Cover Page
Cover Page - USD ($) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2019 | Feb. 28, 2022 | Jun. 30, 2021 | |
Document Information [Line Items] | ||||
Document Type | 10-K | |||
Amendment Flag | false | |||
Document Period End Date | Dec. 31, 2021 | |||
Document Fiscal Year Focus | 2021 | |||
Document Fiscal Period Focus | FY | |||
Trading Symbol | BMBL | |||
Entity Registrant Name | Bumble Inc. | |||
Entity Central Index Key | 0001830043 | |||
Entity Voluntary Filers | No | |||
Current Fiscal Year End Date | --12-31 | |||
Entity Filer Category | Non-accelerated Filer | |||
Entity Small Business | false | |||
Entity Emerging Growth Company | true | |||
Entity Ex Transition Period | false | |||
Entity Shell Company | false | |||
Entity Current Reporting Status | Yes | |||
Entity Interactive Data Current | Yes | |||
Entity File Number | 001-40054 | |||
Entity Well Known Seasoned Issuer | Yes | |||
Entity Incorporation State Country Code | DE | |||
Entity Tax Identification Number | 85-3604367 | |||
Entity Address Postal Zip Code | 78756 | |||
Entity Address, Address Line One | 1105 West 41st Street | |||
Entity Address City Or Town | Austin | |||
Entity Address State Or Province | TX | |||
City Area Code | 512 | |||
Local Phone Number | 696-1409 | |||
Security12b Title | Class A common stock, par value $0.01 per share | |||
Security Exchange Name | NASDAQ | |||
Document Annual Report | true | |||
Document Transition Report | false | |||
Entity Public Float | $ 4,371,204,000 | |||
ICFR Auditor Attestation Flag | false | |||
Auditor Firm ID | 42 | 1438 | ||
Auditor Name | Ernst & Young LLP | Ernst & Young LLP | ||
Auditor Location | New York, NY, USA | London, UK | ||
Common Class A | ||||
Document Information [Line Items] | ||||
Entity Common Stock, Shares Outstanding | 129,465,666 | |||
Common Class B | ||||
Document Information [Line Items] | ||||
Entity Common Stock, Shares Outstanding | 20 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and cash equivalents | $ 369,175 | $ 128,029 |
Accounts receivable | 47,538 | 41,595 |
Other current assets | 52,751 | 81,387 |
Total current assets | 469,464 | 251,011 |
Right-of-use assets | 26,410 | 11,711 |
Lease receivable | 0 | 1,069 |
Property and equipment, net | 14,627 | 16,833 |
Goodwill | 1,540,112 | 1,540,915 |
Intangible assets, net | 1,696,798 | 1,812,410 |
Deferred tax assets, net | 19,090 | 0 |
Other noncurrent assets | 9,319 | 3,319 |
Total assets | 3,775,820 | 3,637,268 |
LIABILITIES AND BUMBLE INC. SHAREHOLDERS’ / BUZZ HOLDINGS L.P. OWNERS’ EQUITY | ||
Accounts payable | 19,169 | 23,741 |
Deferred revenue | 39,924 | 31,269 |
Accrued expenses and other current liabilities | 111,482 | 180,986 |
Less: current portion of debt, net | 2,588 | 5,338 |
Total current liabilities | 173,163 | 241,334 |
Long-term debt, net | 620,351 | 820,876 |
Deferred tax liabilities | 428,087 | |
Payable to related parties pursuant to a tax receivable agreement | 388,780 | 0 |
Other liabilities | 119,246 | 62,190 |
Total liabilities | 1,301,540 | 1,552,487 |
Commitments and contingencies (Note 17) | ||
Bumble Inc. Shareholders’ / Buzz Holdings L.P. Owners’ Equity: | ||
Preferred stock (par value $0.01; authorized 600,000,000 shares; no shares issued and outstanding as of September 30, 2021) | 0 | 0 |
Limited Partners’ interest | 0 | 1,903,121 |
Additional paid-in capital | 1,586,781 | 0 |
Accumulated deficit | (52,856) | 0 |
Accumulated other comprehensive income | 80,629 | 180,852 |
Total Bumble Inc. shareholders’ / Buzz Holdings L.P. owners’ equity | 1,615,846 | 2,083,973 |
Noncontrolling interests | 858,434 | 808 |
Total shareholders’ / owners’ equity | 2,474,280 | 2,084,781 |
Total liabilities and shareholders’ / owners’ equity | 3,775,820 | 3,637,268 |
Common Class A | ||
Bumble Inc. Shareholders’ / Buzz Holdings L.P. Owners’ Equity: | ||
Common stock | 1,292 | 0 |
Common Class B | ||
Bumble Inc. Shareholders’ / Buzz Holdings L.P. Owners’ Equity: | ||
Common stock | $ 0 | $ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 600,000,000 | 600,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common Class A | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 6,000,000,000 | 6,000,000,000 |
Common stock, shares issued | 129,212,949 | 0 |
Common stock, shares outstanding | 129,212,949 | 0 |
Common Class B | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, shares issued | 20 | 100 |
Common stock, shares outstanding | 20 | 100 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Income Statement [Abstract] | ||||
Revenue | $ 39,990 | $ 542,192 | $ 765,660 | $ 488,940 |
Operating costs and expenses: | ||||
Cost of revenue | 10,790 | 146,629 | 209,921 | 139,767 |
Selling and marketing expense | 11,157 | 152,588 | 211,711 | 142,902 |
General and administrative expense | 44,907 | 178,615 | 265,738 | 67,079 |
Product development expense | 4,087 | 46,994 | 105,917 | 39,205 |
Depreciation and amortization expense | 408 | 91,767 | 107,056 | 6,734 |
Total operating costs and expenses | 71,349 | 616,593 | 900,343 | 395,687 |
Operating earnings (loss) | (31,359) | (74,401) | (134,683) | 93,253 |
Interest income (expense) | 50 | (22,134) | (25,609) | 202 |
Other income (expense), net | (882) | (5,525) | 11,166 | (1,473) |
Income (loss) before income taxes | (32,191) | (102,060) | (149,126) | 91,982 |
Income tax benefit (provision) | (365) | (8,126) | 436,071 | (6,138) |
Net earnings (loss) | (32,556) | (110,186) | 286,945 | 85,844 |
Net earnings (loss) attributable to noncontrolling interests | 1,917 | 808 | (30,834) | 19,698 |
Net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners / Worldwide Vision Limited shareholders | $ (34,473) | $ (110,994) | $ 317,779 | $ 66,146 |
Net earnings (loss) per share / unit attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners | ||||
Basic earnings (loss) per share / unit | $ 0 | $ (0.05) | $ 1.52 | $ 0 |
Diluted earnings (loss) per share / unit | $ 0 | $ (0.05) | $ 1.48 | $ 0 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Operations - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net loss | $ (32,556) | $ (110,186) | $ 286,945 | $ 85,844 |
Other comprehensive income (loss), net of tax: | ||||
Change in foreign currency translation adjustment | (774) | 180,852 | (7,319) | 152 |
Total other comprehensive income (loss), net of tax | (774) | 180,852 | (7,319) | 152 |
Comprehensive income (loss) | (33,330) | 70,666 | 279,626 | 85,996 |
Comprehensive income (loss) attributable to noncontrolling interests | 1,917 | 808 | (33,673) | 19,698 |
Comprehensive income (loss) attributable to Bumble Inc. shareholders' / Buzz Holdings L.P. owners / Worldwide Vision Limited shareholders | $ (35,247) | $ 69,858 | $ 313,299 | $ 66,298 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity / Deficit - USD ($) $ in Thousands | Total | Limited Partners Interest | Common Class AIPO [Member] | Limited Partners' Equity | Issued Share Capital | Common StockCommon Class A | Common StockCommon Class B | Treasury Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Total Buzz Holdings L.P. Owners' Equity | Noncontrolling Interests |
Beginning balance at Dec. 31, 2018 | $ (35,219) | $ 11 | $ (3,788) | $ 1,185 | $ 492 | $ (24,794) | $ (26,894) | $ (8,325) | |||||
Beginning balance, shares at Dec. 31, 2018 | 108,389 | 6,940 | |||||||||||
Stock-based compensation expense | 2,160 | 2,160 | 2,160 | ||||||||||
Share issuance Amount | 104 | 104 | 104 | ||||||||||
Share issuance (Shares) | 42,000 | ||||||||||||
Net loss | 85,844 | 66,146 | 66,146 | 19,698 | |||||||||
Dividends paid | (23,359) | (18,000) | (18,000) | (5,359) | |||||||||
Other comprehensive income, net of tax | 152 | 152 | 152 | ||||||||||
Ending balance at Dec. 31, 2019 | 29,682 | $ 11 | $ (3,788) | 3,449 | 644 | 23,352 | 23,668 | 6,014 | |||||
Ending balance, shares at Dec. 31, 2019 | 108,431,000 | 6,940 | |||||||||||
Stock-based compensation expense | 336 | 336 | 336 | ||||||||||
Net loss | (32,556) | (34,473) | (34,473) | 1,917 | |||||||||
Other comprehensive income, net of tax | (774) | (774) | (774) | ||||||||||
Ending balance at Jan. 28, 2020 | (3,312) | $ 11 | $ (3,788) | 3,785 | (130) | (11,121) | (11,243) | 7,931 | |||||
Ending balance, shares at Jan. 28, 2020 | 108,431 | 6,940 | |||||||||||
Beginning balance at Dec. 31, 2019 | 29,682 | $ 11 | $ (3,788) | 3,449 | 644 | 23,352 | 23,668 | 6,014 | |||||
Beginning balance, shares at Dec. 31, 2019 | 108,431,000 | 6,940 | |||||||||||
Issuance of Limited Partners' Interest | 2,360,412 | $ 2,360,412 | 2,360,412 | ||||||||||
Other comprehensive income, net of tax | 180,852 | 180,852 | 180,852 | ||||||||||
Ending balance at Dec. 31, 2020 | 2,084,781 | $ 2,000,412 | $ 1,903,121 | $ 0 | $ 0 | $ 0 | 0 | 180,852 | 0 | 2,083,973 | 808 | ||
Ending balance, shares at Dec. 31, 2020 | 2,119,412 | 0 | 100 | 0 | |||||||||
Beginning balance at Jan. 28, 2020 | (3,312) | $ 11 | $ (3,788) | 3,785 | (130) | (11,121) | (11,243) | 7,931 | |||||
Beginning balance, shares at Jan. 28, 2020 | 108,431 | 6,940 | |||||||||||
Net loss | (110,186) | ||||||||||||
Other comprehensive income, net of tax | 180,852 | ||||||||||||
Ending balance at Dec. 31, 2020 | 2,084,781 | $ 2,000,412 | 1,903,121 | $ 0 | $ 0 | $ 0 | 0 | 180,852 | 0 | 2,083,973 | 808 | ||
Ending balance, shares at Dec. 31, 2020 | 2,119,412 | 0 | 100 | 0 | |||||||||
Beginning balance at Jan. 29, 2020 | 0 | $ 0 | 0 | 0 | 0 | ||||||||
Beginning balance, shares at Jan. 29, 2020 | 0 | ||||||||||||
Stock-based compensation expense | 13,703 | 13,703 | |||||||||||
Net loss | (110,186) | (110,994) | 808 | ||||||||||
Dividends paid | (360,000) | $ (360,000) | (360,000) | ||||||||||
