Bumble Agrees to $1.3 Billion Acquisition by Ithaca Holdings

Bumble Inc. has signed a definitive agreement to be acquired by Ithaca Holdings in a $1.3 billion all-cash deal. The transaction will take the dating app company private. Shareholders will receive $6.05 per share, a 138% premium to Bumble’s closing share price on October 9 and a 119% premium to its 30-day volume-weighted average share price.

Ithaca Holdings is a technology investment holding company led by co-founders Ravi Gupta and John Hegeman. The firm focuses on established technology businesses and plans to use AI and operational expertise to support their growth. Following the acquisition, Gupta and Hegeman will become Bumble’s co-CEOs. Founder and current CEO Whitney Wolfe Herd will remain actively involved.

An independent committee of Bumble’s board reviewed the deal and recommended its approval. The board voted unanimously in favour, with Wolfe Herd abstaining from the discussions and vote. Affiliates of investment firm Blackstone and Wolfe Herd have already provided the required shareholder approval. Once completed, Bumble will remain headquartered in Austin, with offices in London and New York.

The acquisition follows a difficult period for Bumble, which reached a valuation of roughly $14 billion during its stock market debut in 2021. Wolfe Herd returned as CEO in March 2025 and has been working to revive growth through product changes and new features. In Q2 2026, revenue fell 15.2% year-on-year to $210.5 million, while paying users declined 16.4% to 3.2 million.

Bumble Inc. owns the Bumble dating app, Badoo dating platform and BFF friendship app. Wolfe Herd said Ithaca shares Bumble’s women-first vision and is committed to investing in its future.

The acquisition remains subject to closing conditions, including any required regulatory approvals. No completion date was specified in the announcement.