Tue, 21, May, 2024, 6:10 pm

Bumble: Female-founded dating app tops $13bn in market debut

Bumble: Female-founded dating app tops $13bn in market debut

Shawdesh desk:

No bumbling here: Dating app Bumble, which made its name by putting women in charge of making contact with potential mates, has soared to a market value of more than $13bn after listing shares.

Its Wall Street success made 31-year-old boss Whitney Wolfe Herd a rare self-made female billionaire.

Bumble, which also owns Badoo, is one of less than two dozen US firms to list publicly while led by a female founder.

 

Shares in the firm debuted at $43 apiece, valuing it at over $8bn.

But in opening trade on Thursday they shot up to more than $76 each, making the firm worth more than $13bn (£9.4bn).

‘Make the first move’

Ms Wolfe Herd launched Bumble in Texas in 2014, with backing from Russian billionaire Andreey Andreev, the founder of European online dating site Badoo.

(BBC)

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