Bumble dating app files to become a public company

The Bumble logo on a black and yellow background

The dating app, Bumble, has filed with the U.S. Securities and Exchange Commission (SEC) to become a public company where anyone will be able to shares. According to Reuters, Bumble’s decision to go public comes at a time when the IPO market is at its strongest point in two decades.

In its filing, the firm reported that during January 29 and September 30 last year, it’s revenue hit $376.6 million, however, during that period the firm suffered a net loss of $84.1 million. If it continues to operate at a loss, this could hurt its share price until it explains how it will be profitable.

In the first few pages of the filing, which is lengthy, Bumble revealed that it had 42 million monthly active users on Bumble and Badoo, 2.4 million paying customers, 1.7 billion ‘First Moves’ on Bumble and 36.1 billion messages sent on Badoo in 2020 up to September. Bumble will hope that these figures encourage investors to buy its shares during a pandemic that makes dating pretty difficult.

Bumble filed for an IPO of up to $100 million but this is expected to change. Once it finally goes public its shares will be traded on the NASDAQ stock exchange under the symbol ‘BMBL’.

Via: Reuters

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