Bumble IPO: Dating App to Pursue Going Public

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The Bumble IPO may be happening sometime within the next year, although the company is still sorting out its legal battle with Tinder parent company Match Group (NASDAQ:MTCH).

Bumble IPO

Bumble had announced back in March that it was filing a lawsuit of $400 million against Match Group, claiming that the latter had fraudulently obtained trade secrets from the former. The move came only a few weeks after Match filed a suit against Bumble over patent infringement and misuse of intellectual property.

The Match lawsuit claimed that Bumble had copied “Tinder’s world-changing, card-swipe-based, mutual opt-in premise.” It added that former Tinder employees Chris Gulczynski and Sarah Mick copied some of the design elements of Tinder and added them to Bumble.

Bumble was created by CEO Whitney Wolfe, who was one of the co-founders at Tinder and had sued the online dating app for sexual harassment. Despite all the drama, Bumble insists on going public as the company’s business has boomed outside the U.S.

You can now find the app in Canada, Australia and the UK, plus it may soon arrive to Germany, Mexico, South America and the rest of Latin America in 2019. Asia may also be in the works as well.

Bumble recently increased its revenue run rate to $200 million a year, which comes solely from the company’s in-app subscription business as it doesn’t run ads. The app also recently topped the 40 million user mark.

MTCH stock gained about 1.2% on Monday following the news.


Article printed from InvestorPlace Media, https://investorplace.com/2018/09/bumble-ipo/.

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