IPOs this week : Aug 9 - 13, 2021 (wk 32)

IPOs expected to price

• Veterinary biotech company PetVivo (PETV) is expected to start trading on August 11. 

IPO quiet period expirations

• F45 Training (FXLV) 
• Membership Collective Group (MCG)
• Phillips Edison & Co (PECO)
• Rapid Micro Biosystems (RPID)
• Sight Sciences (SGHT)
• Blend Labs (BLND)
• Erasca (ERAS),
• Imago Biosciences (IMGO), 
• Stevanato (STVN) 
• Blue Foundry (BLFY). 

IPO lockup expirations

• Signify Health (SGFY)
• Viant Technology (DSP)
• Apria (APR)
• Bumble (BMBL)
• Bioventus (BVS), 
• LoanDepot (LDI), 
• Decibel Therapeutics (DBTX), 
• NexImmune (NEXI) and 
• Talis Biomedical (TLIS).

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
• https://bumble.com/

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 Match.com, 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. 

IPOs this week : Feb 8 - 12, 2021 (wk 6)

IPOs expected to price 

• Adagene Inc. (ADAG), 
• Viant Technology (DSP), 
• Bumble (BMBL), 
• Apria (APR), 
• Signify Health (SGFY), 
• AFC Gamma (AFCG) and 
• Vallon Pharmaceuticals (VLON) 

IPO lockup expirations

• NetStreit (NYSE:NTST), 
• CureVac (NASDAQ:CVAC), 
• Duck Creek Technologies (NASDAQ:DCT) and 
• InMed Pharmaceuticals (NASDAQ:INM).

Bumble aims for nearly $6 billion valuation in IPO

 (Reuters) - Bumble Inc, which operates its eponymous dating app, is aiming for a valuation of nearly $6 billion in its initial public offering (IPO), as it prepares for a high-profile market debut at a time when U.S. capital markets have touched record highs.

The company, in a regulatory filing on Tuesday, said it would sell about 34.5 million shares, raising over $1 billion at the upper end of the price range.

Bumble, which is unique among dating apps for letting women make the first move, is seeking to cash in on what is the strongest U.S. IPO market in over two decades. Companies raised a record $168 billion through IPOs on stock exchanges in 2020, according to data from Dealogic.

Bumble was founded in 2014 by Whitney Wolfe Herd, who was also one of the founders of rival app Tinder, which she left earlier that year.

In 2019, private equity giant Blackstone took a majority stake in Bumble, valuing the firm at around $3 billion, according to PitchBook.

Bumble also counts the likes of tennis legend Serena Williams and actress Priyanka Chopra, who starred in the TV series Quantico, among its investors.

The app, which is immensely popular among millennials, has grown rapidly worldwide over the past few years, but its popularity took a hit last year due to the COVID-19 pandemic as users stayed at home and practised social distancing.

It had 42 million monthly active users as of the third quarter of 2020, and 2.4 million paying users in the nine months ended September, according to its latest filing.

Austin, Texas-based Bumble had confidentially filed for an IPO late last year. It said it plans to list on Nasdaq under the symbol “BMBL”.

Bumble has confidentially filed for IPO that could happen in February

The Bumble app was started in 2014 by Whitney Wolfe Herd.

• Before Bumble, Wolfe Herd cofounded rival dating app Tinder, but left the company two years later and filed a sexual harassment and discrimination lawsuit that was later settled.
• Wolfe Herd has an estimated net worth of $290 million and is married to a Texas oil heir.

Bumble, the dating app where women make the first move, has filed confidentially for an initial public offering, according to people familiar with the matter.

The company is planning to IPO in February, said the people, who asked to not be identified because the matter isn’t public. A listing could come around Valentine’s Day, they said, though not on that exact day because it falls on a weekend. No final decision has been made and the timing could change.

Bumble CEO Whitney Wolfe Herd

Bumble, backed by the Blackstone Group Inc., could seek a valuation of $6 billion to $8 billion in an IPO, Bloomberg News has reported. The firm is working with advisers including Goldman Sachs Group Inc., Citigroup Inc. and Morgan Stanley.