SharePlusDating app Bumble has been acquired by investment firm Ithaca Holdings for $1.3bn. The loss-making company recently abandoned its signature 'women-first' messaging rule. New co-CEOs Ravi Gupta and John Hegeman plan to leverage AI to revitalize the platform. Founder Whitney Wolfe Herd will remain involved with the business she launched 12 years ago.
Dating app Bumble has been acquired by investment firm Ithaca Holdings for $1.3 billion, with the new owners describing the deal as a bet on the future of humanity. The loss-making company, which once peaked at a $14 billion valuation after its 2021 IPO, has faced challenges and steep losses in recent years as user interest shifted and the online dating industry reached an inflection point. New co-chief executives Ravi Gupta and John Hegeman plan to leverage AI to revitalize the platform, focusing on human connection. Meanwhile, founder Whitney Wolfe Herd will remain actively involved with the business, following recent strategic shifts such as dropping the app's signature 'women-first' messaging rule and introducing AI-driven profile features.