Bumble Buyout: $1.3 Billion Deal Highlights Dating App Decline

Bumble has agreed to a $1.3 billion acquisition by Ithaca Holdings, taking the dating app private as it attempts to reverse declining revenue, falling subscriber numbers and growing dissatisfaction with swipe-based dating. The deal marks a turning point for a company that went public in 2021 with ambitions to reshape online dating but has since struggled to sustain its growth. Under the agreement, Ithaca will pay $6.05 per share.