Are you feeling a buzz on Wall Street? Perhaps it is because dating app play Bumble just filed to go public. Dive in with InvestorPlace below for everything you need to know about the Bumble IPO and BMBL stock.
For those unfamiliar, Bumble has emerged as a major player in the mobile-based dating app world. Founder and CEO Whitney Wolfe Herd, a former Tinder creator, also wanted the platform to stand out. Unlike on Tinder, in opposite-sex matches, the woman must message first. According to the founder, this is a way to encourage healthy relationships and move away from what she sees as old-fashioned dating dynamics. For investors, it sounds like a great way to get in on the second highest-grossing dating app in the world.
With that in mind, here is what you should know about the Bumble IPO and BMBL stock:
- Bumble filed its form S-1 with the U.S. Securities and Exchange Commission on Friday.
- At this time, the company has not disclosed how many shares it will offer.
- It has also not shared an estimated IPO price range.
- However, Bumble says it will trade on the Nasdaq Exchange under the ticker BMBL.
- In addition to its dating platform, Bumble has business and social connection modes.
- The Bumble IPO also includes the dating app Badoo.
- Russian entrepreneur Andrey Andreev founded Badoo back in 2006.
- In 2020, Bumble became the parent company of the Bumble and Badoo brands.
- Together, Bumble and Badoo generated $488.9 million in 2019, up nearly 36% year-over-year.
- For the first nine months of 2020, they generated a combined $376.6 million.
- Right now, it looks like Bumble will raise $100 million through its IPO process.
- However, that is likely just a placeholder figure for BMBL stock. As Luisa Beltran wrote, it should change with later filings.
The Bumble IPO and BMBL Stock
So what else should investors know about the upcoming Bumble IPO and BMBL stock?
To start, there is still a good deal of information we do not know. As Bumble continues to update its filings, we should learn more about the specifics of the offering, including the timeline. Right now, many experts predict we will see BMBL stock start trading in February 2021.
Additionally, investors should understand the narrative for Bumble, Badoo and their dating app peers. Although Covid-19 made it tricky to meet up with strangers for awkward first dates in person, it did not stop these companies from finding success. In fact, in the middle of the pandemic, the top apps gained a collective 1.5 million daily active users. How and why? While some apps have generated controversy for encouraging in-person meetups, others pivoted to virtual dating options. Bumble is one of those apps, and it has also released guides to help users navigate virtual dating.
Plus, as the vaccine rollout continues and the world reopens, we could see a rebound in casual dating. Such a rebound would benefit top platforms like Bumble and Badoo.
In other words, investors should be feeling the spark here. Make sure to keep the upcoming Bumble IPO and BMBL stock on your radar.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.