Ending balance at Dec. 31, 2020 | 2,084,781 | $ 2,000,412 | $ 1,903,121 | $ 0 | $ 0 | $ 0 | 0 | 180,852 | 0 | 2,083,973 | 808 | ||
Ending balance, shares at Dec. 31, 2020 | 2,119,412 | 0 | 100 | 0 | |||||||||
Issuance of Limited Partners' Interest, shares | 2,119,412 | ||||||||||||
Limited Partners’ interest | 1,903,121 | $ 1,903,121 | |||||||||||
Acquisition of noncontrolling interests | 808 | $ 0 | 0 | (808) | |||||||||
Net earnings prior to Reorganization Transactions | 370,635 | 370,635 | |||||||||||
Stock-based compensation expense | 11,587 | 11,587 | |||||||||||
Stock-based compensation expense | 105,254 | 105,254 | |||||||||||
Effect of the Reorganization Transactions | $ (2,286,151) | $ 826 | 1,075,019 | (95,744) | 1,306,050 | ||||||||
Effect of the Reorganization Transactions, shares | 82,642,374 | ||||||||||||
Retirement of Class B common stock | (80) | ||||||||||||
Share issuance Amount | 2,358,371 | $ 575 | 2,236,787 | 121,009 | |||||||||
Share issuance (Shares) | 57,500,000 | 57,500,000 | |||||||||||
Purchase of Class A Common Stock in the initial public offering | (1,018,365) | $ (1,991,600) | $ (1,018,365) | ||||||||||
Purchase of Class A Common Stock in the initial public offering, shares | 24,798,848 | ||||||||||||
Purchase of Common Units from Pre-IPO Common Unitholders in the initial public offering | 973,289 | (609,489) | 363,800 | ||||||||||
Vested Incentive Units | (8,067) | 8,067 | |||||||||||
Issuance of Founder loan common units | (30,371) | 30,371 | |||||||||||
Equity plan modification from liability to equity settled due to Reorganization | 22,107 | 22,107 | |||||||||||
Impact of Tax Receivable Agreement due to exchanges of Common Units | (387,669) | (387,669) | |||||||||||
Retirement of treasury stock | $ 248 | $ 1,018,365 | 1,018,117 | ||||||||||
Retirement of treasury stock, Shares | 24,798,848 | 24,798,848 | |||||||||||
Cancellation of restricted shares | $ (1) | (2,164) | 2,165 | ||||||||||
Cancellation of restricted shares, shares | 178,806 | ||||||||||||
Exercise of options | 545 | 734 | (189) | ||||||||||
Options Exercised, Shares | (12,668) | ||||||||||||
Restricted stock units issued, net of shares withheld for taxes | (8,668) | $ 2 | (5,227) | (3,443) | |||||||||
Restricted stock units issued, net of shares withheld for taxes, Shares | 235,148 | ||||||||||||
Exchange of common units for Class A common stock | $ (138) | (207,984) | 208,122 | ||||||||||
Exchange of Common Units for Class A common stock, shares | 13,800,413 | ||||||||||||
Net loss subsequent to Reorganization Transactions | (83,690) | (52,856) | (30,834) | ||||||||||
Net loss | 286,945 | ||||||||||||
Other comprehensive income, net of tax | (7,319) | (4,479) | (2,840) | ||||||||||
Ending balance at Dec. 31, 2021 | 2,474,280 | $ 1,292 | $ 1,586,781 | $ 80,629 | $ (52,856) | $ 858,434 | |||||||
Ending balance, shares at Dec. 31, 2021 | 129,212,949 | 20 | |||||||||||
Limited Partners’ interest | $ 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |||
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||||||
Net earnings (loss) | $ (32,556) | $ (110,186) | $ (110,186) | $ 286,945 | $ 85,844 | |
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | 408 | 91,767 | 107,056 | 6,734 | ||
Impairment losses | 0 | 0 | 26,431 | 0 | ||
Changes in fair value of interest rate swap | 0 | 1,586 | (6,593) | 0 | ||
Change in fair value of contingent earn-out liability | 0 | 27,800 | 55,900 | 0 | ||
Non-cash lease expense | (226) | (109) | 5,438 | 952 | ||
Deferred income tax | 26 | (789) | (446,629) | 201 | ||
Stock-based compensation expense | 4,156 | 27,468 | 123,910 | 2,160 | ||
Net foreign exchange difference | (198) | 6,945 | (4,084) | 600 | ||
Research and development tax credit | 0 | (1,211) | (1,322) | (2,374) | ||
Other, net | (31) | (3,604) | (6,093) | (201) | ||
Changes in assets and liabilities: | ||||||
Accounts receivable | 17,599 | (10,737) | 9,953 | 5,971 | ||
Other current assets | (2,175) | (46,949) | (24,328) | (21,144) | ||
Accounts payable | 12,984 | 2,970 | (3,531) | (252) | ||
Deferred revenue | 289 | 22,169 | 8,654 | 1,360 | ||
Legal liabilities | (521) | (18,374) | (46,377) | (1,811) | ||
Accrued expenses and other current liabilities | 32,075 | 38,806 | (30,545) | 34,523 | ||
Other, net | 0 | 27 | 948 | 369 | ||
Net cash provided by (used in) operating activities | (3,306) | 56,261 | 104,837 | 101,392 | ||
Cash flows from investing activities: | ||||||
Capital expenditures | (1,045) | (10,632) | 13,653 | (9,674) | ||
Acquisition of business, net of cash acquired | 0 | (2,837,706) | 0 | 0 | ||
Other, net | 16 | (2,313) | 1,169 | (1,722) | ||
Net cash used in investing activities | (1,029) | (2,850,651) | (12,484) | (11,396) | ||
Cash flows from financing activities: | ||||||
Proceeds from issuance of Class A common stock sold in initial public offering, net of offering costs | 0 | 0 | 2,358,371 | 0 | ||
Payments to purchase and retire common stock | 0 | 0 | (1,018,365) | 0 | ||
Purchase of Common Units from Pre-IPO Common Unitholders in the initial public offering | 0 | 0 | (973,289) | 0 | ||
Proceeds from exercise of options | 0 | 0 | 545 | 0 | ||
Proceeds from repayments of loans to related companies | 0 | 41,929 | 0 | 0 | ||
Debt issuance costs | 0 | (21,105) | 0 | 0 | ||
Limited Partners’ interest | 0 | 2,360,412 | 0 | 0 | ||
Proceeds from term loan | 0 | 850,000 | 0 | 0 | ||
Repayment of term loan | 0 | (5,000) | (206,438) | 0 | ||
Issuance of loans | 0 | 0 | 0 | (41,965) | ||
Proceeds from issuance of shares | 0 | 0 | 0 | 104 | ||
Dividends paid | 0 | (360,000) | 0 | (23,359) | ||
Withholding tax paid on behalf of employees on stock based awards | 0 | 0 | (9,338) | 0 | ||
Other, net | 0 | 0 | 0 | 24 | ||
Net cash provided by (used in) financing activities | 0 | 2,866,236 | 151,486 | (65,196) | ||
Effects of exchange rate changes on cash and cash equivalents | 813 | 2,513 | (2,950) | (640) | ||
Net increase (decrease) in cash and cash equivalents and restricted cash | (3,522) | 74,359 | 240,889 | 24,160 | ||
Cash and cash equivalents and restricted cash, beginning of the period | 57,449 | 53,927 | 128,286 | $ 57,449 | 33,289 | |
Cash and cash equivalents and restricted cash, end of the period | 53,927 | 128,286 | 128,286 | 369,175 | 128,286 | 57,449 |
Less restricted cash | 0 | 257 | 257 | 0 | 257 | 0 |
Cash and cash equivalents, end of the period | $ 53,927 | $ 128,029 | $ 128,029 | $ 369,175 | $ 128,029 | $ 57,449 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
Dec. 31, 2021 | |
Organization and Basis of Presentation | Note 1 - Organization and Basis of Presentation Company Overview Bumble Inc.’s main operations are providing online dating and social networking platforms through subscription and in-app purchases dating products servicing North America, Europe and various other countries around the world. Bumble Inc. provides these services through websites and applications that it owns and operates. Bumble Inc. (the "Company" or "Bumble") was incorporated as a Delaware corporation on October 5, 2020 for the purpose of facilitating an initial public offering (“IPO”) and other related transactions in order to operate the business of Buzz Holdings L.P. (“Bumble Holdings”) and its subsidiaries. Prior to the IPO and the Reorganization Transactions, Bumble Holdings L.P. ("Bumble Holdings"), a Delaware limited partnership, was formed primarily as a vehicle to finance the acquisition (the “Sponsor Acquisition”) of a majority stake in Worldwide Vision Limited by a group of investment funds managed by Blackstone Inc. (“Blackstone” or our "Sponsor"). As Bumble Holdings did not have any previous operations, Worldwide Vision Limited, a Bermuda exempted limited company, is viewed as the predecessor to Bumble Holdings and its consolidated subsidiaries. Accordingly, these consolidated financial statements include certain historical consolidated financial and other data for Worldwide Vision Limited for periods prior to the completion of the business combination. On February 16, 2021, the Company completed its IPO of 57.5 million shares of Class A common stock at an offering price of $ 43 per share and received net proceeds of $ 2,361.2 million after deducting underwriting discounts and commissions. The Company used the proceeds from the issuance of 48.5 million shares ($ 1,991.6 million) to redeem shares of Class A common stock and purchase limited partnership interests of Bumble Holdings ("Common Units") from entities affiliated with our Sponsor, at a price per share / Common Unit equal to the IPO price, net of underwriting discounts and commissions. In connection with the IPO, the organizational structure was converted to an umbrella partnership-C-Corporation with Bumble Inc. becoming the general partner of Bumble Holdings. The Reorganization Transactions were accounted for as a transaction between entities under common control. As a result, the financial statements for periods subsequent to the Sponsor Acquisition and prior to the IPO and the Reorganization Transactions have been adjusted to combine the previously separate entities for presentation purposes. As the general partner, Bumble Inc. operates and controls all of the business and affairs, and through Bumble Holdings and its subsidiaries, conducts the business. Bumble Inc. consolidates Bumble Holdings in its consolidated financial statements and reports a noncontrolling interest related to the Common Units held by the pre-IPO common unitholders and the incentive units held by the continuing incentive unitholders in the consolidated financial statements. Assuming the