Shares in Bumble Inc. BMBL declined more than 7% in after-hours trading Thursday, following a disclosure that founder and Chief Executive Whitney Wolfe Herd will sell shares in a secondary offering that will also include investor Blackstone Inc. BX Wolfe Herd plans to sell 1.75 million of the 12.5 million shares offered, with the rest coming from Blackstone, which will also offer underwriters — including Blackstone itself — an additional 1.88 million shares if desired. Citigroup Inc. C and Goldman Sachs Group Inc. GS were also listed as underwriters of the deal in a filing with the Securities and Exchange Commission. In a separate filing with the SEC, Bumble disclosed that paying users of the Bumble app grew 30.7% year-over-year in the first two months of 2022, while paid users of its Badoo app and other services declined 10.4%; overall, paid users grew 13.4%. Bumble shares closed Thursday at $24.54, down nearly 43% from the $43 share price commanded in the dating-app company’s 2021 initial public offering.
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