Dating App Bumble in Advanced Talks to Go Private at $1 Billion Valuation, Source Says

3-line summary

• Dating app Bumble is in advanced talks with investment firm Ithaca Holdings to go private at a valuation of roughly $1 billion, Reuters reported, citing a source. Bumble and Ithaca Holdings did not immediately respond to Reuters' request for comment.
• Bumble shares surged roughly 52% on the report, to $3.86. The company's market capitalization was about $389 million as of Friday's close, with its stock down roughly 29% so far this year. Reuters had earlier this year reported that Bumble was exploring a sale.

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