exchange of all outstanding Common Units for shares of Class A common stock on a one-for-one basis under the exchange agreement entered into by holders of Common Units, there would be 187,986,526 shares of Class A common stock outstanding (which does not reflect any shares of Class A common stock issuable in exchange for as-converted Incentive Units or upon settlement of certain other interests) as of December 31, 2021. Secondary Offering On September 15, 2021, the Company completed a secondary offering of 20.7 million shares of Class A common stock on behalf of certain selling stockholders affiliated with Blackstone (the "Selling Stockholders") at a price of $ 54.00 per share. This transaction resulted in the issuance of 9.2 million shares of Class A common stock for the period ending September 30, 2021. Bumble did not sell any shares of Class A common stock in the offering and did not receive any of the proceeds from the sale. Bumble paid the costs associated with the sale of shares by the Selling Stockholders, net of the underwriting discounts. Basis of Presentation and Consolidation The Company prepares the consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The consolidated financial statements include the financial statements of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. All intercompany transactions and balances have been eliminated. A noncontrolling interest in a consolidated subsidiary represents the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to the Company. Noncontrolling interests are presented as a separate component of equity in the consolidated balance sheets and the presentation of net income is modified to present earnings and other comprehensive income attributed to controlling and noncontrolling interests. The Company’s noncontrolling interest represents substantive profit-sharing arrangements and profit and losses are attributable to controlling and noncontrolling interests using a hypothetical liquidation at book value method. As a result of the Sponsor Acquisition as further discussed in Note 6, Business Combination , periods prior to January 28, 2020 reflect the financial statements of Worldwide Vision Limited prior to the business combination (referred to herein as the “Predecessor”). Periods subsequent to January 28, 2020 reflect the financial statements of the Company after the business combination (referred to herein as the “Successor”). The Company’s assets and liabilities were adjusted to fair value on the closing date of the business combination. Due to the change in the basis of accounting, the consolidated financial statements for the Predecessor and the Successor are not necessarily comparable. Where applicable, a black line separates the Successor and Predecessor periods to highlight the lack of comparability. Statement of Changes in Equity Reclassification Beginning in the fourth quarter of 2021, the Company adjusted its Consolidated Statement of Changes in Equity to reclassify $ 95.7 million from accumulated other comprehensive income to additional paid-in capital in order to correctly present the effects of the Reorganization Transactions and IPO, which had been incorrectly presented in the condensed consolidated financial statements included within our previously filed Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021. This change has been concluded to be immaterial to the consolidated financial statements and has no impact on previously reported consolidated statements of operations, comprehensive operations, and cash flows. The fiscal year end of the Company is December 31. All references to the “Company”, “we”, “our” or “us” in this report are to Bumble Inc. |
Summary of Selected Significant
Summary of Selected Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Selected Significant Accounting Policies | Note 2 - Summary of Selected Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain judgments, estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses. The Company’s significant estimates relate to income taxes, the fair value and useful lives of assets acquired and liabilities assumed in the Sponsor Acquisition, the recoverability of long-lived assets and goodwill, potential obligations associated with legal contingencies, the fair value of contingent consideration, and the fair value of derivatives and stock-based compensation. These estimates are based on management’s best estimates and judgment. Actual results may differ from these estimates. Estimates, judgments and assumptions are continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Uncertainty about these assumptions, judgments and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. Cash and Cash Equivalents Cash and cash equivalents include cash in banks, cash on hand, cash in electronic money accounts and overnight deposits. Accounts Receivable Accounts receivable are recorded net of an allowance for credit losses, potential chargebacks and refunds issued to users. The amount of this allowance is primarily based upon historical experience and future economic expectations. The Company maintains an allowance for expected credit losses to provide for the estimated amount of accounts receivable that will not be collected. The Company determines if an allowance is needed by considering a number of factors, including the Company’s previous loss history, the length of time accounts receivable are past due, the specific customer’s ability to pay the obligation to the Company, reasonable and supportable forecasts of future economic conditions, and the current economic condition of the general economy. No allowance for credit losses was recorded as of December 31, 2021 and 2020, as all accounts receivable were considered collectible. Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash and cash equivalents and accounts receivable. Cash and cash equivalents are principally maintained with major financial institutions, which management assesses to be of high credit quality, in order to limit exposure of investments. The Company has not experienced any losses on these deposits. The Company’s accounts receivable balances are predominantly with third-party aggregators and these are subject to normal credit risks which management believes to be not significant. As of December 31, 2021, one third party aggregator accounted for approximately 71 % of the Company’s gross accounts receivable. As of December 31, 2020, two third party aggregators accounted for approximately 56 % and 14 %, of the Company’s gross accounts receivable, respectively. As of December 31, 2019, three third party aggregators accounted for approximately 48 %, 12 % and 10 % of the Company’s gross accounts receivable, respectively. Leases Company as a lessee Under ASC 842, Leases , (“ASC 842”), the Company determines whether an arrangement is or contains a lease at contract inception. Right-of-use assets and lease liabilities, which are disclosed on the consolidated balance sheets, are recognized at the commencement date of the lease based on the present value of the lease payments over the lease term using the Company’s incremental borrowing rate on the lease commencement date. If the lease contains an option to extend the lease term, the renewal option is considered in the lease term if it is reasonably certain that the Company will exercise the option. Operating lease expense is recognized on a straight-line basis over the term of the lease. Short-term leases, defined as leases with an initial term of twelve months or less, are not recorded on the consolidated balance sheets. Company as a lessor Amounts due from lessees under finance leases are recorded as receivables at the amount of the Company’s lease receivable. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company’s lease receivable. Rental income from operating leases is recognized on a straight-line basis over the term of the lease. Property and Equipment, net Property and equipment, net is stated at cost less accumulated depreciation and accumulated impairment, if any. Cost of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Leasehold improvements — 5 years or remaining lease term Furniture and fixtures — 4 years Computer equipment — 3 years Internal-Use Software The Company incurs costs to develop software to be used solely to meet internal needs and applications used to deliver its services. These software development costs meet the criteria for capitalization once the preliminary project stage is complete and it is probable that the project will be completed, and the software will be used to perform the function intended. Costs capitalized during the application development stage include salaries, benefits, bonus, stock-based compensation, and taxes for employees who are directly involved in the development of new products or features, direct costs of materials and services incurred in developing or obtaining internal-use software and interest costs incurred, if applicable. Costs associated with post implementation activities are expensed as incurred. Capitalized software development costs are classified as intangibles, net on the consolidated balance sheets. The cost of internal-use software is amortized on a straight-line method over the estimated useful life of the applicable software which is typically three years . Impairment of Long-lived Assets Long-lived assets, which consist of property and equipment and right-of-use assets, are reviewed for impairment whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying value is deemed not to be recoverable, an impairment loss is recorded equal to the