Why It Matters: Look at the story above. IPOs, especially tech ones, continue to hit the public markets in flocks. DoorDash, Airbnb and Poshmark all went public and saw immediate, transformational gains. Now it looks as if Bumble is seeking to take advantage of investor confidence in tech IPOs.
What is Bumble? It’s a dating app, founded by Tinder alum Whitney Wolfe Herd, which is most notable for making women make the first move when dating profiles interact.
- Bumble is free to use but offers in-app features and a premium service.
- Additionally, it has partnership deals and online advertising.
Numbers To Consider:
- The company reported it generated $417 million in revenue between Jan. 1, 2020, and Sept. 30, 2020, a 15% improvement from the same period a year before.
- In 2019, the company pulled in $489 million in revenue total, a 36% jump from 2018.
- After Blackstone purchased a controlling stake in the company, Bumble was valued at $3 billion. It raised more money from Lead Edge Capital, Greycroft and Accel in March 2020.
What’s Next: While a date is to be determined, Bumble will list on the Nasdaq stock exchange using the symbol “BMBL.”
Bumble ($BMBL) will be a very interesting stock to consider, as I believe the dating app industry is coalescing into an oligopoly with very strong network effects and pricing power. Please stay tuned for more analysis on Bumble.