Bumble agrees to $1.3 billion buyout by Ithaca Holdings — Channel NewsAsia

Dating service Bumble announced that it had agreed to go private in a deal with Ithaca Holdings valued at $1.3 billion. This was reported by Channel NewsAsia, citing Reuters.

Attempt to restore growth

The deal comes amid a months-long business overhaul program. Bumble and its larger competitor Match Group, which owns Tinder and Hinge, are facing declining user engagement, especially among younger audiences tired of constantly swiping through profiles.

Bumble was founded in 2014 by CEO Whitney Wolfe Herd. The service became known for its approach under which women initiate conversations first. Wolfe Herd returned as CEO in March 2025 after leaving the position in 2023.

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Decline in paid audience

Under Wolfe Herd's leadership, the company was updating its core product by introducing artificial intelligence-based features, group dating and a redesigned user experience. These steps were intended to support a return to growth.

At the same time, the number of Bumble's paying users fell by 16.4% in the second quarter, to 3.2 million. The company's quarterly revenue has been declining for nearly two years. As of the close of trading on Monday, its market capitalization stood at about $582 million, compared with a valuation of $14 billion when Bumble went public in 2021.

Earlier, Reuters and other media reported that Bumble had been in advanced talks with Ithaca Holdings about going private in a deal that at the time valued the company at about $1 billion.