Bumble Inc, which operates its eponymous courting app, on Monday elevated the dimensions of its much-awaited inventory market debut and is now aiming for a valuation of greater than $7 billion when it goes public.
The proprietor of the app, which is exclusive amongst courting purposes for letting ladies make the primary transfer, is lining up its preliminary public providing (IPO) at a time when the U.S. IPO market is having fun with its strongest bull run in additional than 20 years.
Corporations raised a report $168 billion by way of IPOs on inventory exchanges in 2020, in keeping with information from Dealogic.
Bumble mentioned on Monday it might look to boost as a lot as $1.eight billion, after upsizing its share sale to 45 million shares at $39 apiece on the higher finish of the vary. It had earlier provided 34.5 million at a value vary of $28 to $30 a share.
Austin, Texas-based Bumble had confidentially filed for an IPO late final yr. The corporate, during which Blackstone is a majority stakeholder, plans to record on the Nasdaq underneath the image “BMBL”.
Goldman Sachs and Citigroup are the lead underwriters for the providing.