Dating app Bumble, which is backed by private equity firm Blackstone Group, on Friday made public its regulatory filing for an initial public offering, revealing steady revenue growth and higher operating costs that resulted in a loss. Bumble Inc’s plans to go public come at a time when companies are seeking to capitalize on what has been the strongest IPO market in two decades. “The deficiency we identified relates to a lack of defined processes and controls over information technology,” it said in the filing. It reported revenue of $362.6 million for the first nine months of 2019. Bumble filed for an IPO of up to $100 million, although that is a placeholder amount and is expected to change.
Source: Standard Digital January 15, 2021 18:33 UTC