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US stocks: Bumble shares surge 52% on reports of $1 billion privatisation talks
Source: Economic Times · 10 hr ago
Summary
Bumble is in advanced talks to be bought privately by Ithaca Holdings, with the deal valuing the company at about $1 billion. After the acquisition discussions were disclosed, Bumble’s share price jumped roughly 52%. The company has been dealing with a falling market value and competition that is causing younger users to drift away.
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From the original report
Bumble is reportedly in advanced negotiations for a private acquisition by Ithaca Holdings, which values the company at approximately $1 billion. This potential acquisition follows a decline in Bumble's market valuation, which was around $389 million recently. Shares of Bumble saw a significant increase, which rose nearly 52% after the acquisition discussions became public.
Excerpt from Economic Times.
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