Bumble (BMBL) shares surged about 50% on Monday, closing at $3.78 and posting their biggest one-day percentage gain on record, according to Dow Jones Market Data. The dramatic move followed a Wall Street Journal report that the dating app company is in advanced talks to go private in a transaction that would value it at approximately $1 billion.

Technology investment firm Ithaca Holdings is the reported buyer, and a deal could be announced as early as this week, according to the Journal. A transaction at roughly that valuation would leave Bumble worth a fraction of what it was worth at its market debut — and, if completed, would end the company's run as a publicly traded stock five years after its listing. Bloomberg, citing sources, also reported the negotiations on social platform X:

Dating-app provider Bumble is in talks to be sold to upstart investment firm Ithaca for around $1 billion, according to sources

— Bloomberg (@business) October 12, 2026

The rally lifted Bumble's market value to just over $580 million. That remains far below the peak of more than $14 billion the company reached after its 2021 stock market listing. Even after Monday's surge, Bumble shares are up only 8.5% this year, and they are still down 26% over the past 12 months. It also leaves the reported $1 billion valuation well above where public markets currently price the company — a gap that implies a meaningful premium for shareholders should a transaction be completed.

Who Is Behind the Deal

Ithaca was co-founded by Ravi Gupta and John Hegeman. According to their LinkedIn profiles, Gupta served as chief financial officer of grocery delivery company Instacart from 2015 to 2019, while Hegeman was chief revenue officer of Meta Platforms from December 2024 to February 2026. That is quite a résumé for a buyer most investors had not heard of before the takeover talks emerged.

Bumble Chief Executive Whitney Wolfe Herd is expected to remain with the company. Bumble and Gupta did not immediately respond to requests for comment from Barron's. The BBC also said it had contacted Bumble and Ithaca, but no confirmation from either company was included in the reports.

A Rocky Road Since the IPO

Bumble went public in 2021 at $43 per share, giving the company a market capitalization of $7.94 billion at the time of its debut, before the shares began a prolonged slide. Its fortunes have faded amid intense competition, including from Match Group, which owns Tinder, OkCupid and Hinge and has seen its own stock fall sharply from its 2021 peak. Match Group shares rose about 1% on Monday. Dating apps have also had to contend with online dating fatigue as users grow weary of the same swiping experience.

In 2025, Bumble said it would cut nearly a third of its workforce, with Wolfe Herd describing the industry as being at an “inflection point.”

In August, Bumble changed its core rule so that all users — not just women — can send an opening message, stepping back from the women-first format on which the company, founded by Wolfe Herd in 2014, built its reputation. Wolfe Herd said users wanted “more flexibility, less pressure, and more opportunities to create real, meaningful connections.” The change sparked debate among users over whether the app had lost the distinguishing feature that set it apart. Adding to the industry's headwinds, a 2025 Ofcom report found that UK adults were spending less time on dating apps than three years earlier.

According to the Journal, Ithaca Holdings could announce a deal as early as this week. With neither Bumble nor Ithaca confirming the talks, the coming days will be watched for official confirmation — one way or the other. Bumble stock closed Monday at $3.78.