Austin-based dating app Bumble Inc. is being acquired by an investment firm in a $1.3 billion deal that will take the company private.

Bumble is breaking up with the Nasdaq. According to a report from Reuters, the floundering dating app has accepted a $1.3 billion bid from Ithaca Holdings to go private, taking the company off the market as it and its many rivals struggle to figure out how to get Gen Zers and Gen Alpha to care about dating again.

Bumble to go private in a USD 1.3 billion acquisition by Ithaca Holdings. The deal will bring new leadership as the dating app faces declining revenue and users

Bumble surged nearly 50% in a single session on a report that the dating app could go private at a fraction of its 2021 launch valuation, but the deal structure leaves shareholders guessing whether they stand to gain anything at all.

Bumble Inc. (NASDAQ:BMBL) has agreed to be acquired by Ithaca Holdings in a $1.3 billion transaction, offering shareholders a substantial premium and setting the dating platform o

Bumble's growth has stagnated in recent years as younger people have moved away from online dating platforms. The company's revenue fell 15.2% year over year to $210.5 million in the second quarter, driven by a 16.4% decline in total paying users to 3.2 million.

Bumble entered into a definitive agreement to be acquired by Ithaca Holdings in an all-cash transaction valuing the company at approximately $1.3 billion.

Bumble’s revenue and paying user base have shrunk as the dating-app company agrees to a $1.3 billion deal to go private.