Bumble's going public
The public markets have been so active lately that it’s hard to drum up excitement for yet another company making its way to the bull market. But, in the case of Bumble, a dating app where women message first, next week’s public debut is worth paying attention to.
The market for dating startups has long had an 11-year-old elephant in the room: Match Group. The Dallas company owns popular dating brands including Tinder, Hinge, OkCupid, and more, which some saw as the singular exit point for startups that help people meet.
Bumble, founded by Whitney Wolfe Herd, will change that narrative with its entrance into the public markets. Bumble is seeking to raise more than $1 billion upon debut. The company could be worth between $5.73 billion and $6.14 billion, looking at a diluted valuation.
Such online resources are in great demand now. It started against the backdrop of the covid lockdown. Then people realized that it is much easier to communicate on dating sites. You get a double benefit: there is no censorship and there is an opportunity for searching local single moms. At least that's what most of my friends think.