Bumble shares close up 63.5% after stock market debut

February 12, 2021 Amber28 US 0

FILE - Pedestrians pass the New York Stock Exchange, Wednesday, Jan. 27, 2021, in New York. Stocks edged higher on Wall Street in early trading Thursday, Feb. 11, as investors continued digesting solid corporate earnings reports and maintained confidence that a new round of government aid is on the horizon. (AP Photo/John Minchillo, File)

FILE – Pedestrians pass the New York Stock Exchange, Wednesday, Jan. 27, 2021, in New York. (AP Photo/John Minchillo, File)

OAN Newsroom
UPDATED 10:22 AM PT – Friday, February 12, 2021

The company behind dating app Bumble makes waves during its Wall Street debut. The company’s Thursday IPO soared from it’s initial $43 per share to just over $70 resulting in a total valuation of about $13 billion.

The company raked in $376 million in revenue in the first nine months of 2020. Founder and CEO Whitney Wolfe Herd said Bumble helped bring people together during a time where the world felt very apart.

“The world has undergone one of its most difficult and isolating times in modern history, but what has emerged from this year is a renewed sense of the importance of our relationships universally across cultures, ages and languages,” stated Wolfe Herd. “We were not made to be alone.”

“I want to thank the remarkable women who paved the way for @Bumble in the public markets.”

📍 From Austin, TX, Bumble CEO & Founder @WhitWolfeHerd rings the @Nasdaq Opening Bell in celebration of #BumbleIPO. pic.twitter.com/LN4iJuBJqy

— Nasdaq (@Nasdaq) February 11, 2021

Bumble carved out a niche in an over-saturated dating app scene by only allowing female users to initiate a conversation after matching with a partner.