Bumble, the dating app company founded by Whitney Wolfe Herd, is in advanced discussions to be taken private in a deal valued at approximately $1 billion, according to individuals familiar with the matter. The prospective buyer is Ithaca Holdings, a recently established investment firm led by Silicon Valley executives Ravi Gupta and John Hegeman.
The transaction would mark one of Ithaca’s initial major moves, with the firm aiming to leverage cutting-edge technologies, including artificial intelligence, across its investments. Bumble’s market capitalization stood near $335 million as of the most recent trading session, reflecting a decline of more than 90% since its 2021 initial public offering, when its valuation peaked above $14 billion.
Wolfe Herd, who founded Bumble in 2014 after co-founding Match Group’s Tinder, is anticipated to retain at least part of her ownership stake and continue an active role within the company following the potential deal, sources said. Early investment in Bumble was led by private-equity firm Blackstone, which acquired a majority stake in 2019. While Blackstone reduced its holdings after the IPO, it still maintains an approximately 14% interest.
The deal could be finalized as soon as this week if ongoing negotiations proceed without disruption.
Bumble distinguished itself from other dating platforms by introducing a women-first approach, requiring women to initiate conversations, a model that attracted considerable attention. However, Bumble and its competitors have faced challenges in attracting younger users, many of whom have shown declining interest in traditional online dating services.
After Wolfe Herd resumed the CEO role in 2025, the company implemented significant cost-cutting measures, including laying off nearly 30% of its workforce. At the same time, Bumble’s revenue, along with that of its other app Badoo, has decreased. The company has been focusing on incorporating more artificial intelligence into its offerings and announced in August the removal of its defining women-first messaging feature.
In contrast, Match Group, a major player in the online dating market, reported steady revenue from its flagship Tinder app in the second quarter, buoyed by growth from its other dating app, Hinge.
Ithaca Holdings emphasizes on its website a mission to employ frontier technologies to create products that “meaningfully improve people’s lives.” Gupta, one of Ithaca’s co-founders, is currently a partner at venture-capital firm Sequoia Capital and formerly served as chief financial officer at Instacart. Hegeman, the other co-founder, is a former Meta executive who most recently held the position of chief revenue officer.