Bumble is set to go private following a $1.3 billion acquisition deal with Ithaca Holdings. Upon completion of the transaction, Ithaca Co-CEOs Ravi Gupta and John Hegeman will assume the role of co-CEOs at the dating app, working closely with Bumble founder Whitney Wolfe Herd to drive its next phase of growth.
The transaction follows a review by an independent Special Committee of Bumble’s Board of Directors, which evaluated various strategic alternatives with the support of independent legal and financial advisers. The committee concluded that Ithaca’s proposal was in the best interests of Bumble’s common shareholders and recommended that the board approve the deal.
The board unanimously approved the transaction, excluding Wolfe Herd, who recused herself from the deliberations and voting process.
Wolfe Herd said she was grateful to the Bumble team for building the company and its women-first mission. She added that Ithaca shared the company’s vision and was committed to investing in its future.
The founder also confirmed that she would remain actively involved in Bumble, working alongside Gupta, Hegeman and the team to continue developing the platform and strengthening its focus on meaningful connections.
Gupta and Hegeman said the investment reflects their belief in the enduring importance of human connection, relationships, love and family. They highlighted Bumble’s established brand and loyal community as key strengths, adding that they see significant potential to take the platform into its next phase as technology and dating habits evolve.
Following the transaction, Bumble will operate as a privately held company, with offices in London, Austin and New York City. The company is expected to retain its base in Austin.