amount by which the carrying value of the long-lived asset exceeds its fair value. The remaining estimated useful lives of property and equipment and right-of-use assets are routinely reviewed and, if the estimate is revised, the remaining unamortized balance is amortized or depreciated over the revised estimated useful life. Business Combination The Company accounts for business combinations using the acquisition method of accounting. The purchase price of the Sponsor Acquisition is allocated to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, including identifiable intangible assets. Any excess of the amount paid over the estimated fair values of the identifiable net assets acquired is allocated to goodwill. These fair value determinations require judgment and involve the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives and market multiples, among other items. In connection with the Sponsor Acquisition, the Company entered into a contingent earn-out arrangement that was determined to be part of the purchase consideration. The Company classified the arrangement as a liability at the time of the Sponsor Acquisition, as it will be settled in cash, and reflected the change in the liability at its current fair value for each subsequent reporting period thereafter until settled. The changes in the remeasured fair value of the contingent earn-out liability during each reporting period is recognized in “General and administrative expense” in the accompanying consolidated statements of operations. See Note 6 , Business Combination , for additional information. Transaction costs associated with business combinations are expensed as incurred. Goodwill and Intangible Assets, net Intangible assets are stated at cost less accumulated amortization and accumulated impairment, if any. Amortization is calculated on a straight-line basis over the estimated useful lives of the definite-lived intangible assets, as follows: User base — 2.5 years White label contracts — 8 years Trademark — 10 years Domain — 3 years Developed technology — 5 years Brand names are indefinite-lived intangible assets and not amortized. Intangible assets with definite lives are reviewed for impairment whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying value is deemed not to be recoverable, an impairment loss is recorded equal to the amount by which the carrying value of the long-lived asset exceeds its fair value. The remaining estimated useful lives of definite-lived intangible assets are routinely reviewed and, if the estimate is revised, the remaining unamortized balance is amortized over the revised estimated useful life. The Company assesses goodwill on the one reporting unit and indefinite-lived intangible assets for impairment annually as of October, 1, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or the fair value of an indefinite-lived intangible asset below its carrying value. When the Company elects to perform a qualitative assessment and concludes it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no further assessment of that reporting unit’s goodwill is necessary; otherwise, a quantitative assessment is performed and the fair value of the reporting unit is determined. If the carrying value of the reporting unit exceeds its fair value an impairment loss equal to the excess is recorded. During the fourth quarter of the year ended December 31, 2021, the Company determined that an individual definite long-lived asset was impaired and recognized an impairment charge of $ 26.4 m illion in "general and administrative expense" within the accompanying consolidated statement of operations. No impairment charges were recorded for goodwill and indefinite-lived intangibles. See Note 8, Goodwill and Intangible Assets , net for additional information on impairment. Investments The Company has certain investments in privately held companies and limited partnerships. These investments are carried at cost, less any impairments, and are adjusted for subsequent observable price changes obtained from orderly transactions for identical or similar investments issued by the same investee in accordance with ASC 321, Certain investment in Debt and Equity Securities . The investments are included in other assets in the accompanying consolidated balance sheets. Any gains or losses are recorded to other income (loss), net on the accompanying consolidated statement of operations. Fair Value Measurements The Company follows ASC 820, Fair Value Measurement , for financial assets and liabilities measured on a recurring basis. Other assets and liabilities are subject to fair value measurements only in certain circumstances, including purchase accounting in a business combination and long-lived assets that are written down to fair value when they are impaired. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company applies the fair value hierarchy to categorize the financial instruments measured at fair value based on the available inputs to the valuation and the degree to which they are observable or not observable in the market. The three levels of the fair value hierarchy are as follows: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Assets and liabilities valued based on observable market data for similar instruments, such as quoted prices for similar assets or liabilities. • Level 3—Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available. See Note 10, Fair Value Measurements , net for additional information. Derivatives The Company uses interest rate derivative instruments to manage the risk related to fluctuating cash flows from interest rate changes on the debt. These instruments are not designated as hedges for accounting purposes and are recorded in "Other assets" or “Other liabilities,” with changes in fair value recognized in “Other expense, net.” Revenue Recognition The Company recognizes revenue from services in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Under ASC 606, the Company recognizes revenue when or as the Company’s performance obligations are satisfied by transferring control of the promised services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps as prescribed by ASC 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies performance obligations. The Company only applies the five-step model to contracts when it is probable that it will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determine those that are performance obligations and assess whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Revenue is primarily derived in the form of recurring subscriptions and in-app purchases. Subscription revenue is presented net of taxes, refunds and credit card chargebacks. This revenue is initially deferred and is recognized using the straight-line method over the term of the applicable subscription period. Revenue from lifetime subscriptions is deferred over the average estimated expected period of the subscriber relationship, which is currently estimated to be twelve months. Revenue from the purchase of in-app features is recognized based on usage. Unused in-app purchase fees expire and are recognized as revenue after six months. The Company also earns revenue from online advertising and partnerships. Online advertising revenue is recognized when an advertisement is displayed. Revenue from partnerships is recognized according to the contractual terms of the partnership. As permitted under the practical expedient available under ASC 606, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts for which the Company recognizes revenue at the amount which it has the right to invoice for services performed. During the year ended December 31, 2021 , the period from January 29, 2020 to December 31, 2020, the period from January 1, 2020 to January 28, 2020 and the year ended December 31, 2019, there were no customers representing greater than 10 % of total revenue. For the periods presented, revenue across apps was as follows (in thousands): Successor Predecessor (in thousands) Year Period from Period from Year Bumble App $ 532,916 $ 337,237 $ 23,256 $ 275,545 Badoo App and Other 232,744 204,955 16,734 213,395 Total Revenue $ 765,660 $ 542,192 $ 39,990 $ 488,940 Assets Recognized from the Costs to Obtain a Contract with a Customer The Company has determined that certain costs paid to third party aggregators, primarily mobile app store fees, meet the requirements to be capitalized as a cost of obtaining a contract. These costs are capitalized and amortized over the period of contract performance, typically over the term of the applicable subscription period. Deferred Revenue Deferred revenue consists of advance payments that are received or are contractually due in advance of the Company’s performance. The Company’s deferred revenue is reported on a contract by contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the term of the applicable subscription period or expected completion of the performance obligation is one year or less. The deferred revenue balance is $ 39.9 million and $ 31.3 million at December 31, 2021 and 2020, respectively. During the year ended December 31, 2021, the period from January 29, 2020 to December 31, 2020, the period from January 1, 2020 to January 28, 2020 and the year ended December 31, 2019, the Company recognized revenue of $ 31.3 million, $ 9.6 million $ 10.6 million and $ 23.4 million, respectively, that was included in the deferred revenue balance at the beginning of each period. Advertising Costs Advertising costs are expensed in the period in which the services are first delivered to the Company. Where media