IPO Terms
Company: Bumble Inc.
Proposed Symbol: BMBL
Exchange: Nasdaq Global
Expected IPO Date: 2/11/21
CEO: Whitney Wolfe Herd
# of employees: 650 (as of 9/30/20)
Offer Amount: $2B
Proposed Share Range: $37-$39
Shares Offered: 45 mm
Estimated Market Cap: $7B-$8B
Company Overview (S-1):
“The Bumble app, launched in 2014, is one of the first dating apps built with women at the center. On Bumble, women make the first move, and have done so more than 1.7 billion times from September 2014 to September 2020”
Lead Underwriters: Goldman Sachs
Private Equity Stakeholders: Blackstone
Competitors: Tinder, Happn
Revenue:
Year Ended 12/31/18: $360M
Year Ended 12/31/19: $480M
(Unaudited) 1/1/20- 9/30/20: $416.5M
Net Loss:
Year Ended 12/31/18: $23.6M
Year Ended 12/31/19: NA (profitable)
(Unaudited) 1/1/20- 9/30/20: $116M
Notes
- Female-initiated dating app
- CEO Whitney Wolfe Herd cofounded online dating app rival Tinder
- First major dating app to introduce automated photo verification
- Leverages machine learning to shield users from inappropriate content
- Launched in-app video chat in 2016
- Unprofitable in 2018 -6.6% net loss; profitable in 2019 +17.6% net earnings