Bumble, which operates online dating apps including Badoo and Bumble, announced terms for its IPO on Tuesday.
The Austin, TX-based company plans to raise $1.0 billion by offering 34.5 million shares at a price range of $28 to $30. At the midpoint of the proposed range, Bumble would command a fully diluted market value of $5.8 billion.
The company operates the Badoo and Bumble online dating apps; the Bumble dating app is known for having women initiate conversations. Badoo and Bumble currently serve over 40 million users on a monthly basis, with an average of 150 million messages sent every day in the nine months ended September 30, 2020. Bumble and Badoo rank among the top five grossing iOS lifestyle apps in 30 and 89 countries, respectively.
Bumble was founded in 2006 and booked $543 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol BMBL. Goldman Sachs, Citi, Morgan Stanley, J.P. Morgan, Jefferies, RBC Capital Markets and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of February 8, 2021.