space is purchased in advance, expense is deferred until the advertising service has been received by the Company. Advertising costs represent online marketing, including fees paid to search engines and social media sites, brand marketing such as out of home and television advertis ing, field marketing and partner-related payments to those who direct traffic to the Company’s platforms. Advertising expense was $ 175.0 million, $ 138.0 million, $ 9.8 million, and $ 130.4 million for the year ended December 31, 2021, the period from January 29, 2020 to Dec ember 31, 2020, for the period from January 1, 2020 to January 28, 2020, and the year ended December 31, 2019, respectively. Debt Issuance Costs Costs incurred in connection with obtaining new debt financing are deferred and amortized over the life of the related financing. If such financing is settled or replaced prior to maturity with debt instruments that have substantially different terms, the settlement is treated as an extinguishment and the unamortized costs are charged to gain or loss on extinguishment of debt. If such financing is settled or replaced with debt instruments from the same lender that do not have substantially different terms, the new debt agreement is accounted for as a modification for the prior debt agreement and the unamortized costs remain capitalized, the new original issuance discount costs are capitalized, and any new third-party costs are charged to expense. Deferred costs are recognized as a direct reduction in the carrying amount of the debt instrument on the consolidated balance sheets and are amortized to interest expense over the term of the related debt using the effective interest method. Income Taxes The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company records interest (and penalties where applicable), net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax provision. The Company evaluates and accounts for uncertain tax positions using a two-step approach. Recognition (step one) occurs when the Company concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustainable upon examination. Measurement (step two) determines the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Derecognition of a tax position that was previously recognized would occur when the Company subsequently determines that a tax position no longer meets the more likely-than-not threshold of being sustained. Payable to Related Parties Pursuant to Tax Receivable Agreement In connection with our IPO, the Company entered into a tax receivable agreement with certain pre-IPO owners whereby the Company agreed to pay to such pre-IPO owners 85 % of the benefits that the Company realizes, or is deemed to realize, as a result of our allocable share of existing tax basis acquired in the IPO, increases in our share of existing tax basis and adjustments to the tax basis of the assets of Bumble Holdings as a result of sales or exchanges of Common Units (including Common Units issued upon conversion of vested Incentive Units), and our utilization of certain tax attributes of the Blocker Companies (including the Blocker Companies’ allocable share of existing tax basis) and certain other tax benefits related to entering into the tax receivable agreement. Actual tax benefits realized by the Company may differ from tax benefits calculated under the tax receivable agreement as a result of the use of certain assumptions in the tax receivable agreement, including the use of an assumed weighted-average state and local income tax rate to calculate tax benefits. Payments to be made under the tax receivable agreement will depend upon a number of factors, including the timing and amount of our future income. The Company accounts for amounts payable under the tax receivable agreement in accordance with ASC Topic 450, Contingencies . As such, subsequent changes in the fair value of the tax receivable agreement liability between reporting periods are recognized in the statement of operations. See Note 5, Payable to Related Parties Pursuant to a Tax Receivable Agreement , for additional information on the tax receivable agreement . Foreign Currencies The Company’s consolidated financial statements are presented in U.S. dollars, which is the Company’s functional currency. The financial position and operating results of foreign entities whose primary economic environment is based on their local currency are consolidated using the local currency as the functional currency. These local currency assets and liabilities are translated into U.S. dollars at the rates of exchange as of the balance sheet date, and local currency revenue and expenses of these operations are translated at average rates of exchange during the period. Translation gains and losses are included in accumulated other comprehensive income as a component of shareholders’ equity. Transaction gains and losses resulting from assets and liabilities denominated in a currency other than the functional currency are included in “Other expense, net” in the accompanying consolidated statements of operations. For the year ended December 31. 2021, the period from January 29, 20 20 to December 31, 2020, the period from January 1, 2020 to January 28, 2020, and the year ended December 31, 2019, the Company recorded a gain (loss) of $ 4.5 millio n, $( 14.1 ) million, $( 0.6 ) million, and $( 1.2 ) million, respectively. Earnings (Loss) per Share/Unit Basic earnings (loss) per unit is computed by dividing net earnings (loss) attributable to the Company by the weighted average number of common units outstanding during the period. Diluted earnings (loss) per unit is computed by dividing net earnings (loss) attributable to the Company by the weighted-average units outstanding during the period after adjusting for the impact of securities that would have a dilutive effect on earnings (loss) per unit. All earnings (loss) for the Predecessor period from January 1, 2020 to January 28, 2020 and for the year ended December 31, 2019 were entirely allocable to Predecessor shareholders and non-controlling interest. Additionally, due to the impact of the Sponsor Acquisition, the Company’s capital structure for the Predecessor and Successor periods is not comparable. As a result, the presentation of earnings (loss) per share for the periods prior to such transaction is not meaningful and only earnings (loss) per unit for periods subsequent to the Sponsor Acquisition are presented herein. See Note 13, Earnings ( Loss) per Share/Unit, for additional information on dilutive securities. Stock-Based Compensation The Company issues stock-based awards to employees that are generally in the form of stock options, restricted shares, incentive units, or restricted stock units (“RSUs”). Compensation cost for equity awards is measured at their grant-date fair value, and in the case of restricted shares and RSUs is estimated based on the fair value of the Company’s underlying common stock. The grant date fair value of stock options and incentive units is estimated using the Black-Scholes option pricing model for time-vesting awards or a Monte Carlo simulation approach in an option pricing framework for exit-vesting awards. These require management to make assumptions with respect to the fair value of the Company’s common stock on the grant date, including the expected term of the award, the expected volatility of the Company’s stock calculated based on a period of time generally commensurate with the expected term of the award, risk-free interest rates and expected dividend yields of the Company’s stock. For time-vesting awards, compensation cost is recognized over the requisite service period, which is generally the vesting period, using the graded attribution method. For performance-based stock awards, compensation expense is recognized over the requisite service period on a straight-line basis when achievement is probable. At the IPO date, we concluded that our public offering represented a qualifying liquidity event that would cause the performance conditions to be probable. For periods prior to the Company’s IPO, the grant date fair value of stock-based compensation awards and the underlying equity were determined on each grant date using a Monte Carlo model. As the Company's equity was not publicly traded, there was no history of market prices for the Company's equity. Thus, estimating grant date fair value required the Company to make assumptions, including the value of the Company's equity, expected time to liquidity, and expected volatility. See Note 14, Stock-based Compensation, for a discussion of the Company’s stock-based compensation plans and awards. Recently Issued Pronouncements Not Yet Adopted In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers , as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities are recognized by the acquirer at fair value on the acquisition date. This new guidance is effective for the Company for its fiscal year beginning January 1, 2023 and interim periods within that fiscal year, and early adoption is permitted. The Company is currently evaluating the impact of adopting the new accounting guidance on its consolidated financial position, results of operations and cash flows. In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU” 2020-04) and related amendments on Reference Rate Reform , which provided optional guidance and exceptions to for applying GAAP to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued because of reference rate reform if certain criteria are met. The amendments are effective prospectively at any point through December 31, 2022. The Company continues to evaluate the potential impact of adopting this new accounting guidance on its consolidated financial position, results of operations and cash flows. The Company plans to adopt the pronouncement during the fiscal year ending December 31, 2022. |
