Bumble agrees to a $1.3B acquisition deal as online dating faces a reset

Bumble is getting a new owner. The dating app announced Tuesday that it has agreed to a $1.3 billion acquisition deal with Ithaca Holdings, marking a major shift for a company that once looked like one of the biggest success stories in online dating. 

The deal would take the company private after years of declining subscriber numbers, falling revenue, and mounting pressure to rethink the online dating experience. The move may give Bumble a chance to work on its next chapter away from the pressure of public markets.

Founded in 2014 by Whitney Wolfe Herd, Bumble made a name for itself for its unique approach where only women made the first move. That helped it stand out in a crowded dating market, and the company eventually went public in 2021 at a valuation of roughly $14 billion.

Since then, however, the dating app landscape has changed considerably. Bumble has faced declining paying users, weaker revenue, and growing dissatisfaction with the familiar swipe-based model. The company recently reported second-quarter 2026 revenue of $211 million, down 15.2% year over year, while its paying user base fell 16.4% to approximately 3.2 million.

The acquisition follows a review of strategic options by an independent committee of Bumble’s board, which recommended the transaction after consulting outside legal and financial advisers. Wolfe Herd did not participate in the board’s discussions or vote on the deal, according to the press release. 

“In Ithaca, we have found a partner who shares our vision, believes in our women-first mission, and is committed to investing in Bumble’s future,” Wolfe Herd said in a statement.

She also confirmed that she plans to stay actively involved in the business, working alongside Ithaca’s Ravi Gupta and John Hegeman, and the Bumble team.

Going private might give Bumble more flexibility to experiment with new features and make changes without having to answer to public-market investors every quarter. The company has been exploring AI-driven features and putting more energy into helping people connect offline, reflecting a broader shift in how younger users approach dating.

One example is Plans, announced in July, which focuses on bringing people together through real-world activities. Wolfe Herd also recently revealed that the company is developing a new way for users to interact that could eventually replace the swipe-based model.