its shares.

Bumble’s IPO is being headed by investment services Goldman Sachs Group Inc (NYSE:GS, GS:US), Citigroup Inc (NYSE:C, C:US), Morgan Stanley (NYSE:MS, MS:US) and JPMorgan Chase & Co (NYSE:JPM, JPM,US).

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Alternative investment firm The Blackstone Group (NYSE:BX, BX:US) sliced out a majority stake in Bumble's parent company, MagicLab, back in 2019.

As per its US Securities and Exchange Commission (SEC) filings, Bumble recorded a pro forma net loss of US$ 28 million and a revenue of US$ 413 million for the nine months ending 30 September 2020.

The Bumble app was created by the same entrepreneur who co-founded rival dating app Tinder previously, Whitney Wolfe Herd, who now is Bumble’s chief executive officer.

The women-oriented dating platform also has its own lifestyle magazine called Bumble Mag, which came into being in April 2019.

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