MagicLab

In 2006, Russian-born entrepreneur Andrey Andreev founded what would become a powerhouse in online dating. His company, initially known for the dating app Badoo, grew into a portfolio of social and dating applications under the umbrella name MagicLab. This group included not just Badoo, a pioneer in mobile-first dating, but also Bumble, Chappy, and Lumen, each targeting different demographics within the vast market of human connection. The company operated on a shared technology platform, allowing it to launch new brands and features efficiently. This strategy enabled rapid growth across its portfolio, ultimately connecting over 500 million people worldwide. The model was to partner with innovative founders, providing them with the infrastructure and experience to build their vision. A pivotal moment arrived in November 2019 when the private equity firm Blackstone acquired a majority stake in MagicLab, valuing the company at approximately $3 billion. This transaction marked a significant turning point. As part of the deal, founder Andrey Andreev sold his stake and stepped down from his role as CEO. Whitney Wolfe Herd, the founder and CEO of Bumble, was appointed CEO of the entire MagicLab group. Following the acquisition, MagicLab was rebranded as Bumble in 2020, solidifying the shift in leadership and future focus.