Bumble, the popular and profitable dating and networking app built around the ethos of women calling the shots on how connections get made and developed, has made a deal for some independence of its own.
Andrey Andreev, the founder of Badoo, the controversial London-based company that owns a series of dating apps and was the main backer and builder of Bumble, is selling his entire stake in MagicLab, the company that owned both Bumble and Badoo (and other dating apps), to Blackstone and will step away from the business. Whitney Wolfe Herd, Bumble’s founder, becomes become the CEO of the whole company, retaining much of her stake in the business in the process. We understand that stake is at about 19%.
The deal values Bumble