REUTERS: Dating app Bumble, which is backed by private equity firm Blackstone, on Friday made public its regulatory filing for an initial public offering, revealing steady revenue growth and higher operating costs that resulted in a loss.
Bumble also revealed it had identified a material weakness in its internal controls over financial reporting. Bumble said it was taking steps to rectify the issue, and will look to hire an external adviser and strengthen its compliance and accounting functions with new hires.The dating app, which has been immensely popular with millennials and competes with other apps such as Match Group's Tinder, said it had 42 million monthly active users as of the third quarter of 2020, and 2.4 million paying users in the nine months ended September.
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