Bumble has a new owner. The dating app announced Tuesday that it has reached a $1.3 billion acquisition deal with Ithaca Holdings, marking a major shift for a company that once looked like one of the biggest success stories in online dating.
The deal would starve the company after years of declining subscriber numbers, declining revenue and growing pressure to rethink the online dating experience. The move could give Bumble a chance to work on its next chapter, away from the pressure of the public markets.
Founded in 2014 by Whitney Wolfe Herd, Bumble became known for its unique approach where only women made the first move. This helped it stand out in a crowded dating market, and the company ultimately went public in 2021 at a valuation of around $14 billion.
Since then, however, the dating app landscape has changed significantly. Bumble has faced a decline in paying users, declining revenue, and growing dissatisfaction with the familiar swipe-based model. The company recently reported second-quarter 2026 revenue of $211 million, down 15.2% year-over-year, while its paid user base fell 16.4% to around 3.2 million.
The acquisition follows a review of strategic options by an independent committee of Bumble’s board of directors, which recommended the transaction after consulting with external legal and financial advisors. Wolfe Herd did not participate in board discussions or voting on the deal, according to the press release.
“In Ithaca, we have found a partner who shares our vision, believes in our women-focused mission, and is committed to investing in the future of Bumble,” Wolfe Herd said in a statement.
She also confirmed that she plans to remain actively involved in the company, working alongside Ithaca’s Ravi Gupta and John Hegeman, as well as the Bumble team.
Going private could give Bumble more flexibility to experiment with new features and make changes without having to respond to public market investors every quarter. The company has explored AI-based features and devoted more energy to helping people connect offline, reflecting a broader shift in how younger users approach dating.
One example is Plans, announced in July, which aims to bring people together through real-world activities. Wolfe Herd also recently revealed that the company is developing a new way to interact with users that could eventually replace the swipe-based model.
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