Updated version 1 - Sources say the dating app Bumble is in advanced talks to go private at a $1 billion valuation.

Supplement background information from paragraph 3 onwards.

Milana Vinn

Reuters, October 12 - A source familiar with the matter told Reuters on Monday that dating app operator Bumble BMBL is in advanced talks with Ithaca Holdings over a potential privatization deal, which would value Bumble at about $1 billion.

Bumble’s share price rose about 52% to $3.86. Earlier this year, Reuters had reported exclusively (link) that Bumble was exploring a sale, as growth in the online dating industry slows.

Bumble and Ithaca Holdings have not yet responded immediately to Reuters’ request for comment.

As of last Friday’s close, Bumble’s market capitalization was about $389 million. The Austin, Texas-based company’s stock has dropped nearly 29% this year.

Bumble and its bigger rival, Match Group MTCH.O — owner of platforms including Tinder, Hinge, and OkCupid — (link) are under pressure in an intensely competitive market, with user engagement continuing to decline, especially among Gen Z users who are tired of endless swipe matching.

Bumble was founded in 2014 by CEO Whitney Wolfe Herd, pioneering a “women-first” approach in online dating.

Under Herd’s leadership—she stepped down in January 2024 and is set to return as CEO in March 2025—Bumble is overhauling its dating app by introducing AI-powered features and new ways for users to interact, aiming to revive its growth momentum.

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