Bumble agrees to $1.3B all-cash takeover by Ithaca Holdings

Bumble has signed a definitive agreement to be acquired by Ithaca Holdings in an all-cash deal valuing the dating app at $1.3 billion. Class A shareholders will receive $6.05 per share, about a 138% premium to the unaffected October 9 close. An independent board committee recommended the deal after a strategic review, and founder Whitney Wolfe Herd did not take part in the vote.

Why it matters: Bumble went public in 2021 at roughly $14 billion, and this sale marks how far it has fallen amid shrinking paying users and revenue down 15.2% in Q2.