Bumble, which operates online dating apps including Badoo and Bumble, raised $2.2 billion by offering 50 million shares at $43, above the range of $37 to $39. The company offered 5 million more shares than anticipated. It originally planned to offer 34.5 million shares at $28 to $30 before increasing the deal size on Monday.
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 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 acted as lead managers on the deal.
