FINANCIAL TIMES - Jan 18 - Bumble founder Whitney Wolfe Herd received a $125M payout following a complex reorganisation of the dating app's parent company, according to a regulatory filing ahead of its IPO. Bumble also loaned $119M to an entity controlled by Ms Wolfe Herd. She settled the remainder of the loan this month. The company reported 42.1M monthly active users across Badoo and Bumble at the end of Sep, of which ~2.4M were paying users. But the company's growth has slowed since Blackstone agreed to purchase a majority stake in 2019 and installed Ms Wolfe Herd as CEO. Bumble reported net losses of $117M in the first nine months of last year, a reversal from positive earnings of $69M during the same period in 2019, but a figure that the company said was affected by transaction costs. In the first nine months of 2020, Bumble reported revenues of $417M, up 14.9% YOY. The company said it would use IPO proceeds largely to pay down debt and repurchase equity interests from private shareholders.
by Miles Kruppa & Hannah Murphy
See full article at Financial Times
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