Bumble $2.5 billion IPO
Davis Polk advised the representatives of the several underwriters in connection with the $2.5 billion initial public offering of 57,500,000 shares of Class A common stock of Bumble Inc., which included 7,500,000 shares from the full exercise of the underwriters’ over-allotment 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 Badoo and Bumble, 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 600 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 partners Byron B. Rooney and Roshni Banker Cariello and associates Ariel Rivera and Caroline G. Armstrong. The intellectual property and technology transactions team included partner Frank J. Azzopardi, counsel Bonnie Chen and associate S. Dream Montgomery. 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.