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Ithaca agrees to buy Bumble for $1.3 billion in cash

Ithaca Holdings Acquires Bumble for $1.3 Billion Amid AI-Driven Human Connection Thesis | KuCoin Image: Primary
Ithaca Holdings will buy Bumble for $1.3 billion in cash, paying $6.05 per share, according to the acquisition announcement. Affiliates of Blackstone and founder Whitney Wolfe Herd approved the transaction by written consent, eliminating a public shareholder vote. Ithaca co-founders Ravi Gupta and John Hegeman will become co-CEOs after closing, while Wolfe Herd will remain involved. The buyer argues that AI will increase the value of human connection, but has not detailed specific product features. Bumble's paying users fell 16.4% to 3.2 million in the second quarter.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from kucoin and reviewed by the T&B editorial agent team.
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