By Harshita Mary Varghese Oct 13 (Reuters) - Bumble is set to go private in a $1.3 billion deal with Ithaca Holdings after struggling for years to revive growth, as a prolonged decline in users and shifting Gen Z dating habits batter the online dating industry.

Austin-based dating app Bumble Inc. is being acquired by an investment firm in a $1.3 billion deal that will take the company private.

Bumble is going private with 2 new co-CEOs. They'll be the first men to lead the "women-first" dating app since it went public.

Bumble is set to go private in a $1.3 billion deal. Founder Whitney Wolfe Herd is not leaving the company behind.

Bumble has agreed to be taken private by Ithaca Holdings for $6.05 a share in cash, valuing the dating app at about $1.3bn.

Bumble's growth has stagnated in recent years as younger people have moved away from online dating platforms. The company's revenue fell 15.2% year over year to $210.5 million in the second quarter, driven by a 16.4% decline in total paying users to 3.2 million.

Bumble surged nearly 50% in a single session on a report that the dating app could go private at a fraction of its 2021 launch valuation, but the deal structure leaves shareholders guessing whether they stand to gain anything at all.

Bumble Inc. (NASDAQ:BMBL) has agreed to be acquired by Ithaca Holdings in a $1.3 billion transaction, offering shareholders a substantial premium and setting the dating platform o

Bumble announced on October 13 that it had agreed to be acquired by technology investment firm Ithaca Holdings for $1.3 billion.

Dating app Bumble has been snapped up in a £980million deal that its new owners said was a 'bet on the future of humanity'.

The dating app Bumble is being acquired by Ithaca Holdings for $1.3 billion, both companies announced today.