initial public offerings (IPOs) trading on American exchanges

Thursday, February 11, 2021

Bumble (BMBL) began trading on the Nasdaq on Thur 11 Feb 21

Bumble Inc. operates online dating and social networking platforms. 
  • Sector(s): Technology
  • Industry: Software—Application
  • Full Time Employees: 650

Bumble (BMBL 75.21, +32.00, +74.6%) opened for trading at $76/share after pricing its IPO at $43/share. 

The display outside the Nasdaq MarketSite is pictured as the dating app operator Bumble Inc. (BMBL) made its debut on the Nasdaq stock exchange in New York City, New York, U.S., February 11, 2021. (REUTERS)

The Bumble app — on which women make the first move, was started by Whitney Wolfe Herd, co-founder of the IAC-owned Tinder. At age 31, Wolfe Herd is the youngest female CEO to take a large US company public.

The company operates two apps, Bumble and Badoo, with more than 40 million users a month, according to the company’s S-1 filing.

The Bumble IPO has been one of the most anticipated high brand recognition debuts since Airbnb (ABNB) and Doordash (DASH). Both the vacation rental marketplace and food delivery platform went public in December, soaring on their first day of trading. 

The youngest billionaire (Whitney Wolfe Herd, 31 yo).
And the youngest woman to take a company public on the Nasdaq. 

In 2019, private equity giant Blackstone Group purchased a majority stake in Bumble

Wolfe Herd will own about 11% of outstanding interests in Bumble and control 14% of the voting power, according to the company's securities filings. Blackstone will own about 67% of the outstanding economic interests in Bumble and control 83% of the outstanding voting power.

Bumble’s IPO and opening valuation will open significantly higher than competitor Match Group’s 2015 IPO, which was valued at $2.9 billion when it raised about $400 million.  The rival is the parent company of a number of dating platforms including, Tinder, Plenty of Fish, Hinge and OkCupid.

In a securities filing, Wolfe Herd said Bumble has the ability to become a "preeminent woman's brand" where people can meet "no matter who you might be looking for or what stage of life you're in." 

The company reported revenue of $376.6 million in the first nine months of 2020, with the company reporting a net loss of $84.1 million. That compares to the first nine months of 2019, during which reported revenue of $362.6million and the company reported a profit of $68.6 million. For 2019 in total, the company reported $488.9 million in revenue.

Wolfe Herd previously said the company was profitable since its second year. 

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