Blackstone-backed dating app Bumble raises $2.2 billion in U.S. IPO

The IPO gave the Austin, Texas-based company a market capitalization of more than $7 billion. Bumble sold 50 million shares after raising its share offering several times, previously aiming to sell 45 million shares at a target price range $37-$39.

Some dating apps like Bumble have flourished even under COVID-19-related social distancing, as people who stay at home turn to instant messaging to seek romance.

Bumble, which also owns the Badoo dating app, said it expects to record up to $541.5 million in revenue between January and December 2020, up 11% from the prior year driven by growth in paying customers.

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