Dating app Bumble raises the size of its IPO offering to 45 million shares, now expects to raise $1.8 billion
Dating appBumble increased its IPOsize 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
Bumbleis targeting a valuation of more than $7 billion when it goes public.
Bumble raised the size of its
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.
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.
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