Bumble reportedly filed confidentially for an IPO
Today Bumble, a popular dating-focused startup, was reported by Bloomberg to have filed IPO documents, albeit privately.
The news that Bumble is pursuing an IPO is not a surprise. TechCrunch covered the story in September, noting the huge revenues that its rival Tinder has managed to accrete, possibly indicative of a sufficiently large market to support two public dating players.
That Bumble has privately filed puts it, along with the crypto-focused Coinbase, as far along the IPO path before we can see their numbers. When they make their S-1 filings public the two companies will provide the market a look into their financial results.
Bumble and Coinbase are preceded in making such disclosures by Roblox, Affirm and Poshmark. The five companies will join others in seeking IPOs over the next few months.
According to a recent interview with GGV's Hans Tung - an investor in Affirm and Airbnb and other unicorns - TechCrunch understands that quarters one, three and four in 2021 could prove to be active IPO periods. Bumble joining the fray in the final weeks of 2020 underscores how active the start of the year could be for highly priced private companies seeking liquidity while public markets trade near all-time highs.
TechCrunch reached out to Bumble for comment on the IPO report. The company declined to comment.
Bloomberg reports that Bumble could target a valuation of between $6 and $8 billion. This squares with prior reporting. How much revenue the market will require of Bumble to reach those prices, and at what pace of growth, is not clear.
But with the company reaching 100 million users earlier this year, perhaps all the math will pencil out.