Andrey Andreev has commented on how a Bumble IPO is progressing in a conversation with Bloomberg.
Andreev is the majority shareholder of Rimberg International Corp., the holding company for brands Badoo, Bumble and Chappy.
He says a Bumble branded IPO may help to make Rimberg more valuable than Match Group. At present, it brings in around one third of the revenue.
“We’re better than Match, we’re younger than Match, we’re growing faster than Match,” said Andreev.
“Because we’re younger and faster we deserve a better market cap.”
He reports being in “deep discussions” with banks, including JPMorgan, adding: “The listing would be on the Nasdaq. It’s been in the air for ages, but the serious consideration has happened only recently — in the past month.”
It is claimed in the interview that Bumble is growing 500% per month in Germany, which it only entered recently.
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