Successful market debut for Bumble

By: Miguel A. Rodriguez

18:30, 17 February 2021

1613138245.png
Bumble soared in public debut

A successful day for Bumble on its first day as a publicly traded company. One of Tinder’s main competitors started trading yesterday on the NASDAQ, under the symbol BMBL.

The stock began the trading session at $76 per share, almost 77% higher than its highest target price of $39. It sold 50 million shares, and its market cap reached nearly $7.7 billion.

According to the statement given by its founder, Wolfe Herd, Bumble is focusing on “converting more of its user base to those paid customers by reinvesting in future monetization features and product offering.” The company generates revenue when customers buy premium subscriptions, which starts at $17.99 per week.

Bumble stock closed 63.5% higher, at $70.31.

Source: investors.com

Share this article

The information presented herein is prepared by CAPEX.com/eu and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation.Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.