Dating app Bumble holds its initial public offering (IPO) today and expects to raise $2.15 billion from the share sale.
The company offered 50 million shares, which they raised from 45 million, at $43 each. That pricing level came in $4 above the high end of its upwardly revised range. Bumble initially planned to offer 34.5 million shares in a price range of $28 to $30.
Bumble will trade on the NASDAQ stock exchange under the ticker symbol BMBL.
The company operates two dating apps, Bumble and Badoo, which together draw more than 40 million users a month. Bumble and Badoo are two of the highest-grossing online dating mobile applications globally, as of August 2020.
For the first nine months of 2020, Bumble reported revenue of $416.6 million U.S., up 15% from the year-ago period, according to the Bumble IPO filing. Bumble posted a loss of $118.5 million during the first nine months of last year, vs. net income of $54 million in the comparable period of 2019.
The lead underwriters for the Bumble IPO include Goldman Sachs, Citibank and Morgan Stanley.
