Dating app Bumble Inc., founded by the American billionaire entrepreneur Whitney Wolfe Herd back in the 2014s shortly after she had been forced to quit Tinder, had been brewing off an option to go public, while the location-based social app where female users could make the first contact with matched male users, had been on the lookout for an IPO valuation between $6 to $8 billion, a Bloomberg news report published late on Tuesday had revealed.
Apart from that, Tuesday’s Bloomberg news report had also quoted one of the sources familiar with the subject-matter who wished to remain anonymous as saying that a Bumble IPO (Initial Public Offering) could be brought into the light as early as by next year.
Nonetheless, the source had also added that the talks had still been in an initial phase and the timing of the IPO could alter given the circumstances of the global financial illness.
Bumble seeks hefty IPO as tech stocks sail over a stunning capital market recovery
In point of fact, latest Bloomberg News report over a potential Bumble IPO as early as by January 2021 came forth as a number of tech mammoths appear to be seeking to capitalize on an astounding recovery in the US stock market since a swathe of start-ups ranging from retail-to-social networking had been forced to suspend their public market debuts due to a pandemic-led pandemonium in the global financial markets earlier this year.
Aside from that, latest move from Bumble Inc. to seek for a public market debut came forth months after the world’s largest private equity firm Blackstone Group Inc.
had bought a majority stake in the popular dating app, while industry analysts were quoted saying followed by the reveal of Bloomberg report that the recent Bumble move could mark up the latest in a string of tech heavyweights likes of Airbnb Inc. and Doordash Inc. which have been vying to jump on the bandwagon of a red-hot US IPO market.