Dating App Bumble Raises $2.2B In Upsized IPO, Shares To Start Trading Today

CEO Whitney Wolfe Herd led Bumble Inc. (NASDAQ: BMBL) priced 50 million shares at $43 per share to raise $2.2 billion in its upsized initial public offering (IPO).
Bumble is the parent company of dating apps Badoo and Bumble.
The IPO was upsized twice from the initial price range of $28 and $30 per share to $37 and $39, TechCrunch reports.
The underwriters have a 30-day option to procure additional shares of up to 7.5 million, and the shares are likely to commence trading under the symbol "BMBL" on the Nasdaq from today.
Bumble intends to use $387 million out of the IPO proceeds towards debt repayment, general corporate purposes, offering expenses.
The rest of the proceeds would be dedicated towards the purchase or redemption of outstanding equity interests from certain Blackstone affiliated entities.
The offering is estimated to close on February 16, 2021.
Global venture funding for companies led by females slipped 27% in 2020 despite a 13% growth in overall venture funding, CNBC reports.
Women formed only 13% of all venture capital decision-makers in 2020. Just about 11% of fund managers were women.
More diversity in venture funding could be the key to reducing the gap as equal entrepreneurial participation can inject $5 trillion into the global economy.
Bumble's rival app Tinder's parent Match Group, Inc MTCH stock has grown 48% in the last six months.
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