Dating app Bumble is aiming to raise $1.8 billion from its initial public offering, Bumble Inc. said in a filing with the U.S. Securities and Exchange Commission on Monday.
The dating app, where women make the first move upon matching, will sell 45 million shares for between $37 to $39 per share, per the S-1 filing. The Austin-based company will list its shares under the trading symbol “BMBL” on the NASDAQ.
BUMBLE FOUNDER WHITNEY WOLFE HERD RECEIVED A $125M PAYOUT
Bumble previously aimed to sell 34.5 million shares priced between $28 to $30.
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The company, founded by Chief Executive Officer Whitney Wolfe Herd in 2014, has 42 million monthly average users and 2.4 million users who pay for its subscription.
“The sheer scale of our platform creates powerful network effects, with more users on the platform improving selection, which improves user experience and drives even more users to our platform,” reads a statement included with Monday’s filing.
Goldman Sachs and Citigroup are leading the IPO.
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Dating apps, meanwhile, have seen massive growth during the pandemic, with more users at home and looking for love virtually. The top 20 dating apps have seen 1.5 million daily active users in 2020, according data firm Apptopia.