4 Reasons To Buy Bumble After Its Recent IPO

Initial public offerings are always a significant event in the stock market. On February 11, with backing from Blackstone Group, Bumble Inc (BMBL - Get Rating) priced its IPO of 50 million shares at $43, raising $2.2 billion. Bumble is a dating app with a twist.

The timing could not have been more perfect for the IPO. The stock market is at record highs, technology stocks continue to soar, and social media platforms are raking in profits from subscriptions and advertising. Bumble Inc. owns Bumble and Badoo, a dating-based social network. According to pre-IPO filings, Bumble and Badoo posted $489 million in revenue and $85.8 million in profits in 2019. Like many other technology and social media companies, the worldwide pandemic boosted business in 2020.

The company’s founder and CEO Whitney Wolfe Herd recently said, “We’re profitable because of our commitment to engineering and authentic and genuine experience. Nobody, not in the physical world nor in the digital world, had ever built a technology platform or brand fully centered around women’s wants and needs. We identified this massive white space, and it has proven to be an incredible business model. This just proves that passion, purpose, and profit can coexist.”

A dating stock with a twist

Bumble Inc operates online dating and social networking platforms. The company provides subscription and credit-based dating products in North America, Europe, and other countries. The platform connects people and builds relationships across various life areas, including love, friendships, careers, and beyond. Bumble incorporated in 2020. The headquarters are in Austin, Texas.

Bumble has lots of competition. The Match Group (MTCH), which owns Match.com, Tinder, Meetic, OkCupid, PlentyOfFish, Ship, OurTime, and a total of over forty-five global dating companies that are other social media dating sites. However, Bumble.com is the first to have women talk first to set an “equal tone from the start.” Women make the first move on Bumble.

1 2 3
View single page >> |

Disclaimer: Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.