Woman Dating App Bumble Cross Value Over $14 Billion.

Woman Dating App Bumble Cross Value Over $14 Billion.


Great listing of Woman Dating App: Bumble shares list up 77%, value over 14 Billion Dollars.

Introduction.

Woman dating app Bumble's Valentine's Week has had a great opening on Wall Street. Bumble's Initial Public Offering (IPO) has received a great response from investors. Bumble's shares in the Nasdaq (NASDAQ) were listed on the US Stock Exchange at a 76.78% premium to $ 76 per share. Its issue price was $ 43 per share. It reached $ 79.60 a share in intra-day. However, it eventually closed at $ 70.31 per share, up about 64%.

14 billion-dollar valuation.

Bumble issued an IPO to raise $ 2.15 billion to grow the business. After the successful launch of this IPO, Bumble's valuation has gone up to $ 14 billion to about Rs 1 lakh crore. Bumble is a female dating app. In this, women make choices with whom they want to date. Bumble has over 40 million monthly active users worldwide. It has more than 10 million installs in India.

Was founded in 2014.

Bumble was founded in 2014 by Whitney Wolf Herd. Whitney was also the co-founder of Bumble's contestant App Tinder. However, he left the company after accusing Tinder's founders of sexual harassment. In early 2019, American investment firm Blackstone Inc. bought a majority stake in Bumble for $ 3 billion. However, Whitney Hurd remains the CEO of Bumble. Whitney's net worth has also gone up by $ 1.5 billion to about 10 thousand crore rupees due to the IPO's grand opening.

Whitney becomes the youngest woman to list a big company.

Whitney became the youngest woman to be listed as a CEO in the United States in the stock market of a large company. Whitney says she will use the proceeds from this IPO to pay off debt and buy potential. Whitney says that we will now aggressively focus on international growth.

IPO price hiked.

Bumble had previously placed the issue price for this IPO in the price band of 28 to 30 dollars. But it was later increased by 30% to $ 43. Apart from this, the company has also increased the size of the IPO. The company earlier planned to issue 3.5 crore equity shares. It was later increased to 4.5 crore equity shares. Bumble has helped raise $ 2 billion from this IPO.

Priyanka Chopra and Serena Williams are Bumble's brand ambassadors.

Bumble app is very popular among women all over the world including America. Bollywood's famous actress Priyanka Chopra and US tennis player Serena Williams are its brand ambassadors and promote it.

Revenues of $ 376 million in January-September 2020.

Bumble's total revenue from January 2020 to September 2020 was $ 376 million. However, the company also incurred a net loss of $ 84 million during this period. Bumble's 2.5 million monthly active users were 2.5 million paying active users in the third quarter of 2020. Bumble is used in more than 150 countries. The company gets $ 26.84 in revenue from each paying user.



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