Popular dating app Bumble has agreed to a $1.3 billion acquisition deal with Ithaca Holdings, taking the dating app company off the stock market after its valuation fell sharply from its 2021 peak, Bloomberg reported.
Bumble shareholders will receive $6.05 per share in cash. The offer represents a 138 percent premium over the company's closing share price on October 9, according to the company's announcement.
Founded in 2014 by Whitney Wolfe Herd, Bumble became known for its women-first approach to online dating. The company went public in 2021 at a valuation of around $14 billion, but has since struggled with falling revenue and a shrinking base of paying users.
Bumble reported 3.2 million paying users in the second quarter of 2026, down 16.4 percent from a year earlier. Revenue fell 15.2 percent year-on-year to $211 million during the same period.
The company has introduced artificial intelligence-powered features and other changes to attract users and improve engagement. However, declining subscriptions have continued to weigh on its business.