3 Firms Help Blackstone Swipe Stake In $3B Dating App Co.

Law360 (November 8, 2019, 5:18 PM EST) -- The Blackstone Group has agreed to buy a majority stake in MagicLab, the company behind dating apps Bumble and Chappy, in a deal that values the company at about $3 billion and was put together with help from Davis Polk, Baker McKenzie and Simpson Thacher.

The deal will see Blackstone take a controlling stake in MagicLab, which boasts having connected more than 500 million people through its various apps, according to a statement. MagicLab’s apps include Bumble, a dating app where women and men can connect but only women are allowed to initiate a conversation; Chappy, a gay dating and social...

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