Bumble shares close up 63.5% after stock market debut
UPDATED 10:22 AM PT – Friday, February 12, 2021
The company behind dating app Bumble makes waves during its Wall Street debut. The company’s Thursday IPO soared from it’s initial $43 per share to just over $70 resulting in a total valuation of about $13 billion.
The company raked in $376 million in revenue in the first nine months of 2020. Founder and CEO Whitney Wolfe Herd said Bumble helped bring people together during a time where the world felt very apart.
“The world has undergone one of its most difficult and isolating times in modern history, but what has emerged from this year is a renewed sense of the importance of our relationships universally across cultures, ages and languages,” stated Wolfe Herd. “We were not made to be alone.”
“I want to thank the remarkable women who paved the way for @Bumble in the public markets.”
— Nasdaq (@Nasdaq) February 11, 2021
Bumble carved out a niche in an over-saturated dating app scene by only allowing female users to initiate a conversation after matching with a partner.