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Another source reveals that Bumble filed for an offering with a size of up to $100 million. However, it is said that this could be a placeholder.
Dating platform Bumble Inc has finally filed for an IPO to go public after its plan to execute this decision hit the internet in December 2020. According to a report, they plan on launching their IPO with BMBL as their ticker symbol and Nasdaq Stock Exchange as the possible listing destination.
Another source reveals that Bumble filed for an offering with a size of up to $100 million. However, it is said that this could be a placeholder. Interestingly, Bumble may probably seek a valuation of up to $8 billion. The paperwork was signed with the US Securities and Exchange Commission in 2020 according to reports, and the company plans on going public in February 2021.
Much details were not revealed about the filing, but reporters looked into the Bumble IPO filing from three different perspectives namely: Ownership, Usage, and financial status.
In terms of Ownership, not much was disclosed in the company’s filing as its principal shareholder section was denuded of data.
From the Usage perspective, the company has some significant figures. According to their data, they had about 42 million monthly active users as of the third quarter of 2020. According to the report, the 42 million monthly active users produced 2.4 million paying Monthly Active Users for the company. It was revealed that most companies need a lot of strength and time to close the fourth quarter of the year or the full calendar year. For this reason, they mostly go public relying on the strengths of the third quarter of the year.
In terms of the financial status, the company recorded a positive adjusted profitability in the third quarter of 2020 and modest positive numbers in the first nine months. However, there was a recorded loss on a GAAP basis. From the first three months of 2019 to the same period in 2020, its adjusted EBITDA, a non-GAAP metric, recorded a significant growth from $80 million to $108.3 million.
Assessing the first three quarters of 2020, Bumble could manage about $555.5 million In revenue in 2020. This means Bumble could be worth over the speculated $3 billion though there is another chance that the negative records in 2020 could also affect its eventual valuation.
When assessing the revenue and the net income for the nine months ending September 2019, the reporters came out with $362.6 million in revenue and $68.6 million in net income in 2019. For the same period in 2020, Bumble recorded $416.6 million in revenues and $-116.7 million in net income.
There has been a boom of IPO since the last quarter of 2020 with several startups planning to go public this year. Currently, Morgan Stanley, JPMorgan, Citigroup, and Goldman Sachs will take the lead as underwriters for the IPO.