Stockholders Equity
Stockholders Equity | 12 Months Ended |
Dec. 31, 2021 | |
Class Of Stock [Line Items] | |
Stockholders Equity | Note 12 – Shareholders’ Equity Equity Structure Prior to Initial Public Offering and Reorganization Limited Partner’s Interest On January 29, 2020, Bumble Holdings, and the wholly owned indirect subsidiary, Buzz Merger Sub Limited, executed the Merger Agreement with Worldwide Vision Limited whereby Bumble Holdings agreed to purchase all of the outstanding equity interest of Worldwide Vision Limited (see Note 6, Business Combination ). In conjunction with the Sponsor Acquisition, the equity that was in existence in the Predecessor periods was settled and no longer outstanding subsequent to January 29, 2020. Prior to the IPO, Limited Partners' Interest was inclusive of Capital Contribution from the Parent, Additional Paid-in Capital, and Retained Earnings. The capital structure of Bumble Holdings consisted of two different classes of limited partnership interests, Class A and Class B units. Class A units were issued and held by Blackstone, an affiliate of Accel Partners LP., our Founder, and certain members of senior management in exchange for capital contributions (“Class A Units”). Class B units were issued to senior management, select members of the Company's board of directors (the “Board”) and select employees of Bumble Holdings and represent profit interests of Bumble Holdings which vest subject to certain service and performance conditions. As of December 31, 2020, there were 2,453,784,599 units of Class A and 153,273,895 units of Class B outstanding. Noncontrolling Interests Prior to the IPO, the Company’s noncontrolling interests represented a reserve for minority interests’ share of accumulated profits and losses of Huggle App (UK) Limited and Lumen App Limited and pre-Sponsor Acquisition, Bumble Holding Limited and its subsidiaries. Initial Public Offering On February 16, 2021, the Company completed its IPO of 57.5 million shares of Class A common stock at an offering price of $ 43 per share. The Company received net proceeds of $ 2,361.2 million after deducting underwriting discounts and commissions. The Company used the proceeds from the issuance of 48.5 million shares ($ 1,991.6 million) in the IPO to redeem shares of Class A common stock and purchase Common Units from entities affiliated with our Sponsor, at a price per share / Common Unit equal to the IPO price, net of underwriting discounts and commissions. The Company used a portion of the proceeds from the issuance of 9.0 million shares ($ 369.6 million) in the IPO to repay $ 200.0 million of outstanding indebtedness. Secondary Offering On September 15, 2021, the Company completed a secondary offering of 20.7 million shares of Class A common stock on behalf of certain selling stockholders affiliated with Blackstone Inc. (the "Selling Stockholders") at a price of $ 54.00 per share. This transaction resulted in the issuance of 9.2 million shares of Class A common stock for the period ending September 30, 2021. Bumble did not sell any shares of Class A common stock in the offering and did not receive any of the proceeds from the sale. Bumble paid the costs associated with the sale of shares by the Selling Stockholders, net of the underwriting discounts. Reorganization Prior to the IPO, on February 10, 2021 the limited partnership agreement of Bumble Holdings was amended and restated, resulting in the following: • Bumble Inc. became the general partner of Bumble Holdings with 100 % of the voting power and control of the management of Bumble Holdings. • All outstanding Class A Units were either (1) reclassified into a new class of limited partnership interest referred to as “Common Units”, or (2) directly or indirectly exchanged for vested shares of Class A common stock of Bumble Inc. • All outstanding Class B Units were either (1) reclassified into a new class of limited partnership interest referred to as “Incentive Units”, or (2) directly or indirectly exchanged for vested shares of Class A common stock of Bumble Inc. (in the case of vested Class B Units) and restricted shares of Class A common stock of Bumble Inc. (in the case of unvested Class B Units). • Recognition of a noncontrolling interest due to the Pre-IPO Shareholders retaining an economic interest in Bumble Holdings related to Common Units not exchanged for vested shares of Class A common stock. As part of the Reorganization Transactions, the Blocker Companies entered into certain restructuring transactions that resulted in the Pre-IPO Shareholders acquiring newly issued shares of Class A common stock in exchange for their ownership interests in the Blocker Companies and the Company acquiring an equal number of outstanding Common Units. Additionally, Bumble Inc. and the holders of all Common Units entered into an exchange agreement in which the holders of the Common Units will have the right on a quarterly basis to exchange their Common Units for shares of Class A common stock of the Company on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. Subsequent to the Reorganization Transactions, our Sponsor effected certain exchanges of Common Units for Class A shares that were contemplated to have occurred pursuant to the Blocker Restructuring, with the net change to the capital structure being 4,455,510 Common Units in Bumble Holdings being exchanged on April 1, 2021, on a one-for-one basis, for Class A common stock in the Company. We gave retrospective effect to these transactions when estimating our tax receivable agreement liability, see Note 4 – Income Taxes . Amendment and Restatement of Certificate of Incorporation The Company’s amended and restated certificate of incorporation has three classes of ownership interests: 6,000,000,000 shares of Class A common stock, par value $ 0.01 per share, 1,000,000 shares of Class B common stock, par value $ 0.01 per share, and 600,000,000 shares of preferred stock, par value $ 0.01 per share. Class A Common Stock Shares of Class A common stock have both voting and economic rights. Holders of Class A common stock are entitled to one vote for each share of Class A common stock held. Notwithstanding the foregoing, unless they elect otherwise, our Founder and affiliates of Blackstone (collectively, the “Principal Stockholders”) are entitled to outsized voting rights. Until the High Vote Termination Date (as defined below), each share of Class A common stock held by a Principal Stockholder is entitled to ten votes . “High Vote Termination Date” means the earlier to occur of (i) seven years from the closing of this offering and (ii) the date the parties to the stockholders agreement cease to own in the aggregate 7.5 % of the outstanding shares of Class A common stock, assuming exchange of all Common Units. Shares of Class A common stock are entitled to dividends and pro rata distribution of remaining available assets upon liquidation. Shares of Class A common stock do not have preemptive, subscription, redemption or conversion rights. As of December 31, 2021 and 2020, there were 129,212,949 and 0 shares of Class A common stock outstanding. Class B Common Stock Shares of Class B common stock have voting but no economic rights. Holders of Class B common stock generally are entitled, without regard to the number of shares of Class B common stock held by such holder, to one vote for each Common Unit of Bumble Holdings held by such holder. Notwithstanding the foregoing, unless they elect otherwise, each Principal Stockholder that holds Class B common stock is entitled to outsized voting rights. Until the High Vote Termination Date, each Principal Stockholder that holds Class B common stock is entitled, without regard to the number of shares of Class B common stock held by such Principal Stockholder, to a number of votes equal to 10 times the aggregate number of Common Units of Bumble Holdings held by such Principal Stockholder. Shares of Class B common stock do not have any right to receive dividends or distribution upon liquidation. As of December 31, 2021 and 2020, there were 20 and 100 shares of Class B common stock outstanding. Preferred Stock The Company is authorized to issue, without the approval of its stockholders, one or more series of preferred stock. The Board may determine, with respect to any series of preferred stock, the powers (including voting powers), preferences and relative, participating, optional or other special rights. As of December 31, 2021 and 2020, no preferred stock has been issued. Treasury Stock During the three months ended March 31, 2021, the Company used a portion of the proceeds from the issuance of 48.5 million shares in the IPO to redeem shares of Class A common stock from the pre-IPO owners. Repurchases of the Company's common stock are included in treasury stock at the cost of shares repurchased. During the three months ended June 30, 2021, the Company retired and restored the treasury stock to the status of authorized, but unissued, shares of Class A Common Stock. Distributions No dividends were paid in the year ended December 31, 2021 . During the period from January 29, 2020 to December 31, 2020, the Company declared a dividend of $ 360.0 million to the pre-IPO owners, of which approximately $ 334.3 million was paid by the Company on October 28, 2020 and $ 25.6 million of which was used by Whitney Wolfe Herd to partially repay the loan to Founder, and to pay related fees and expenses in connection therewith. The dividend that was paid on October 28, 2020 and the Founder Loan repayment is accounted for as an increase to Limited Partners’ Interest. During the year ended December 31, 2019, the Company paid dividends of $ 5.4 million to the unitholders that are outside the Company. No dividends were paid in the period from January 1, 2020 to January 28, 2020. No dividends were outstanding at December 31, 2021, 2020 and 2019. