Bumble is set to delist from the stock market and go private after agreeing to a $1.3 billion acquisition by Ithaca Holdings. Once the transaction closes, Ithaca’s co-founders and Co-CEOs, Ravi Gupta and John Hegeman, will take over as Co-CEOs of Bumble. They will work closely with founder Whitney Wolfe Herd to carry the platform’s vision of helping people find connection in love and life into its next chapter.
The deal followed a structured review by an independent Special Committee of Bumble’s Board, which weighed several strategic alternatives with the help of independent legal and financial advisors. It concluded that Ithaca’s offer served common shareholders best and recommended it to the full Board. The Board approved the transaction unanimously, with Wolfe Herd recusing herself from both deliberations and the vote.
Wolfe Herd thanked the Bumble team and said Ithaca shares the company’s women-first mission and is committed to investing in its future. She confirmed she will stay actively involved, calling her belief in Bumble stronger than ever. Gupta and Hegeman described the investment as a bet on human connection, pointing to Bumble’s trusted brand and loyal community as its core strengths. They added that they see strong potential in taking the platform forward as dating habits and technology evolve.
Post-acquisition, Bumble will operate as a privately held company with offices in London, Austin and New York City. Austin is expected to remain its headquarters.
