Bumble CEO’s net worth nears US$2bil as stock rallies

FILE PHOTO: Bumble founder and CEO Whitney Wolfe Herd sits for a portrait in the Manhattan borough of New York City, U.S., January 31, 2019. REUTERS/Caitlin Ochs/File Photo

NEW YORK: Bumble Inc chief executive officer Whitney Wolfe Herd’s (pic) stake in the women-centric dating app operator was worth nearly US$2bil, as shares rallied for a second straight day after a blockbuster debut on Thursday.

Bumble, backed by Blackstone Group Inc, was valued at US$15.69bil on Friday, with its stock price nearly doubling from the initial public offering (IPO) price of US$43 per share, underscoring investor’s insatiable appetite for tech shares in a buoyant US equities market.