Bumble Owner, Facing off With Tinder, Boosts Spending
Posted on June 17, 2019
WALL STREET JOURNAL – June 14 – "We're looking for the big, big monsters who can partner with me", said Andrey Andreev, the Russian billionaire behind Bumble. He plans to spend $100M creating an array of new dating apps, part of an expansion and revamp of the privately held holding company that also owns Lumen, a dating app for over 50s, and gay-dating app Chappy. Last year, Match offered to acquire Mr. Andreev's group of companies, but Mr. Andreev declined, according to people familiar with the matter. The deal talks valued the umbrella group at ~$1B.
