Ithaca Holdings
In short: Ithaca Holdings is a technology investment holding company co-founded and run by co-chief executives Ravi Gupta and John Hegeman. On 13 October 2026 it agreed to take Bumble private in an all-cash deal worth about $1.3 billion, at $6.05 a share. Gupta and Hegeman are due to become Bumble's co-CEOs when the deal closes.
Key facts
| Type | Investor |
|---|---|
| Headquarters | United States |
| Founders | Ravi Gupta, John Hegeman |
| Acquisition | Bumble Inc. agreed to a roughly $1.3 billion all-cash take-private by Ithaca Holdings at $6.05 per share, a 138 per cent premium to its 9 October 2026 closing price [Global Dating Insights, 13 October 2026] |
| Founder | Ithaca Holdings was co-founded by Ravi Gupta and John Hegeman, who are its co-chief executives [Press Association via Express & Star, 13 October 2026] |
| Fact | Ithaca Holdings is a technology investment holding company that plans to use AI and operational expertise to support the growth of established technology businesses [Global Dating Insights, 13 October 2026] |
| Role | Gupta and Hegeman will become Bumble's co-CEOs at closing; Whitney Wolfe Herd will remain involved and Bumble is expected to stay based in Austin [Dealroom, 13 October 2026] |
| Fact | Affiliates of Blackstone and Whitney Wolfe Herd approved the Bumble deal by written consent; completion remains subject to closing conditions including any required regulatory approvals [Global Dating Insights, 13 October 2026] |
| Fact | DII reported Ithaca as the acquirer in Bumble's $1.3 billion take-private [Dating Industry Insights, 13 October 2026] |
About Ithaca Holdings
Ithaca Holdings is a technology investment holding company that says it applies frontier technology to renew established businesses in a world transformed by AI. It is co-founded by Ravi Gupta and John Hegeman, who are also its co-chief executives. The Press Association describes it as a US investment firm. Its investors and financing structure have not been disclosed in the coverage reviewed.
On 13 October 2026 Bumble Inc. announced that it had agreed to be acquired by Ithaca in an all-cash take-private valued at about $1.3 billion. Shareholders are to receive $6.05 per share, a 138 per cent premium to Bumble's closing price on 9 October and a 119 per cent premium to its 30-day volume-weighted average price. An independent board committee recommended the deal and the board approved it unanimously, with founder Whitney Wolfe Herd abstaining. Affiliates of Blackstone and Wolfe Herd gave the required shareholder approval by written consent. Completion depends on closing conditions, including any required regulatory approvals.
At closing Gupta and Hegeman are to become Bumble's co-CEOs, while Wolfe Herd remains involved. Bumble is expected to stay headquartered in Austin, with offices in London and New York. DII has followed the deal through several stories, including Bumble's launch of searchable Handles a day later.
People
- John Hegeman, Co-CEO and co-founder
- Ravi Gupta, Co-CEO and co-founder
Stories about Ithaca Holdings
- Bumble shares more than double to $5.95 on Ithaca takeover
Bumble (BMBL) shares rose from $2.54 to $5.95 over 12-13 October, just under Ithaca Holdings' $6.05 cash offer valuing the company at $1.3B. - Bumble payers fall 16.4% as revenue per payer rises, TechRound says
TechRound says Bumble's paying users fell 16.4% to 3.2M in Q2 2026 while ARPPU rose 1.2% to $21.96, as the $1.3B Ithaca Holdings take-private awaits closing. - Bumble plans to drop swiping in select markets from Q4 2026
Bumble will drop swiping in select markets from Q4 2026, Axios reported. It was piloting AI assistant Bee in March. Q2 paying users fell 16.4% to 3.2M. - Law firms probe fairness of Bumble's $6.05 take-private price
Bleichmar Fonti & Auld, Kahn Swick & Foti and Ademi LLP opened investigations on 13-14 October into whether Bumble's $6.05-a-share sale price is fair. - Bumble launches searchable Handles a day after $1.3B Ithaca deal
Bumble launched opt-in searchable Handles for verified US iOS members on 14 October, one day after agreeing a $1.3B take-private by Ithaca Holdings. - Bumble to install Ithaca founders Gupta and Hegeman as co-CEOs
Ravi Gupta and John Hegeman become Bumble co-CEOs when the $1.3B Ithaca deal closes. Whitney Wolfe Herd, who stays CEO until then, gets no stated title. - Bumble agrees $1.3B sale to Ithaca Holdings at $6.05 a share
Bumble has agreed a $1.3B all-cash sale to Ithaca Holdings at $6.05 a share, approved by written consent from Blackstone and its founder.
Also mentioned in
- Tinder had been static but is evolving, Match Group's Mmegwa says
- Bloomberg reports tech clients turn to high-fee human matchmakers
- CNN says Bumble, Grindr and Hinge are bringing AI into dating
- Match Group CEO Rascoff says Tinder fix is culture, not algorithm
- Blackstone entities sell 2.76M Bumble shares at $3.5423 via forward
- Character.AI files for Chapter 11 as Disney bids $20M for its tech
Questions about Ithaca Holdings
What is Ithaca Holdings?
Ithaca Holdings is a technology investment holding company co-founded and led by Ravi Gupta and John Hegeman.
What is Ithaca buying?
On 13 October 2026 Ithaca agreed to take Bumble private for about $1.3 billion in cash, at $6.05 per share.
Who will run Bumble after the deal?
Ravi Gupta and John Hegeman are due to become Bumble's co-CEOs at closing.
What does Ithaca Holdings do?
Ithaca Holdings is a technology investment holding company co-founded and run by co-chief executives Ravi Gupta and John Hegeman. On 13 October 2026 it agreed to take Bumble private in an all-cash deal worth about $1.3 billion, at $6.05 a share. Gupta and Hegeman are due to become Bumble's co-CEOs when the deal closes.
Who founded Ithaca Holdings?
Ithaca Holdings was founded by Ravi Gupta and John Hegeman.
Where is Ithaca Holdings based?
Ithaca Holdings is based in United States.
Sources
- Global Dating Insights: Bumble Ithaca Holdings $1.3 billion acquisition
- Press Association via Express & Star: Bumble taken over for £980m in 'bet on future of humanity'
- Dealroom: Bumble to go private in $1.3B all-cash deal with Ithaca Holdings
- Dating Industry Insights: Bumble agrees $1.3B sale to Ithaca Holdings at $6.05 a share