Following Report of Dating Firm's $1 Billion Purchase Talks, Bumble Shares Rise

The jump lifted Bumble's market value above $580 million, though it remains far below its peak of over $14 billion.

Shares in dating app company Bumble surged almost 50% on Monday after a report that it was in advanced talks to buy for around $1bn (£757m).

Ithaca Technology Holdings could announce a deal to buy the Texas-based company as early as this week, according to the Wall Street Journal.

The jump in Bumble's stock pushed its market capitalization to more than $580 million, but that's still far short of the $14 billion-plus peak it reached after its 2021 Nasdaq IPO.

Bumble is one of the most popular dating apps in the world, operating in a crowded and slow-growing market. The BBC has contacted Bumble and Ithaca for comment.

Bumble was launched in 2014 by Whitney Wolfhard, who also co-founded dating app giant Tinder.

Wolf Herd built the Bumble brand around a distinctive feature that only allowed women to start a conversation with a match.

It recently abandoned this rule, sparking debate among users as to whether the app has lost what sets it apart from its competitors.

"Today, our society demands more flexibility, less pressure and more opportunities to make real and meaningful connections, and that's what this new experience provides," Wolf Herd said in August.

Dating apps like Bumble have come under fire in recent years as some younger users have grown frustrated with browsing dates.

Bumble said it will cut almost a third of its workforce by 2025 as the industry grapples with what Wolf Herd describes as a "tipping point" in online dating.

Investments in other dating companies have also declined as apps struggle to convince users to pay for their services.

Match Group — which owns apps including Tinder, OkCupid and Hinge — has also seen its stock fall sharply from its peak in 2021.

According to a report by media watchdog Ofcom in 2025, adults in the UK will spend less time on dating apps compared to three years ago.

Some singles instead turn to board game gatherings, book clubs, and other group activities in hopes of finding a life partner.