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Blackstone Buys Majority Stake in Dating Apps Bumble, Badoo (1)

Nov. 8, 2019, 4:25 PM

Blackstone Group Inc. is taking a majority stake in the owner of popular dating apps Bumble and Badoo as part of its move to invest in fast-growing companies.

The deal values Bumble’s parent company, MagicLab, at about $3 billion, Blackstone said in a statement Friday.

Blackstone and rivals are seeking to make more growth equity investments as fewer companies are tapping public markets and competition for deals heats up. Blackstone hired Jon Korngold in January to build and lead a new platform focused on growth.

KKR & Co.’s second fund to invest in fast-growing technology companies is already about triple ...