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Bumble Set to Release 6$Billion IPO Early Next Year

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Bumble is get itself ready for an initial public offering that could come early next year, according to individuals familiar with the matter.

Bumble could seek a valuation of $6 billion to $8 billion, said among the social people, asking not become named since the matter is private. It hasn’t settled for a lineup, the social people included whilst it really is talking to banking institutions. No plans have been finalized and additionally the timing of Bumble’s IPO could change still. It would be the technology company that is latest to consider jumping into the hot IPO market, which may see listings this year from well-known brands including Airbnb Inc and Doordash Inc.

Private equity firm Blackstone Group Inc. purchased a big part stake in Bumble 12 months that is last when it absolutely was called MagicLab — in a deal that valued the ongoing company at $3 billion. Established in 2006 by Andrey Andreev, MagicLab had been mulling an IPO before that deal.

Representatives for Bumble and Blackstone declined to comment.

Key Speakers At Fortune’s Most Powerful Women Conference
Bumble CEO Whitney Wolfe Herd
The Bumble app was started in 2014 by creator Whitney Wolfe Herd, who previously co-founded Tinder, where she was an expert. She became chief officer that is administrator of family of apps being an ingredient of the cope with Blackstone.

Other investors include endeavor capital firms Accel, Bessemer Venture Partners and Greycroft. Bumble is get itself ready for an initial public offering that could come early.

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