Bumble dating app to go private in $1.3 billion deal

(CNN)– Dating app Bumble is going private in a $1.3 billion deal.

Monday, October 12, the company announced it will be acquired by Ithaca Holdings for $6.05 per share.

That’s a 138% premium over Friday’s closing share price.

The deal marks a sharp turn for Bumble.

When it went public in 2021, it was valued at $14 billion.

The company has struggled with declining users as younger people grow tired of online dating.

Bumble recently introduced an Ai matchmaking assistant and dropped its original women-first messaging requirement.