The company filed paperwork on Friday for an initial public offering, potentially setting it up for a Wall Street debut at a time when dating apps have become lifelines for single people during the pandemic.The company reported generating $376.6 million in revenue between Jan. 29 and Sept. 30 of last year. During that same period, the company posted a net loss of $84.1 million.
According to its IPO paperwork, the Bumble dating empire counted 42.1 million monthly active users as of the end of September. Bumble is poised to go public on the heels of other successful tech IPOs. Airbnb and DoorDash each soared in their recent public market debuts, suggesting strong investor interest.
Investment firm Blackstone bought a majority stake in Bumble's parent company -- then called MagicLab but since renamed Bumble -- from Russian billionaire Andrey Andreev in 2019. The parent company also includes Badoo, a popular digital dating service outside the United States, founded by Andreev in 2006.
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