Bumble’s $2.5 Billion Initial Public Offering

Simpson Thacher advised Bumble Inc., while Davis Polk advised the representatives of the several underwriters in the offering. Davis Polk also advised Bumble’s CEO and founder, Whitney Wolfe Herd.Bumble Inc. executed the $2.5 billion initial public offering of 57,500,000 shares of Class A common stock, which included 7,500,000 shares from the full exercise of the underwriters’ over-allotment option to purchase additional shares. Bumble is traded on the Nasdaq Global Select Market under the trading symbol “BMBL.”

Goldman Sachs & Co. LLC and Citigroup served as joint lead book-running managers and as representatives of the underwriters for the offering. Morgan Stanley and J.P. Morgan acted as joint book-running managers for the offering. Jefferies, RBC Capital Markets and Evercore ISI acted as joint book-runners for the offering. Blackstone Capital Markets, BMO Capital Markets, Cowen, Raymond James, Stifel, BTIG, Nomura, SMBC Nikko, AmeriVet Securities, C.L. King & Associates, Drexel Hamilton, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc., Siebert Williams Shank and Telsey Advisory Group acted as co-managers for the offering.

Bumble Inc. is the parent company of Badoo and Bumble, two of the world’s highest-grossing dating apps with millions of users worldwide. The Bumble platform enables people to connect and build equitable and healthy relationships. Founded by CEO Whitney Wolfe Herd in 2014, the Bumble app is one of the first dating apps built with women at the center, and the Badoo app, which was founded in 2006, is one of the pioneers of web and mobile dating products. Bumble currently employs over 600 people in offices in Austin, Barcelona, London and Moscow. Bumble is a portfolio company of The Blackstone Group Inc.

The Davis Polk capital markets team included partners Byron B. Rooney (Picture) and Roshni Banker Cariello and associates Ariel Rivera and Caroline G. Armstrong. The intellectual property and technology transactions team included partner Frank J. Azzopardi, counsel Bonnie Chen and associate S. Dream Montgomery. The tax team included partner Patrick E. Sigmon and associate Elina Khodorkovsky. Counsel Marcie A. Goldstein provided FINRA advice.

Davis Polk advised Bumble’s CEO and founder, Whitney Wolfe Herd, with partners Evan Rosen and Shane Tintle and associate Sharanjit Kaur Sandhu. The executive compensation team included partner Jeffrey P. Crandall and associate Charlotte R. Fabiani. The tax team included partner David H. Schnabel and associate Aliza Slansky. The finance team included partner Hilary Dengel and counsel Jonathan B. Brown.

Simpson Thacher advised Bumble Inc. with Joshua Ford Bonnie, Edgar Lewandowski, William Golden, Katharine Thompson, Claire DiMario, Drake Carden, Evan Hunt and Samantha Sergent (Capital Markets); Anthony Vernace, Mark Myott, Mark Underwood, Kira Shannahan and Estell Lee (M&A); Bradley Goldberg, Amanda Weiss and James Rapp (Public Company Advisory Practice); Gregory Grogan, Caitlin Lucey and Emily Manns (Executive Compensation and Employee Benefits); Andrew Purcell, Sophie Staples, Caroline Phillips and Stefan Golubovic (Tax); Melanie Jolson and Kate Mirino (Intellectual Property); Krista McManus (Real Estate); Alden Millard and Adam Moss (Credit); and Jennie Getsin (FINRA).

Involved fees earner: Caroline Armstrong – Davis Polk & Wardwell; Frank Azzopardi – Davis Polk & Wardwell; Roshni Banker Cariello – Davis Polk & Wardwell; Jonathan Brown – Davis Polk & Wardwell; Bonnie Chen – Davis Polk & Wardwell; Jeffrey Crandall – Davis Polk & Wardwell; Hilary Dengel – Davis Polk & Wardwell; Charlotte Fabiani – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Elina Khodorkovsky – Davis Polk & Wardwell; S. Dream Montgomery – Davis Polk & Wardwell; Ariel Rivera – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Evan Rosen – Davis Polk & Wardwell; Sharanjit Kaur Sandhu – Davis Polk & Wardwell; David Schnabel – Davis Polk & Wardwell; Patrick Sigmon – Davis Polk & Wardwell; Aliza Slansky – Davis Polk & Wardwell; Shane Tintle – Davis Polk & Wardwell; Drake Carden – Simpson Thacher & Bartlett; Claire DiMario – Simpson Thacher & Bartlett; Jung Eun Lee – Simpson Thacher & Bartlett; Joshua Ford Bonnie – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Bradley Goldberg – Simpson Thacher & Bartlett; William Golden – Simpson Thacher & Bartlett; Stefan Golubovic – Simpson Thacher & Bartlett; Gregory Grogan – Simpson Thacher & Bartlett; Evan Hunt – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Edgar Lewandowski – Simpson Thacher & Bartlett; Caitlin Lucey – Simpson Thacher & Bartlett; Emily Manns – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; J. Alden Millard – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Adam Moss – Simpson Thacher & Bartlett; Mark Myott – Simpson Thacher & Bartlett; Caroline Phillips – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett; James Rapp – Simpson Thacher & Bartlett; Samantha Sergent – Simpson Thacher & Bartlett; Kira Shannahan – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Katharine Thompson – Simpson Thacher & Bartlett; Mark Underwood – Simpson Thacher & Bartlett; Anthony Vernace – Simpson Thacher & Bartlett; Amanda Weiss – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Simpson Thacher & Bartlett;

Clients: Bumble; Citigroup Global Markets Ltd; Goldman Sachs & Co.; Whitney Wolfe Herd;

Author: Martina Bellini