Bumble Inc. to Be Acquired by Ithaca Holdings, the Long-Term Holding Company for Enduring Technology Businesses

Bumble agreed to be acquired by Ithaca Holdings in an all-cash take-private valuing the company at $1.3 billion, with shareholders receiving $6.05 per share. The price represents a 138% premium to the unaffected October 9 close and 119% to the 30-day VWAP. The Special Committee ran the process and the board unanimously approved, with founder-CEO Whitney Wolfe Herd recused; Blackstone and Wolfe Herd affiliates delivered shareholder approval by written consent. Upon closing, Ithaca Co-CEOs Ravi Gupta and John Hegeman become Bumble Co-CEOs, Wolfe Herd remains involved, and Bumble will be privately held, based in Austin.

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