Bumble has agreed to a $1.3 billion acquisition deal with Ithaca Holdings, the dating app announced on Tuesday, marking a significant shift for the company. Founded in 2014 by Whitney Wolfe Herd, Bumble will go private after years of declining subscribers and revenue, aiming to revamp its online dating experience away from public market pressures, according to techcrunch.com.
The acquisition follows a strategic review by an independent committee of Bumble’s board, which recommended the transaction after consulting external legal and financial advisers. Wolfe Herd did not participate in the board’s discussions or vote on the deal. Bumble’s revenue fell 15.2% year over year to $211 million in the second quarter of 2026, while its paying user base declined 16.4% to about 3.2 million, techcrunch.com reported.
Bumble had initially gained attention for its women-first approach to online dating, helping it stand out in a crowded market and leading to a public listing in 2021 with a valuation near $14 billion. However, the dating app landscape has shifted, with the familiar swipe-based model facing growing dissatisfaction and competition. The acquisition aims to provide Bumble the flexibility to rethink and innovate its platform away from the scrutiny of public investors, techcrunch.com noted.
The deal marks a major transition for Bumble as it moves from a publicly traded company to private ownership under Ithaca Holdings. The next steps include regulatory approvals and closing procedures, which the company expects to complete in the coming months, according to techcrunch.com.