Bumble Inc, which operates its eponymous courting app, on Monday elevated the scale 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 functions 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.
Companies raised a document $168 billion by means of IPOs on inventory exchanges in 2020, in keeping with knowledge from Dealogic.
Bumble stated on Monday it will look to lift as a lot as $1.8 billion, after upsizing its share sale to 45 million shares at $39 apiece on the higher finish of the vary. It had earlier supplied 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 firm, through 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.