Friday, 12 Feb 2021 09:39 AM MYT
The display outside the Nasdaq MarketSite is pictured as the dating app operator Bumble Inc made its debut on the Nasdaq stock exchange during the company's IPO in New York February 11, 2021. — Reuters pic
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NEW YORK, Feb 12 — Shares of Bumble Inc, backed by Blackstone Group Inc, soared more than 76 per cent in their stock market debut yesterday, fetching a US$14 billion (RM56.5 billion) valuation for the operator of the dating app where women make the first move.
The company’s shares opened at US$76 on the Nasdaq, well above its initial public offering (IPO) price of US$43 per share. Austin, Texas-based Bumble operates two major apps, Bumble and Badoo, which touts over 40 million monthly active users worldwide.