NEW YORK – Bumble has agreed to be taken private by Ithaca Holdings in a deal valued at US$1.3 billion (S$1.6 billion), as the dating app pushes forward with its months-long turnaround amid shifting Gen Z dating habits and declining paying users.
Ithaca Holdings will pay US$6.05 per share, according to a statement on Oct 12. The deal price represents a 138% premium over Bumble’s closing share price on Oct 9.
After the deal is completed, Bumble will remain based in Austin with other major offices in London and New York.
Bumble and larger rival Match Group, which owns Tinder and Hinge, have been grappling with weaker user engagement, particularly from younger users tired of endless swiping.
Founded in 2014 by CEO Whitney Wolfe Herd, Bumble pioneered the “women-go-first” approach to online dating.
Under Herd, who returned as CEO in March 2025 after stepping down in 2023, the company has doubled down on revamping its core product with AI-powered features, group dating and a redesigned member experience in a bid to revive growth.
In August, Bumble ditched the women-go-first model, its latest move to boost user engagement.
The company also introduced an artificial intelligence-powered assistant designed to act as a personal matchmaker, offering an alternative experience to swiping through user profiles.
The efforts follow steep declines in total paying users and revenue. Total paying users fell 16.4% to 3.2 million in the second quarter of 2026, while quarterly revenue has been declining for nearly two years.
Herd said she would “remain actively involved with Bumble”.
Bumble’s market capitalisation has shrunk to about US$582 million as of Oct 12, a far cry from the US$14 billion valuation when it went public in 2021. REUTERS, BLOOMBERG
