Bumble Owner Targets Nasdaq IPO To Become World's Top Matchmaker

BLOOMBERG - Oct 11 - The group behind Bumble is weighing an IPO in the U.S. as part of its plan to become the world's biggest dating business, according to founder Andrey Andreev. "We're now in very deep discussions with banks," including JPMorgan Chase & Co., Andreev said. Andreev, 44, is the majority shareholder of Bumble owner Rimberg International Corp., a holding company that also controls gay-dating app Chappy and London-based Badoo. Andreev, who founded Badoo in 2006, hopes the IPO will help his firm overtake Match Group. Andreev said revenue may be as much as $400M this year, which is less than a third of Match's $1.33B last year. Bumble would be the "umbrella brand" for any IPO, which won't happen before year-end, he said. Badoo invested $10M to help Wolfe Herd start Bumble, giving Andreev's group a stake of ~75%. Today, Bumble has 41M users, more than double from a year ago. "Bumble is going crazy," Andreev said. "Bumble is already in Germany, and it's growing at 500% a month there."