The initial public offering (IPO) train rolls on.
Dating app Bumble is reported to be preparing for an IPO and could seek a valuation of $6 billion to $8 billion. Bumble's IPO could come this autumn or early next year (2021).
Technology focused companies are looking to ride the recovery in U.S. capital markets from the COVID-19 pandemic that earlier this year forced several companies to postpone their stock debuts. Bumble is the latest technology company to consider jumping into the IPO market, which could see listings this year from well-known brands such as Airbnb, Asana and Palantir.
Private equity firm Blackstone Group bought a majority stake in Bumble last year in a deal that valued the company at $3 billion. Founded in 2006 by Andrey Andreev, Bumble had been mulling an IPO before that deal.
The Bumble app was created in 2014 by founder Whitney Wolfe Herd, who previously co-founded Tinder, where she had been an executive. Herd became chief executive officer of the family of apps as part of the deal with Blackstone.
Other investors in Bumble include venture capital firms Accel, Bessemer Venture Partners and Greycroft.
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