Bumble $1.1 billion secondary offering
Davis Polk advised the representatives of the several underwriters in connection with the approximately $1.1 billion SEC-registered offering by certain selling shareholders of Bumble Inc. of 20,700,000 shares of Bumble’s Class A common stock, which included 2,700,000 shares from the full exercise of the underwriters’ option to purchase additional shares. Bumble is traded on the Nasdaq Global Select Market under the trading symbol “BMBL.”
Bumble Inc. is the parent company of Bumble and Badoo, two of the world’s highest-grossing dating apps with millions of users worldwide. The Bumble platform enables people to connect and build equitable and healthy relationships. Founded by CEO Whitney Wolfe Herd in 2014, the Bumble app is one of the first dating apps built with women at the center and the Badoo app, which was founded in 2006, is one of the pioneers of web and mobile dating products. Bumble currently employs over 800 people in offices in Austin, Barcelona, London and Moscow. Bumble is a portfolio company of The Blackstone Group Inc.
The Davis Polk capital markets team included partner Byron B. Rooney and associate Ariel Rivera. The intellectual property and technology transactions team included partner Frank J. Azzopardi, counsel Bonnie Chen and associates S. Dream Montgomery and Chelsea Renter. The tax team included partner Patrick E. Sigmon and associate Elina Khodorkovsky. Counsel Marcie A. Goldstein provided FINRA advice. All members of this Davis Polk team are based in the New York office.