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases | Note 3 - Leases Company as a lessee The Company has operating leases for office space, data centers and other facilities in several states and international locations. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. Generally, the leases have initial terms ranging from one to eight years. Renewal options are not recognized as part of the right-of-use assets and lease liabilities as it is not reasonably certain at the lease commencement date that we will exercise these options to extend the leases. The Company elected certain practical expedients under ASC 842 which allow us to combine lease and non-lease components of lease payments in determining right-of-use assets and related lease liabilities. We also elected the short-term lease exception. Leases with an initial term of twelve-months or less that do not include an option to purchase the underlying asset are not recorded on the consolidated balance sheets and are expensed on a straight-line basis over the lease term. Expenses related to short-term leases were $ 0.4 million, $ 0.3 million, $ 0.0 million and $ 0.5 million for the year ended December 31, 2021, the period from January 29, 2020 to December 31, 2020 and the period from January 1, 2020 to January 28, 2020 and the year ended December 31, 2019, respectively. Components of lease cost included in general and administrative expenses on the consolidated statement of operations are as follows (in thousands): Successor Predecessor Lease cost Year Period from Period from Year Operating lease cost $ 5,438 $ 4,165 $ 410 $ 5,704 Expense relating to short-term leases 363 331 36 467 Income from subleasing right-of-use assets ( 561 ) ( 502 ) ( 46 ) ( 559 ) Total lease cost $ 5,240 $ 3,994 $ 400 $ 5,612 Supplemental cash flow information related to leases is as follows (in thousands): Successor Predecessor Year Period from Period from Year Cash paid for amounts included in the measurement of lease liabilities $ 5,464 $ 5,886 $ 633 $ 4,753 Right-of-use assets obtained in exchange for lease liabilities 19,570 146 — 2,960 During the year ended December 31, 2021, the Company has extended the leases on its properties in the United States and other countries, resulting in an increase of $ 19.6 million in right-of-use assets and a corresponding increase in lease liabilities. Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate): December 31, December 31, 2021 2020 Assets: Right-of-use assets $ 26,410 $ 11,711 Liabilities: Accrued expenses and other current liabilities $ 3,898 $ 4,933 Other liabilities 21,711 5,831 Total operating lease liabilities $ 25,609 $ 10,764 Weighted average remaining operating lease term (years) 6.8 2.9 Weighted average operating lease discount rate 5.0 % 6.5 % The Company’s leases do not provide a readily determinable implicit discount rate. The Company estimates its incremental borrowing rate as the discount rate based on the information available at lease commencement. As the Company enters into operating leases in multiple jurisdictions and denominated in currencies other than the U.S. dollar, judgment is used to determine the Company’s incremental borrowing rate including (1) conversion of the subordinated borrowing rate (using published yield curves) to an unsubordinated and collateralized rate, (2) adjusting the rate to align with the term of each lease, and (3) adjusting the rate to incorporate the effects of the currency in which the lease is denominated. Future maturities on lease liabilities as of December 31, 2021, are as follows (in thousands): Years Ended December 31, 2022 $ 4,037 2023 5,238 2024 2,109 2025 5,584 2026 5,241 Thereafter 8,105 Total lease payments 30,314 Less: imputed interest ( 4,705 ) Total lease liabilities $ 25,609 There were no leases with residual value guarantees or executed leases that had not yet commenced as of December 31, 2021 and 2020. Company as a lessor In prior periods, the Company had classified a lease as a finance lease as it was reasonably certain that the lessee would exercise its option to purchase the property at the end of the lease. During the fourth quarter of 2021, the lessee exercised its option and the Company sold its legal and beneficial interest in the leased property which it had acquired in 2019 for an immaterial gain which is included in “Other income (expense), net” in the accompanying consolidated statements of operation. Sublease considerations The Company is also a sublessor on two operating leases that expire through 2023. The Company recorded $ 0.6 million, $ 0.5 million and $ 0.0 million in sublease income during the year ended December 31, 2021 , the period from January 29, 2020 to December 31, 2020 and the period from January 1, 2020 to January 28, 2020, respectively. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 4 - Income Taxes The Company is a corporation for U.S. federal and state income tax purposes. Each of the Company's accounting predecessor, Bumble Holdings, and Bumble Holdings’ accounting predecessor, Worldwide Vision Limited, is, and has been since the Sponsor Acquisition, treated as a flow-through entity for U.S. federal income tax purposes and as such, has generally not been subject to U.S. federal income tax at the entity level. Accordingly, the historical results of operations and other financial information set forth in this Annual Report do not include any material provisions for U.S. federal income tax. Following our initial public offering, the Company is subject to U.S. federal and state income tax as a corporation on its share of Bumble Holdings’ taxable income. U.S. and foreign (loss) earnings before income taxes and noncontrolling interests are as follows (in thousands): Successor Predecessor Year Period Period U.S. $ ( 177,893 ) $ ( 41,703 ) $ ( 168 ) Foreign 28,767 ( 60,357 ) ( 32,023 ) Total $ ( 149,126 ) $ ( 102,060 ) $ ( 32,191 ) The components of the income tax (benefit) provision are as follows (in thousands): Successor Predecessor Year Period Period Current income tax (benefit) provision: State $ ( 122 ) $ 162 $ — Foreign 10,680 8,753 452 Current income tax provision $ 10,558 $ 8,915 $ 452 Deferred income tax (benefit) provision: Federal $ 192 $ ( 100 ) $ — State — ( 91 ) — Foreign ( 446,821 ) ( 598 ) ( 87 ) Deferred income tax (benefit) provision ( 446,629 ) ( 789 ) ( 87 ) Income tax (benefit) provision $ ( 436,071 ) $ 8,126 $ 365 The income tax benefit of $ 436.1 million recorded in the year ended December 31, 2021 includes a $ 441.5 million deferred tax benefit related to the reversal of net deferred tax liabilities recorded at our Maltese and UK entities due to a restructuring of our international operations which occurred on January 1, 2021. In addition, the income tax benefit for the year ended December 31, 2021, reflects the impact of our assessment that we will not be able to realize the benefit of certain deferred tax assets arising in the current year for which a valuation allowance has been recorded. The tax effects of cumulative temporary differences that give rise to significant deferred tax assets and deferred tax liabilities are presented below (in thousands): December 31, December 31, 2021 2020 Deferred tax assets: Investment in partnership $ 164,220 $ — Depreciation and amortization 275 — Net operating loss 42,229 8,373 Interest expense carry forward 1,530 — Tax Receivable Agreement 31,223 — Share-based compensation 14,405 — Other 2,991 4,553 Total deferred tax assets 256,873 12,926 Less: Valuation allowance ( 237,783 ) ( 8 ) Deferred tax assets, net of valuation allowance $ 19,090 $ 12,918 Deferred tax liabilities: Depreciation and amortization — ( 441,005 ) Total deferred tax liabilities — ( 441,005 ) Deferred tax (liabilities) assets, net $ 19,090 $ ( 428,087 ) As of December 31, 2021, the Company had deferred tax assets related to federal, state and foreign net operating loss carryforwards of $ 34.4 million, $ 4.1 million and $ 1.7 million, respectively. Both the federal and foreign net operating losses can be carried forward indefinitely. We recognize deferred tax assets to the extent we believe these assets are more likely than not to be realized. In making such a determination, we consider all positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent results of operations. A valuation allowance is provided if it is determined that it is more likely than not that the deferred tax asset will not be realized. After consideration of all positive and negative evidence, we have recorded a valuation allowance with respect to our U.S. federal and state deferred tax assets relating to the investment in partnership, net operating loss carryforwards, interest expense carryforwards and the TRA Liability. For the rest of the deferred tax assets in our foreign jurisdictions, a valuation allowance was not deemed necessary based upon our determination that these deferred tax assets are more likely than not to be realized. A reconciliation of the statutory federal effective tax rate to the effective tax rate