Bumblebee vendor says Blackstone has made an offer he can’t refuse

Bumblebee vendor says Blackstone has made an offer he can’t refuse

(Bloomberg) – MagicLab founder Andrey Andreev once longed for the IPO and Nasdaq listing for his company’s popular dating apps, including Bumble.

But then Blackstone Group Inc. arrived “with a good deal,” said Andreev, 45, in a job interview at a London hotel. “i possibly couldn’t refuse it.”

In November, the equity that is private acquired a big part stake in MagicLab with a value of around three billion US bucks. Andreev, whom founded the organization in 2006, offered their stake and stepped down from their company beneath the agreement finalized this week. Now, with at the least $ 1.5 billion at your fingertips, he intends to make use of area of the money through the money deal for philanthropic purposes.

“Instead of simply CEO that is being of detailed business for most, several years, I made a decision to use one thing brand new,” he stated.

Andreev happens to be reluctant to talk about the brand new business in level. He simply exposed workplace in main London, to which 20 previous MagicLab workers have actually accompanied.

“I constantly see interesting people – young entrepreneurs – who i wish to share my experience with and whom i wish to help,” said Andreev. “With the sheer number of startups we have actually successfully finished, We have sufficient expertise – technical or company – to fairly share it along with other individuals.”

Andreev had currently planned an IPO for their matchmaking kingdom a year ago, that also includes the social networking Badoo, which can be intended for dating. In a Instagram post, he had been introduced in the front of that time period Square by Nasdaq.

The opportunity encounter near Blackstone’s London workplace, where an administrator respected the entrepreneur that is serial sooner or later generated a deal for MagicLab. That is section of an equity that is private aspiration to buy fast growing organizations. Today, Bumble could be the 2nd most widely used dating application in the usa with 81 million users in 150 nations. (mehr …)