This Dating App's Shares Have Crashed 96% Since IPO, Yet Blackstone Nearly Doubled Its Money — Now the PE Giant Is Swiping Left and Cashing Out: Report

Konskie, Poland - November 21, 2024: Blackstone Group company logo displayed on mobile phone (Credit: Image via Shutterstock)

Rishabh Mishra

Mon, September 14, 2026 at 12:30 AM GMT+3 5 min read

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Private equity firm Blackstone Inc. is reportedly finalizing an exit from Bumble Inc. after doubling its investment, while the dating app's stock has declined.

Blackstone Generates 98% IRR on BMBL Investment

Blackstone and venture firm Accel invested $2.1 billion to acquire a majority stake in Bumble's parent company MagicLab in 2019 at a $3 billion valuation. From its IPO in 2021, Bumble's shares are now down about 96.1%.

Despite the collapse, Blackstone generated a 98% internal rate of return by systematically reducing its exposure, according to a Business Insider report.

Don't Miss:

A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why
Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast

Following a deal with UBS that allowed the sale of just under 5% of the company each quarter, Blackstone is positioned to exit fully by early next year.

Cashing Out Early

The foundation of Blackstone's return relied on moving capital before the stock declined. In late 2020, the firm reportedly utilized Bumble's debt to issue a $334 million dividend to itself. During Bumble's IPO, Blackstone reduced its position from 83.6% to 53.2%, netting nearly $2 billion.

In 2021, with shares trading above $50, Blackstone executed another $1 billion stock sale. By the end of 2023, shares had dropped below $14.

To illustrate the asset's depreciation, the firm's remaining 22.4 million shares are currently worth approximately $66.75 million—a fraction of the $1.084 billion they yielded from a similar volume of shares sold in 2021.

Board Exits and Turnaround Pressure

As Blackstone accelerates its stock sales, it has also vacated its two allocated board seats. Jonathan Korngold stepped down in June, followed by Martin Brand in August.

Meanwhile, Bumble faces a 16.4% year-over-year decline in paying users. Chandler Willison, an analyst at M Science, told Business Insider that a private equity group is the "most obvious" potential buyer for Bumble because public markets apply a "lot more pressure to improve performance."

Warning against a lengthy transition, Willison stated: "The longer management says, 'We're in a turnaround period,' the less confidence not just Blackstone, but investors in general, are going to have with the company."

Photo courtesy: Shutterstock

Read Next:

Skip the Regrets: The Essential Retirement Tips Experts Wish Everyone Knew Earlier.
Think you're saving enough for your kids? You might be dangerously off — see why

Building Wealth Across More Than Just the Market

Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That's why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn't tied to the fortunes of just one company or industry.

Arrived

Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.

Skybound Entertainment

Entertainment franchises can become valuable long-term assets when they successfully expand across multiple platforms. Skybound Entertainment, the company behind The Walking Dead and Invincible, develops original intellectual property that spans comics, television, film, video games, merchandise, and licensing. With more than 250 IPs in its portfolio and a strategy focused on retaining franchise rights while scaling successful stories across media, Skybound offers investors exposure to the growing entertainment and creator economy through a private company rather than traditional public market investments.

Green Coffee Company

Coffee is a daily staple for millions of consumers, but investors rarely get direct exposure to the brands and supply chains behind it. Green Coffee Company offers a way to participate in the growth of the coffee market through its exclusive U.S. and Canadian distribution rights for Colombian brand Juan Valdez. With the brand expanding across major retailers including Target, Walgreens and Kroger, and GCC reporting 26X revenue growth over four years, the company is positioning itself to bring a well-known Colombian coffee brand to more consumers across North America.

American PowerGen

As artificial intelligence drives a surge in electricity demand, reliable power generation is becoming a critical part of the technology ecosystem. American PowerGen is developing natural gas-fired power plants in Texas, a fast-growing market fueled by AI data centers, manufacturing expansion, and population growth. By advancing projects through permitting, fuel supply, and grid interconnection, the company is positioning itself to help meet rising energy needs while offering investors exposure to the infrastructure supporting the next wave of AI and industrial growth.

Qnetic

As electricity demand rises alongside AI, data centers, and renewable energy, long-duration energy storage is becoming increasingly important. Qnetic is developing a kinetic energy storage system designed to provide long-lasting, chemical-free electricity storage, offering investors exposure to the infrastructure supporting a more resilient and reliable power grid.

EquityMultiple

For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000, with only ~5% of opportunities passing their due diligence process.

FarmTogether

Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000 — fully managed, with no landlord headaches.

Fundrise

Private real estate and private credit can add income and stability to a stock-heavy portfolio. Fundrise offers access to diversified private real estate and credit strategies through an easy-to-use platform, with professionally managed portfolios designed to generate passive income and long-term growth.