Dating app Bumble raises the size of its IPO offering to 45 million shares, now expects to raise $1.8 billion
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- Dating app Bumble increased its IPO size to $1.8 billion on Monday, according to a regulatory filing.
- The company will now offer 45 million shares priced at between $37 to $39 per share.
- The upsized offering means Bumble is targeting a valuation of more than $7 billion when it goes public.
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Bumble raised the size of its stock market offering from 34.5 million shares to 45 million shares, according to an updated S-1 filing on Monday.
Its upsized offering means Bumble is now looking to raise $1.8 billion via its market debut, and targeting a valuation of $7 billion.
Priced at between $37 to $39 per share, the company said it plans to list its shares on the NASDAQ under the ticker symbol “BMBL.” The IPO was previously priced at between $28 to $30 per share.
According to the filing, Bumble has 42 million monthly average users and 2.4 million paying users.
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The 7-year-old dating company publicly filed for an initial public offering with the Securities and Exchange Commission last month. It is distinctively known for allowing women to make the first move within 24 hours of a match.
Goldman Sachs, Citigroup, Morgan Stanley, JPMorgan, Jefferies, RBC Capital, and Evercore ISI are the underwriters on the IPO.
A growing list of startups plan on going public in 2021, including Poshmark, Affirm, and Robinhood.
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