Various sources have stated that the dating app Bumble has recently filed for an initial public offering. The app is hoping that it can go public as soon as February, perhaps fittingly close to Valentine’s Day.
Unofficially, the rumor now is that Bumble is looking for a valuation between $6 billion and $8 billion.
Details on this are to be further hashed out in the near future, however. The filing was done privately but news of the move has leaked.
This comes after Bumble’s collaboration with advisers from experts at Citigroup, Morgan Stanley, and Goldman Sachs.
Once the filing is public, there will be much more information available to analyze and predict a more accurate idea of what Bumble’s IPO might actually look like.
It is not clear how much revenue Bumble will need to have made to get the valuation it is looking for and how fast growth will need to be, but this data should be available sooner rather than later.
This filing is really no surprise at all, and it has been speculated by various media outlets that Bumble would be one of several to file for an IPO in 2020.
Other prominent companies like Airbnb, DoorDash, Coinbase, Poshmark, Roblox, Affirm, Snowflake, Palantir, and others have already had their IPOs or been in the news for filing them too.
Bumble’s coveted February IPO date would be what is speculated as a very busy time for IPOs in 2021 as the stock market continues to hit or stay close to all-time highs.
Bumble, of course, is unique in the online dating scene in that it allows women the ability to make the first move to match with the date of their choice.
The company has been around since 2014 and was founded by Whitney Wolfe Herd, who is also a co-founder of the competitor, Tinder.
Bumble now has roughly 100 million users and is growing at a fairly quick rate.
It will join other dating apps and sites on the stock market like Match Group (MTCH), which is made up of apps that include Tinder, PlentyOfFish, Match, OurTime, Hinge, and OkCupid.
Spark Networks (LOV) is another competitor already on the market and it represents other major players in the online dating scene like Christian Mingle, JDate, Zoosk, and Elite Singles.
For anyone who is interested in investing, keep an eye on Bumble in the coming days.
Online dating is not going away anytime soon and a company like Bumble could reap huge dividends in 2021 and beyond.
