It’s been well documented that some industries have thrived during the pandemic. Stationary workout bikes (Peloton), video conferencing, (Zoom) and hook up sites. Err, I mean, dating websites.
Add Bumble to the mix of companies that have seen their brand take off the past 10 months. Couple that with a red hot IPO market, and Bumble is making plans to go public, as they filed for a placeholder amount of $100 million for an upcoming IPO.
Bumble founder Whitney Wolfe Herd may not have found love on her website, but some might say she found something almost as good. Or better. A fortune. According to Financial Times, she received a $125 million payout following a complex reorganization of Bumble’s parent company.
With the IPO listing, it’s expected the rivalry between upstart Bumble and the more established Match Group will will get a lot more intense. Match Group owns Tinder, OKCupid and match.com. The two companies have duked it out in court over allegations of patent infringement in the past, and let’s just say there’s no love lost between the two of them.
Investment money is flowing. In 2020, companies raised almost $170 billion in IPO’s on U.S. stock exchanges.