Bumble goes private in $1.3 billion deal as Ravi Gupta becomes co-CEO

Bumble has agreed to a $1.3 billion go-private deal with Ithaca Holdings. Ravi Gupta and John Hegeman are set to lead the dating-app company after closing, while founder Whitney Wolfe Herd remains involved.

Bumble has agreed to be acquired by Ithaca Holdings in a deal valued at about $1.3 billion, a transaction that would take the dating-app company private. Ithaca has offered $6.05 for each Bumble share, according to the company announcement.

The offer represents a 122.4 per cent premium to Bumble’s closing share price on June 24, the day before Reuters first reported that the company was exploring a sale. Bumble shares jumped towards the offer price after reports of the transaction emerged.

Today we announced an agreement to acquire Bumble. Over the past six months, we’ve looked at hundreds of companies,........

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