Bumble formally files for IPO, sees strong online dating industry growth prospects

Jan. 15, 2021 1:45 PM ETBMBL, SOCL, MTCHBy: Khyathi Dalal, SA News Editor3 Comments
  • Bumble (BMBL) made its IPO public through S-1 wherein it indicated 42M monthly active users (MAUs) in Q3 with 1.7B first moves; YTD Sep. 20 paying users stood at 2.4M across 160+ countries.
  • IPO terms, size and other details have not yet been disclosed.
  • Quick look at its timeline:

  • As of August 2020, Bumble and Badoo are two of the highest grossing online dating mobile applications globally as per Sensor Tower.
  • The company generated $488.9M (+35.8% Y/Y) revenue for the year ended Dec.31, 2019; $376.6M and $40M of revenue in the period from Jan. 29, 2020 to Sep. 30, 2020 and in the period from Jan. 1, 2020 to Jan. 28, 2020, respectively.
  • Net earnings stood at $85.8M vs. a net loss of $23.7M in prior year; adj. EBITDA increased to $101.8M from $65.8M.
  • Net cash provided by operating activities expanded 41.2% to $101.4M; free cash flow conversion stood at 90.1%.
  • Key operating metrics:

  • As per a PNAS study, online dating is the most rising trend with ~40% of new couples met online:

  • OC&C estimates that North America is the largest online dating market with ~44M MAUs of online dating representing an online dating market of ~$2B as of 2020; North American online dating market is projected to grow ~11% annually.
  • Statista indicates number of online dating users in U.S. from 2017-2024; in 2019, ~30.4M U.S. users accessed online dating services while users are projected to reach 35.4M in 2024.

  • App Annie's 2020 State of Mobile Report, consumers spent $2.2B in dating apps in 2019 — double the amount spent in dating apps 2 years prior; Tinder dominated the ranks by consumer spend while Bumble occupied the second position.
  • Last month, Bumble had confidentially filed for a 2021 IPO with up to $8B in valuation.
  • ETF Watch: (NASDAQ:SOCL); Sector Watch: (NASDAQ:MTCH)

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