Bumble in advanced talks to go private at ~$1B valuation with Ithaca Holdings; stock surges ~50%, biggest-ever single-session gain (Reuters, Oct 12)

What happened

Bumble Inc. is in advanced talks to be taken private by Ithaca Holdings, a holding company for technology businesses founded by Silicon Valley executives Ravi Gupta and John Hegeman, in a deal valuing the dating app operator at roughly $1 billion, according to a source familiar with the matter who spoke to Reuters on Monday. Shares of the Austin, Texas-based company, which had a market value of only about $389 million at Friday's close, closed roughly 50% higher at $3.80 — the stock's biggest-ever percentage gain in a single session. Neither Bumble nor Ithaca responded to Reuters' requests for comment.

Who’s affected

• BMBL (+~50% Monday, $3.80 close) — direct target of the take-private talks
• MTCH (Match Group) — sector read-through; takeout valuation could re-rate the dating-app peer and renew takeout speculation across the space

Sources

krro.comwncy.com