Bumble

Bumble Rejected $450m Acquisition Offer From Match Group

Bumble

Match Group tried to buy Bumble in a rejected $450m offer earlier this year, according to new reports.

The public dating leader tried to further consolidate its control of the online dating market with the proposed acquisition, but the deal was turned down by Bumble.

The approach was made around two months ago, according to Forbes sources, one of whom suggested that “the $450 million offer was seen to undervalue Bumble”.

Neither company confirmed the offer, a Match Group spokesperson saying: “We don’t comment on rumors or speculation.”

The deal would have seen Bumble join brands Tinder, Match.com, OkCupid, PlentyofFish and Meetic in the Match Group portfolio.

It would have also seen Bumble founder & CEO Whitney Wolfe being bought out by a company she sued three years ago.

Wolfe sued Tinder and Match Group over claims she was subjected to sexual harassment while working for Tinder as VP of marketing.

The suit was eventually settled out of court in September 2014.

Wolfe then announced her plans to launch a new dating app named Bumble in November, teaming up with fellow ex-Tinder employee Christopher Gulczynski.

Although Badoo’s Andrey Andreev was known to be involved in the dating app, having convinced Wolfe to rejoin the dating space after the lawsuit, it wasn’t until March 2016 that it was revealed that Badoo owned 79% of the dating product, Wolfe 20%.

Compared to recent dating acquisitions, Match Group’s reported offer would have valued Bumble below Plenty of Fish, which the company bought for $575m in July 2015.

Read more about this acquisition here.