Bumble Inc, a dating platform provider, has filed Amendment No 2 to Form S-1 Registration Statement February 2, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $1 billion by offering 34.5 million shares at a price range of $28 to $30. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $5.8 billion.
The company operates two apps, Bumble and Badoo, where over 40 million users come monthly to discover new people and connect with each other in a safe, secure and empowering environment. They ranked among the top five grossing iOS lifestyle apps in 30 and 89 countries, respectively.
The Austin, Texas-based company was founded in 2006 and booked $543 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq Global Select Market under the symbol “BMBL.” Goldman Sachs, Citi, Morgan Stanley, J.P. Morgan, Jefferies, RBC Capital Markets and Evercore ISI are underwriters of the IPO.
The company engages Simpson Thacher & Bartlett LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.
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