Whitney Wolfe Herd Opens Nasdaq Market as Bumble Raises $2.2 Billion in IPO

Written by Dominic Whitlock

Whitney Wolfe Herd virtually rang the Nasdaq market’s opening bell as Bumble officially became a publicly traded company.

At a socially-distanced ceremony at Bumble’s Austin headquarters, the CEO and founder addressed the world to mark the significant milestone. At 9:30am ET, Wolfe Herd opened the exchange while holding her one-year-old son and surrounded by monitors showing employees celebrating from home.

The IPO on Wednesday quickly exceeded expectations as Wall Street was set to welcome the online dating company with open arms.

Over 45 million shares were sold to new investors at $43 apiece, meaning Bumble entered with a market valuation of $8.2 billion. It had been gradually increasing its target over the past couple of weeks and just a few days ago the aim was to raise $1.8 billion with shares costing approximately $38.

However, positions were clearly in hot demand and the Bumble team should certainly be pleased with the $2.2 billion they ended up receiving.

Today, @Bumble becomes a public company. This is only possible thanks to the more than 1.7 billion first moves made by brave women on our app — and the pioneering women who paved the way for us in the business world. To everyone who made today possible: Thank you. #BumbleIPO 💛🐝 pic.twitter.com/OMLNGNvECB

— Whitney Wolfe Herd (@WhitWolfeHerd) February 11, 2021

Speaking today on a live stream hosted by Nasdaq, Wolfe Herd thanked everyone who had helped to build the brand and gave a special mention to all the women who were using the app to take control of their lives. Over 1.7 billion ‘first moves’ have been made since its inception.

She said: “We look forward to building a future of love, friendship, networking and community, as we chip away at archaic gender dynamics and make the internet a kinder and more accountable place.

“I want to thank the remarkable women who paved the way for Bumble in the public markets. By supporting and championing each other, we can break down barriers for the next generation of women and other marginalised communities.”

Read more here.

Leave a Reply

Your email address will not be published. Required fields are marked *