Bumble IPO, the company brought in a total of $2.15 billion, on Wednesday it sold 50 million shares at a price of $43 per share. 31-year-old founder of Bumble Wolfe herd became the youngest woman, who held an IPO of the company.
Shares Bumble, international Dating apps, will begin trading on the NASDAQ on Thursday under the symbol BMBL after carrying out more successful than expected, the company’s IPO (initial public offering of shares on the stock exchange).
Feature of app Bumble is that women make the first move for you to explore.
On Wednesday, the company Bumble has sold 50 million shares at $43 each and raised $2.15 billion the company had Previously planned to sell 45 million shares at a price of $37 to $39 per share, a goal that was previously increased from 34.5 million shares at a price of $28 – $30.
The company operates two Bumble apps for Dating, Bumble and Badoo, which is available in 25 and 51 different languages around the world.
Bumble was created in 2014, Wolfe herd (Wolfe Herd), which was previously a co-founder of Dating application Tinder is owned by Match Group. At 31, Wolfe herd is the young woman who became CEO of a large company in the US and brought it to IPO.
The largest investments Bumble got sold a controlling stake of its shares to private equity firm Blackstone Group Inc. in 2019, following the transaction, the valuation of the company Bumble amounted to $3 billion.
According to the company, the General audience apps Bumble and Badoo exceeded more than 40 million users in a month. A good PR with celebrities Priyanka Chopra and Serena Williams helped the applications to grow rapidly.
Although Bumble will be free to use, the company earns revenue when customers purchase the premium subscription. This gives them the opportunity to expand the scope of their profiles or to see who they’ve liked in the app. The company also earns revenue from advertising and affiliate programs.
At the end of the third quarter 2020, the company had 2.4 million paying users, compared with 2.1 million a year ago.
According to the company Bumble documentation, for the first nine months of 2020, the losses amounted to $116,7 million against profit of $68.6 million for the same period last year.
Bumble income for the first nine months of 2020 rose to $416,6 million compared to $362,6 million a year earlier. The company’s revenues for the full year 2019 was $488,9 million, 36% more than in 2018.
Bumble on the website reads: “We created the Bumble app with features designed to empower women, giving them more control in the relationship. We believe that expanding the rights and opportunities of women through the changing dynamics of the relationship, we can make the world a better place for all.”
In a letter to investors Wolfe herd said that women who made the first step is a “massive shift”. “Archaic gender dynamics and old-fashioned traditions still ruled the world of Dating. This has led to all sorts of unhealthy dynamics, which ultimately deprived of the rights of women and created unnecessary pressure on men.”
In its IPO prospectus Bumble warned that see key risks for the company highly competitive industry Dating and “a constant stream of new products and participants.”
“Innovation of our competitors can undermine our business,” said Bumble.
The underwriters of the IPO, Bumble was the largest U.S. banks Goldman Sachs, Citigroup, Morgan Stanley and JPMorgan Chase & Co.
Source:
Reuters
