Bumble raised US$2.15 billion in an initial public offering, or IPO, late on Feb. 10, just in time for Valentines Day. Investors swooned over the women-go-first dating app, buying more shares and at a higher price than initially expected, valuing the company at $8.3 billion.

How much did Bumble raise IPO?

Nearly seven-years later, the company that prides itself on its female-first approach — and which soared in its opening trade on Thursday after raising $2.2 billion in an initial public offering that exceeded expectations and valued the firm at over $7 billion — has garnered a devoted following.

Who managed Bumble IPO?

Private equity firm the Blackstone Group Inc. took a majority stake in Bumbles parent company in 2019, in a transaction that valued it at $3 billion. The Bumble app was started in 2014 by Chief Executive Officer Whitney Wolfe Herd, who previously co-founded the dating app Tinder.

What happens when lock up period expires?

Following the expiration of the lock-up period, restrictions preventing a companys employees and other major shareholders from selling their stock are lifted. Lock-up expirations often coincide with a 1-3% drop in the companys stock because of the increased number of available shares in the company.