Story perspectives

Ithaca Holdings to take Bumble private in $1.3 billion deal

By Drooid · Oct 13, 2026, 6:02 PM UTC · How we work

Summary

Ithaca Takes Bumble Private

Ithaca Holdings agreed to take Bumble private in a $1.3 billion deal.
Ithaca offered $6.05 per share, a roughly 122% premium to Bumble’s closing price.
Paying users fell 16.4% to 3.2 million in Q2 2026.
Quarterly revenue declined 15.2% year over year to $210.5 million.
Founder Whitney Wolfe Herd, CEO since March 2025, will roll over part of her stake.

Summary

Bumble Announces AI

Ithaca Holdings appointed directors Ravi Gupta and John Hegeman as Bumble’s co-chief executives.
The acquisition plan describes Bumble’s future as an “AI-transformed” dating platform.
Founder Whitney Wolfe Herd will remain actively involved, working closely with the new co-CEOs.
Bumble eliminated its women-first messaging rule in August, sparking user debate over the brand’s identity.
The firm cut almost one-third of its workforce in 2025, describing the market as an “inflection point”.

History

Historical Context

In February 2011 Match Group bought OkCupid for $50 million, its first free, ad-supported dating site and the initial large-scale U.S. dating consolidation. The acquisition expanded Match Group’s portfolio of sites. Ithaca Holdings’ 2026 takeover of Bumble mirrors that significant consolidation trend within the online dating industry, echoing Match Group’s earlier strategy.

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Ithaca Takes Bumble Private

Ithaca Holdings agreed to take Bumble private in a $1.3 billion deal.
Ithaca offered $6.05 per share, a roughly 122% premium to Bumble’s closing price.
Paying users fell 16.4% to 3.2 million in Q2 2026.
Quarterly revenue declined 15.2% year over year to $210.5 million.
Founder Whitney Wolfe Herd, CEO since March 2025, will roll over part of her stake.

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