Bumble agrees to $1.3 billion acquisition by Ithaca Holdings

Deal and leadership

Bumble announced Tuesday that it had agreed to a $1.3 billion acquisition by Ithaca Holdings. The transaction would take the dating company private. TechCrunch

An independent committee of Bumble’s board recommended the deal after reviewing strategic options and consulting outside legal and financial advisers. Founder and chief executive Whitney Wolfe Herd did not participate in the board’s discussions or vote, according to the company’s press release. TechCrunch

Ithaca directors Ravi Gupta and John Hegeman will become co-chief executives, BBC Business reported. Wolfe Herd said she would remain actively involved and work with the new owners, although her future role is unclear. TechCrunch+1

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Revenue and users decline

Bumble reported second-quarter 2026 revenue of $211 million, down 15.2% from a year earlier. Its paying user base fell 16.4% to approximately 3.2 million. TechCrunch

Founded by Wolfe Herd in 2014, Bumble went public in 2021 at a valuation of roughly $14 billion. Since listing, it has recorded an annual pre-tax profit only once, in 2023, and reported steep losses in the following two years. TechCrunch+1

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Rethinking the dating experience

Bumble built its brand around allowing only women to initiate conversations with matches, but abandoned that rule in August 2026. Wolfe Herd said users wanted more flexibility and less pressure. BBC Business

The company has introduced AI features, including guidance for creating profiles, and announced Plans in July to bring people together through real-world activities. It is also developing a new way for users to interact that could eventually replace swiping. TechCrunch+1

Gupta and Hegeman said they wanted technology to serve human connection, describing the investment as “a bet on the future of humanity.” BBC Business

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