(Bloomberg) — Shares of dating-app company Bumble Inc. soared after the Wall Street Journal reported that it’s in advanced talks to be taken private in a deal that values it at around $1 billion.
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The buyer is recently formed Ithaca Holdings and a deal could be announced as soon as this week, the Journal reported, citing unnamed people familiar with the matter. A takeover of Bumble would be one of its first major transactions, it said.
A Bumble spokesperson did not immediately respond to requests for comment.
Bumble was founded in 2014 by Whitney Wolfe Herd, a former Tinder cofounder, on the premise that only women could make the first move on the app. But Bumble, like many of its dating-app peers, has suffered user declines as young people have grown fatigued with online dating and have shown an interest in other forms of meeting, including in-person events.
In August, Bumble ditched the women-go-first model, its latest move to boost user engagement.
Shares of Bumble surged as much as 57% to $3.98 on Monday following the Wall Street Journal report, its biggest intraday jump since March 12.
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Source: finance.yahoo.com
