Bumble’s IPO Reveals Steady Growth, Losses

The dating app Bumble's IPO reveals steady growth, as well as losses. Due to high operating costs, the company is running at a loss. Bumble Inc, which Blackstone Group backs, plans to go public at a time when companies are trying to capitalize on the strongest IPO market in 20 years.

According to Dealogic Data, companies raised $168 billion through IPOs in 2020. Also, Bumble plans to rectify the weakness in their financial reporting. The app is popular with millennials and competes with other dating apps like Tinder. During the third quarter of 2020, Bumble said it had 42 million active monthly users. On top of that, 2.4 million of those users paid for the nine months ending in September.

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