TECH CRUNCH - Nov 9 - Andrey Andreev, the founder of Badoo, is selling his entire stake in MagicLab, the company that owned both Bumble and Badoo (and other dating apps), to Blackstone, which is one of the world's leading investment firms. He will step away from the business in the process, and Wolfe Herd, Bumble's founder, becomes the CEO of the whole company, retaining much of her stake in the business. That stake is at ~19%. The deal values MagicLab at $3B. Blackstone also will be making an investment in the company as part of the deal.
by Ingrid Lunden
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