Bumble Agrees to $1.3 Billion Ithaca Holdings Deal to Go Private

Bumble has agreed to a $1.3 billion acquisition by Ithaca Holdings in a deal that would take the dating app company private. The agreement follows several years of declining revenue and paying subscribers as Bumble works to rethink its approach to online dating.

Under the acquisition agreement, shareholders will receive $6.05 per Class A share in cash, representing a 138% premium to Bumble’s closing share price on October 9. An independent board committee recommended the transaction after reviewing strategic alternatives.

Founder and CEO Whitney Wolfe Herd did not participate in the board’s deliberations or vote on the transaction. She plans to remain actively involved after the acquisition, working alongside Ithaca Holdings executives Ravi Gupta and John Hegeman, who will become Bumble’s co-CEOs when the deal closes.

Bumble’s Revenue and Paying Users Continue to Decline

Founded in 2014, Bumble distinguished itself by letting women start conversations with matches. The company went public in 2021 at a valuation of approximately $14 billion, but its business has since faced declining subscriptions and changing expectations around dating apps.

According to BBumble’ssecond-quarter 2026 results, revenue fell 15.2% year over year to $210.5 million. Total paying users declined 16.4% to approximately 3.2 million, reflecting continued pressure on the company’s subscription business.

The acquisition would allow Bumble to pursue product changes outside the quarterly reporting demands of public markets. The company has been exploring AI-powered features and alternatives to traditional swiping to improve user engagement and encourage more in-person connections.

Bumble Looks Beyond Swipe-Based Dating

One initiative is Plans, a social events app introduced in 2026 that brings people together through organised group activities. Instead of relying on lengthy online conversations, the service focuses on helping participants meet in person.

Wolfe Herd has also discussed developing a new way for people to interact on Bumble that could eventually replace the familiar swipe-based experience. These efforts reflect the company’s attempt to address dissatisfaction with conventional dating apps.

Ithaca Holdings has expressed support for Bumble’s women-first approach and plans to work with its existing team on the next phase of product development. The acquisition remains subject to closing conditions, and Bumble is expected to operate as a privately held company once the transaction closes.