Bumble files for IPO, seeks Nasdaq listing
Dating app Bumble has filed to go public. Yahoo Finance's Zack Guzman and Akiko Fujita discuss.
Video Transcript
ZACK GUZMAN: I want to shift over to an alert we got here just moments ago. The dating app and startup-- I suppose, beyond the startup stage by far now and also not just a dating app, the connection company, shall we say-- Bumble filing its S-1 here, seeking to list as a public company on the NASDAQ, here.
And Akiko, just some numbers to run through on their S-1, Bumble reporting third quarter of 2020 monthly active users at 42 million. That total there also seeing a September 2020 year-to-date paying users at 2.4 million. When we think about the size and scope of this and the reaction in the dating giant community here, Match Group shares moving higher on the news here, as well. But interesting because this is going to be one of those closely watched shall we say, IPOs in a year that's been already a hot start to the public market.
AKIKO FUJITA: Yeah, no question about that. Of course, Zack, I always defer to you on any intel on some of these dating apps, as somebody who is no longer in the market. But it is a very competitive space. You're pretty active. How do you think Bumble sort of itself among the other dating apps?
ZACK GUZMAN: I don't know how active I am these days anymore, Akiko. But yeah, so I mean, when you think about this coming out now, obviously, Hinge, a company in Match Group's portfolio of dating apps, Bumble has gone a different way in really building out not just the dating part of Bumble, but also the BFFs, as well as the business connections here. So that's why I kind of stress, not just a dating company but also just largely a connections company here, operating in more than 150 countries.
As we dig through more on this S-1, I think it's going to be interesting to kind of tease out some of the issues that investors might have here, when it comes to profitability and the question of how many people are paying. Obviously, Bumble makes its name-- and let's not forget, kind of known-- as that dating app where women make the first move, at least on the dating side. That's really what stood them apart from the Hinges and the Tinders of the world. But a lot to dig into on this S-1 here, of course, just coming out a short moment ago here. A very interesting story that I, a senior dating correspondent, Akiko, will dig more into you, as we approach that listing.
