Ithaca buys Bumble, cofounder Ravi Gupta will use frontier AI to find you dates

Bumble has been acquired by US tech holding company Ithaca $1.3 billion. The new owners say that they are investing in the dating app as a bet for humanity's future with a focus on bringing AI to the platform.

In Short

• Bumble sold for $1.3 billion to Ithaca Holdings
• New owners say investment is a bet on future of humanity
• Ithaca wants to bring more AI to Bumble

Bumble, the dating app which originally allowed only women to make the first move, is getting sold for $1.3 billion. The new owners, Ithaca Holdings, want to bring AI to Bumble as a way to transform how people used the app to find matches.

“Technology should work in service of our deepest source of fulfillment, human connection, and this investment is a bet on the future of humanity,” Ithaca co-founders Ravi Gupta and John Hegeman said in a filing with the US Securities and Exchange Commission (SEC).

Bumble has already introduced AI tools for profiles and drafting messages. The platform has also tested an AI matchmaking assistant and explored alternatives to swiping.

“As intelligence becomes more abundant, we believe connecting with the right person and forming meaningful relationships will become even more precious,” Ithaca Holdings co-founder Ravi Gupta said on X. “And frontier technology can help more people find and build those relationships.” Though, as of now, it is unclear how new AI tools will be implemented in Bumble.

The acquisition comes at a time when Bumble has faced falling revenue and a decline in users due to changing dating habits. The platform also cut nearly a third of its workforce, or about 240 employees, in 2025.

Bumble to go private with this sale

As part of the acquisition, Bumble will go back to private ownership. avi Gupta and John Hegeman will become co-chief executives when the deal closes, while Bumble founder and current CEO Whitney Wolfe Herd will remain actively involved.

Ithaca has offered $6.05 per share, a 122.4 per cent premium to Bumble's closing price on June 24, before reports emerged that the company was exploring a sale. Its market value stood at about $582 million on Monday, well below its valuation of roughly $14 billion when it listed on Nasdaq in 2021.

Founded by Wolfe Herd in 2014, Bumble built its identity around allowing only women to initiate conversations with matches. It abandoned that rule in August. “Today, our community is asking for more flexibility, less pressure, and more opportunities to create real, meaningful connections and that is what this new experience provides,” Wolfe Herd said at the time. The company has also faced stiff competition from the likes of Tinder and Hinge, with dating apps in general facing a user decline.

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