The Goodwin Public M&A team advised the Special Committee of Bumble Inc. (the "Company") in the Company's definitive agreement to terminate its Tax Receivable Agreement ("TRA") for one-time settlement payments totaling approximately $186 million. The transaction price represents a discount of more than 50% to the carrying value of the TRA liability on the Company's balance sheet.
Bumble Inc. is the parent company of Bumble, Badoo and BFF. Bumble brings people closer to love by enabling them to build healthy relationships. Founded in 2014 by Whitney Wolfe Herd, who serves as CEO, Bumble was one of the first dating apps built with women at the center and connects people across dating (Bumble Date) and friendship (Bumble For Friends). Badoo, founded in 2006, was one of the pioneers of web and mobile dating products. BFF is a friendship app for friend-finding, group connections and community-building.
The Goodwin deal team was led by Josh Zachariah, Jean Lee, Stephanie Barbanell, and Janet Andolina.
For more information, please read the Company's disclosure regarding the transaction.