FinSight makes an exit from Badoo

Blackstone Group Inc. is taking a majority stake in Magic Lab, the parent company of dating apps Bumble and Badoo, as part of the private-equity giant’s broader push to invest more in fast-growing companies. The deal values MagicLab at about $3 billion. As part of the deal, FinSight Ventures and Andrey Andreev (founder and CEO) are selling their stakes in Magic Lab  Thirty-year-old Bumble founder Whitney Wolfe Herd will retain the vast majority of her stake and will become CEO of the company.

 

Leave a Reply

Your email address will not be published.

Share This

Copy Link to Clipboard

Copy