Dating app Bumble sold for $1.3 billion after massive drop in paying users

Dating app Bumble has agreed to be acquired for $1.3 billion, marking a dramatic fall in value for the company that was worth $14 billion at its peak. Bumble announced on October 13 that it had agreed to be acquired by technology investment firm Ithaca Holdings, which will pay shareholders $6.05 per share in cash. Bumble founder to step down as CEO after takeover Founded in 2014 by Whitney Wolfe Herd, who previously co-founded Tinder, Bumble's unique draw, until earlier this year, was allowing women to make the first move when connecting with potential matches.