November 13, 2020 12:54:21 pm
Bumble, a dating app on which women make the first move, is working with Goldman Sachs Group Inc. and Citigroup Inc. on its planned initial public offering, according to people with knowledge of the matter.
The company, backed by private equity firm Blackstone Group Inc., could list as early as the first quarter of 2021, said the people, who asked not to be identified because the information is private. Morgan Stanley is also advising on the listing, the people said.
Bumble could seek a valuation of $6 billion to $8 billion in an IPO, Bloomberg News has reported.
Representatives for Bumble, Blackstone, Goldman Sachs, Citigroup and Morgan Stanley declined to comment.
The Bumble app was started in 2014 by Whitney Wolfe Herd, who previously co-founded the dating app Tinder.
Blackstone bought a majority stake in Bumble last year — when it was known as MagicLab. That deal valued the company at $3 billion.
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