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Announcement

Ithaca announces agreement to acquire Bumble

The announcement says Ithaca believes frontier technology can help more people find and build relationships.

Dwarkesh PatelDP
Sholto DouglasSD
Brian CheskyBC
5 Sources, 2h ago, first seen 2h ago

TLDR

In an October 13 post, a person speaking for Ithaca announced an agreement to acquire Bumble. The post says Ithaca considered hundreds of companies over six months before Bumble stood out. Ithaca says it aims to use frontier technology to help people find and build relationships, consistent with its strategy of acquiring businesses, transforming them with technology and holding them long term.

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5 Sources, first seen 2h ago

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5 Sources, first seen 2h ago

— likes— comments— saves— reposts

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5 Sources

Ravi Gupta@GuptaRK22Today we announced an agreement to acquire Bumble. Over the past six months, we’ve looked at hundreds of companies, asking which businesses would become more valuable as AI advances. Bumble stood out. As intelligence becomes more abundant, we believe connecting with the right person and forming meaningful relationships will become even more precious. And frontier technology can help more people find and build those relationships. Our purpose at Ithaca is to apply frontier technology to things that matter. We acquire enduring businesses, transform them with technology, and hold for the long term. We focus on businesses not only for their financial potential but their ability to enrich lives. Whitney and her team have built something extraordinary. Millions of relationships began on Bumble, and we’re honored to help take it into its next era. Together we intend to build the best company in the world for helping people find each other. Let’s get to work.2h
Brian Chesky@bcheskyWhitney is one of the most talented founders I've ever met. Online dating is a brutal business. Whitney built Bumble from nothing, took it public, and came back to run it when it was struggling. That took real grit. It was way harder than it looked from the outside. I'm bullish on Bumble. @GuptaRK22 and John Hegeman are great operators, and the category needs to be reinvented with AI. Human connection matters more than ever, and I can't wait to see what they build together. Congrats @WhitWolfeHerd.1h
Sholto Douglas@_sholtodouglasI’m betting this becomes a textbook case. How should you transform a company when the technology arrives to do it 100x better? Can you leverage existing network effects to get to scale faster? Can you use AI to dramatically multiply the value of a business and give everyone within it superpowers, not just cut cost? Dating has such much headroom - current products are primitive and extractive compared to what they could be. Ravi, John and Shrey are great friends - I’m very bullish on what they’ll do here.1h
Dwarkesh Patel@dwarkesh_spI’m good friends with the people in the small team at @Ithica_Holdings, and they are aces. They'll buy companies which will be especially important in a world with more capable AI and then do great things to the products they provide.21m
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    5 Sources

    Ravi Gupta@GuptaRK22Today we announced an agreement to acquire Bumble. Over the past six months, we’ve looked at hundreds of companies, asking which businesses would become more valuable as AI advances. Bumble stood out. As intelligence becomes more abundant, we believe connecting with the right person and forming meaningful relationships will become even more precious. And frontier technology can help more people find and build those relationships. Our purpose at Ithaca is to apply frontier technology to things that matter. We acquire enduring businesses, transform them with technology, and hold for the long term. We focus on businesses not only for their financial potential but their ability to enrich lives. Whitney and her team have built something extraordinary. Millions of relationships began on Bumble, and we’re honored to help take it into its next era. Together we intend to build the best company in the world for helping people find each other. Let’s get to work.2h
    Brian Chesky@bcheskyWhitney is one of the most talented founders I've ever met. Online dating is a brutal business. Whitney built Bumble from nothing, took it public, and came back to run it when it was struggling. That took real grit. It was way harder than it looked from the outside. I'm bullish on Bumble. @GuptaRK22 and John Hegeman are great operators, and the category needs to be reinvented with AI. Human connection matters more than ever, and I can't wait to see what they build together. Congrats @WhitWolfeHerd.1h
    Sholto Douglas@_sholtodouglasI’m betting this becomes a textbook case. How should you transform a company when the technology arrives to do it 100x better? Can you leverage existing network effects to get to scale faster? Can you use AI to dramatically multiply the value of a business and give everyone within it superpowers, not just cut cost? Dating has such much headroom - current products are primitive and extractive compared to what they could be. Ravi, John and Shrey are great friends - I’m very bullish on what they’ll do here.1h
    Dwarkesh Patel@dwarkesh_spI’m good friends with the people in the small team at @Ithica_Holdings, and they are aces. They'll buy companies which will be especially important in a world with more capable AI and then do great things to the products they provide.21m
    Today's Rank

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    Today's Rank

    #5