Struggling dating app Bumble has a suitor.
The company is in advanced talks to go private through a newly formed investment firm for roughly $1 billion — a fraction of the more than $14 billion it was worth following its 2021 stock market debut.
Ithaca Holdings, founded by a Sequoia Capital partner and a former Meta executive, could strike a deal as soon as this week, the Wall Street Journal reported Monday.
The negotiations could still fall apart, Bloomberg noted, citing a person familiar with the matter.
Bumble shares jumped about 50% Monday following news of the potential buyout, giving the company a market capitalization of roughly $580 million, up from $335 million at Friday’s close.
The potential buyout comes as Bumble founder Whitney Wolfe Herd struggles to revive the dating platform amid declining revenue and a shrinking base of paying users.
Wolfe Herd, who co-founded Tinder before launching Bumble in 2014, is expected to remain involved with the company and roll over at least part of her ownership stake as part of the transaction, according to the Journal.
The 37-year-old entrepreneur returned as Bumble’s chief executive in March 2025, a little more than a year after stepping down.
Bumble reported second-quarter revenue of $210.5 million, down 15.2% from a year earlier, while its number of paying users plunged 16.4% to 3.2 million.
The company posted a quarterly net loss of $127.9 million and ended June with roughly $154 million in cash.
Bumble in August abandoned its signature requirement that women initiate conversations with male matches, allowing either person to send the first message as the dating app struggled to retain paying customers.
At rival Match Group, Hinge posted a 22% jump in second-quarter revenue, even as the company’s flagship dating app Tinder struggled to regain momentum.
Bumble laid off roughly 30% of its workforce last year, just months after Wolfe Herd returned as chief executive.
Bumble was exploring a possible sale as early as June, with Morgan Stanley advising the company on strategic alternatives, Reuters reported at the time.
A September 2025 Daily Mail investigation alleged that Wolfe Herd mistreated former Tinder colleagues and was physically abusive toward an ex-boyfriend — accusations she denied — while she acknowledged having used racial and homophobic slurs in the past.
Wolfe Herd also came under fire last year from former Tinder executives who disputed her status as a co-founder of the dating app and accused her of exaggerating her contributions to its early success.
Tinder co-founder Jonathan Badeen and former communications executive Rosette Pambakian were among those who challenged her account ahead of the release of “Swiped,” a Hulu film starring Lily James as Wolfe Herd, Page Six reported in September 2025.
Her representatives have previously defended her co-founder title, while Wolfe Herd said she had no involvement in the film.
The Post has sought comment from Bumble and Ithaca.