The dating app is being acquired by a private equity firm — and going private again — after shares declined 90% from their peak. This may give it a second chance in experimenting how it monetizes, says Sarah Kunst, managing director at Cleo Capital.
When Bumble went public five years ago, the dating app known for being a friendlier place for women was valued at $14 billion. But the dating business, the tech industry and the stock market have changed a lot since then. And shares declined 90% from their peak.
Now, the company is going private again. It's being acquired by private equity firm Ithaca Holdings, with two new CEOs taking the helm. Sarah Kunst, managing director at the venture firm Cleo Capital and former senior advisor at Bumble, explains what this all means.
“Bumble bought for $1.3bn in 'bet on the future of humanity'“ from BBC
“Here's what happens to Twitter's stock now that it's a private company” from NBC News
“EA is now a private company” from The Verge
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