Blackstone to take majority stake in MagicLab, $3 billion valuationChristian Fernsby ▼ | November 10, 2019
Blackstone announced today that funds managed by Blackstone are taking a majority stake in MagicLab, which builds and operates leading dating and social networking apps, including Bumble and Badoo.
Acquisition The transaction values the company at approximately $3 billion
Topics: Blackstone MagicLab
Founded in 2006 by Andrey Andreev, MagicLab helped invent how people meet in the modern, mobile age.
MagicLab’s suite of brands has connected and transformed the lives of over 500 million people around the world across dating, social, and business.
The group shares a foundation of technology, talent, and experience to constantly innovate new ways for people to meet and create life-changing moments by building relationships.
Over his career, Mr. Andreev has been at the forefront of innovation in the dating industry and has continued to invest in finding the most talented entrepreneurs and tech visionaries to mentor. ■