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Bumble CEO in billionaire list as stock continues to soar

Credit: REUTERS/CAITLIN OCHS

Bumble Inc Chief Executive Officer Whitney Wolfe Herd's stake in the women-centric dating app operator was worth nearly $2 billion, as shares rallied for a second straight day after a blockbuster debut on Thursday.

Feb 12 (Reuters) - Bumble Inc BMBL.O Chief Executive Officer Whitney Wolfe Herd's stake in the women-centric dating app operator was worth nearly $2 billion, as shares rallied for a second straight day after a blockbuster debut on Thursday.

Bumble, backed by Blackstone Group Inc BX.N, was valued at $15.69 billion on Friday, with its stock price nearly doubling from the initial public offering price of $43 per share, underscoring investor's insatiable appetite for tech shares in a buoyant U.S. equities market.

Wolfe Herd owns 21.5 million shares in Bumble, equating to a 11.6% stake, regulatory filings showed.

With the blockbuster IPO, Wolfe Herd, 31, became the youngest female CEO to ever take a company public as she rang the opening bell from Bumble's Austin-based offices with her one-year-old son by her side.

Wolfe Herd is also a co-founder of rival app Tinder, which she later sued, alleging that her co-founders subjected her to sexual harassment. Tinder parent Match Group Inc MTCH.O, which denied the allegations, paid about $1 million to settle the dispute.

Wolfe Herd, who graduated with a degree in International Studies from the Southern Methodist University's Dedman College of Humanities and Sciences, launched the Bumble app in 2014.

Bumble's shares were up 13.5% in afternoon trade on Friday, after rising as much as 20.6% to $84.8 earlier in the session.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D'Silva)

((noor.hussain@thomsonreuters.com; Within U.S. +1 646 223 8780; Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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