Blackstone acquired MagicLab (Bumble / Badoo) for Approximately $3 billion valuation (majority stake), a transaction announced in November 2019, structured as Majority stake (equity, with financing provided by Citi).
MagicLab (Bumble / Badoo) operates in Consumer internet — dating & social networking apps, is based in London, UK (global user base).
MagicLab owned fast-growing dating and social apps including Bumble and Badoo with more than 500 million users; Blackstone Growth backed the platform to accelerate expansion, using its scale, long-term horizon and operating resources, with Bumble founder Whitney Wolfe Herd taking over as group CEO.
We're excited to invest in MagicLab, which is a pioneer in the fast-growing online dating industry. They have a highly talented team and strong set of platforms, including Bumble, which was built on a commitment to inclusion and female empowerment. This partnership is a perfect example of Blackstone's ability to use its scale, long-term investment horizon, and deep bench of operational resources to help entrepreneurs take advantage of transformational growth opportunities.Jon Korngold, Head of Blackstone Growth (BXG)
Advisory firms were not disclosed for this transaction.