Bumble agrees to a $1.3 billion acquisition deal as online dating faces a reset

After years of declining subscribers and declining revenue, Bumble recently agreed to a $1.3 billion acquisition.

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Bumble gets a new owner. The dating app announced Tuesday that it has agreed to a $1.3 billion acquisition deal with Ithaca Holdings, marking a major turnaround for a company that was once considered one of online dating's biggest success stories.

Founded in 2014 by Whitney Wolfe Hurd, Bumble earned its name for its unique approach where only women make the first move. This helped it stand out in the crowded dating market, and the company eventually went public in 2021 with a valuation of approximately $14 billion.

However, since then, the dating app landscape has changed significantly. Bumble has faced declining paying users, weaker revenue and growing dissatisfaction with the familiar swipe-based model. The company recently reported Q2 2026 revenue of $211 million, down 15.2% year-over-year, while its paying user base fell 16.4% to nearly 3.2 million.

The acquisition follows a review of strategic options by an independent committee of Bumble's board of directors, which recommended the transaction in consultation with outside legal and financial advisors. According to the press release, Wolf Herd did not participate in board discussions and did not vote on the contract.

"In Ithaca, we have found a partner who shares our vision, believes in our mission for women, and is committed to investing in Bumble's future," Wolf Herd said in a statement.

He also confirmed that he plans to actively participate in the business, working alongside Ravi Gupta and John Hageman of Ithaca and the Bumble team.

Going private may give Bumble more flexibility to test new features and make changes without having to answer to public market investors every quarter. The company has been exploring AI-based features and has put more energy into helping people connect offline, reflecting a broader shift in how younger users approach dating.

One example is Plans, announced in July, which focuses on bringing people together through real-world activities. Wolfe Herd also recently revealed that the company is developing a new method of user interaction that could eventually replace the swipe-based model.

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Lauren covers media, streaming, apps and platforms at TechCrunch.

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