Bumble shares soar after report dating firm in $1bn takeover talks
Dating app Bumble is reportedly in advanced talks to be acquired by technology holding company Ithaca for approximately $1 billion. The potential deal follows a period of declining stock value and workforce reductions for the company as it struggles to maintain growth in a saturated market.
Why it matters
This acquisition highlights the cooling of the online dating industry and the challenges major platforms face in maintaining user engagement and profitability.
Image source, AFP via Getty Images Image caption, Bumble founder Whitney Wolfe Herd
Shares in dating app company Bumble soared by almost 50% on Monday after a report that it is in advanced talks to be bought for around $1bn (£757m).
Technology holding company Ithaca could announce a deal to buy the Texas-based firm as early as this week, according to the Wall Street Journal.
The jump in Bumble's shares pushed its stock market valuation to over $580m but that is still far below a peak of more than $14bn it reached after listing on the Nasdaq in 2021 .
Bumble is one of the world's most downloaded dating apps, operating in a crowded market where growth has slowed. The BBC has contacted Bumble and Ithaca for comment.
Bumble was launched in 2014 by Whitney Wolfe Herd, who was also a co-founder of dating app giant Tinder.
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