is as follows: Successor Predecessor Year Period Period Income tax provision at the statutory rate (1) 21 % 35 % 35 % Nondeductible expenses (1 )% ( 77 )% ( 39 )% State taxes, net of federal benefit 1 % — — Non-controlling interest ( 14 )% — — Effect of foreign taxes ( 3 )% — — Share-based compensation ( 3 )% 1 % (1 )% Impact of IP realignment 296 % — — Tax rebate — 28 % 0 % Tax rate differential — 25 % 4 % Valuation allowance (4 )% 0 % 0 % Tax rate change — ( 22 )% 0 % Other ( 1 )% 2 % 0 % Income tax provision 292 % ( 8 )% ( 1 )% (1) The effective tax rate for the year ended December 31, 2020 was based on a primary tax domicile in Malta which has a statutory tax rate of 35 %. Due to the IPO and related restructuring involving the transfer of intangible property to the US, the primary tax domicile of the Company has moved to the United States with a statutory tax rate of 21 %. The transfer of the intangible property to the US resulted in deferred tax benefit of $ 441.5 million that is included as “Impact of IP realignment” in the rate reconciliation above. Uncertain Tax Positions We file income tax returns in each jurisdiction in which we operate, both domestically and internationally. Due to the complexity involved with certain tax matters, we have considered all relevant facts and circumstances for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. We believe that there are no other jurisdictions in which the outcome of uncertain tax matters is likely to be material to our results of operations, financial position or cash flows. We further believe that we have made adequate provision for all income tax uncertainties. A rollforward of unrecognized tax benefits, excluding accrued penalties and interest, for the year ended December 31, 2021 is as follows: Successor (in thousands) Year Balance, beginning of the period $ — Additions based on tax positions related to the current year 1,500 Balance, end of the period $ 1,500 Of the total amount of unrecognized tax benefits as of December 31, 2021, $ 1.5 million if recognized, would favorably impact our effective tax rate. We believe that the amount of unrecognized tax benefits disclosed above is reasonably possible to change significantly over the next 12 months. No interest or penalties were recognized in the consolidated statements of operations or consolidated balance sheets. To the extent we recognize interest expense and penalties related to income tax matters in the future, we will recognize the amounts within the “Income tax benefit (provision)” on our consolidated statements of operations. We currently file income tax returns in the U.S. and all foreign jurisdictions in which we have entities, which are periodically under audit by federal, state, and foreign tax authorities. These audits can involve complex matters that may require an extended period of time for resolution. We remain subject to U.S. federal and state income tax examinations for the tax years 2018 through 2021 and in the foreign jurisdictions in which we operate for varying periods from 2016 through 2021. We currently have income tax examinations open for U.S. federal tax purposes for 2019, the United Kingdom for 2019 and in Texas for 2017 through 2020. Although the outcome of open tax audits is uncertain, in management’s opinion, adequate provisions for income taxes have been made. If actual outcomes differ materially from these estimates, they could have a material impact on our financial condition and results of operations. Differences between actual results and assumptions or changes in assumptions in future periods are recorded in the period they become known. To the extent additional information becomes available prior to resolution, such accruals are adjusted to reflect probable outcomes. |
Payable to Related Parties Purs
Payable to Related Parties Pursuant to a Tax Receivable Agreement | 12 Months Ended |
Dec. 31, 2021 | |
Tax Receivable Agreement [Abstract] | |
Payable to Related Parties Pursuant to a Tax Receivable Agreement | Note 5 - Payable to Related Parties Pursuant to a Tax Receivable Agreement In connection with the Reorganization Transactions and our IPO, we entered into a tax receivable agreement with certain of our pre-IPO owners that provides for the payment by the Company to such pre-IPO owners of 85 % of the benefits, that the Company realizes, or is deemed to realize, as a result of the Company's allocable share of existing tax basis acquired in our IPO and other tax benefits related to entering into the tax receivable agreement. We estimate the amount of existing tax basis with respect to which our pre-IPO owners will be entitled to receive payments under the tax receivable agreement (assuming all Pre-IPO Common Unitholders exchanged their Common Units for shares of Class A common stock on the date of the IPO, and assuming all vested Incentive Units were converted to Common Units and immediately exchanged for shares of Class A common stock at the IPO prices of $ 43.00 per share of Class A common stock) is approximately $ 2,603 million which includes the Company’s allocable share of existing tax basis acquired in the IPO, which we have determined to be approximately $ 1,728 million. In determining the Company’s allocable share of existing tax basis acquired in the IPO, we have given retrospective effect to certain exchanges of Common Units for Class A shares that occurred after the IPO that were contemplated to have occurred pursuant to the Blocker Restructuring. The payments under the tax receivable agreement are not conditioned upon continued ownership of the Company by the pre-IPO owners. We have determined that it is more likely than not that we will be unable to realize tax benefits related to certain basis adjustments and acquired net operating losses that were received in connection with the Reorganization Transactions and our IPO. As a result of this determination, we have no t recorded the benefit of these deferred tax assets as of December 31, 2021. The realizability of the deferred tax assets is evaluated based on all positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent results of operations. We will assess the realizability of the deferred tax assets at each reporting period, and a change in our estimate of our liability associated with the tax receivable agreement may result as additional information becomes available, including results of operations in future periods. At the time of the Sponsor Acquisition, the assets and liabilities of Bumble Holdings were adjusted to fair value on the closing date of the business combination for both financial reporting and income tax purposes. As a result of the IPO transaction, we inherited certain tax benefits associated with this stepped-up basis (“Common Basis”) created when certain pre-IPO owners acquired their interests in Bumble Holdings in the Sponsor Acquisition. This Common Basis entitles us to the depreciation and amortization deductions previously allocable to the pre-IPO owners. Based on current projections, we anticipate having sufficient taxable income to be able to realize the benefit of this Common Basis and have recorded a tax receivable agreement liability to related parties of $ 388.8 million related to these benefits as of December 31, 2021. To the extent that we determine that we are able to realize the tax benefits associated with the basis adjustments and net operating losses, we would record an additional liability of $ 280.7 million for a total liability of $ 669.5 million. If, in the future, we are not able to utilize the Common Basis, we would record a reduction in the tax receivable agreement liability to related parties that would result in a benefit recorded within our consolidated statement of operations. |
Business Combination
Business Combination | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Business Combination | Note 6 - Business Combination On January 29, 2020, the Company, and the wholly owned indirect subsidiary, Buzz Merger Sub Limited, executed an Agreement and Plan of Merger (the “Merger Agreement”) with Worldwide Vision Limited whereby the Company agreed to purchase all of the outstanding equity interest of Worldwide Vision Limited, for a purchase price of approximately $ 2.9 billion, as detailed below. The Sponsor Acquisition is accounted for using the acquisition method of accounting which requires that the assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date (based on Level 3 measurements). The contingent earn-out liability is discussed in Note 10, Fair Value Measurements . The following tables summarize the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed (in thousands): Cash paid to former owners of Worldwide Vision Limited $ 2,239,827 Issued ownership interest in the Company 349,992 Cash paid to related party 125,000 Settlement of amounts owed to Worldwide Vision Limited by former owners 42,075 Buyout of minority shareholders of a subsidiary 44,750 Consideration related to holdback settlement 36,418 Fair value of contingent earn-out liability 12,900 Total purchase consideration $ 2,850,962 Purchase price allocation $ 2,850,962 Less fair value of net assets acquired: Cash and cash equivalents 53,927 Other current assets 127,464 Property and equipment 14,241 Intangible assets 1,785,000 Other noncurrent assets 17,826 Deferred revenue ( 9,600 ) Other current liabilities ( 143,293 ) Deferred income taxes ( 398,688 ) Other long-term liabilities ( 51,878 ) Net assets acquired 1,394,999 Goodwill $ 1,455,963 Goodwill is primarily attributable to assembled workforce, expected synergies and other factors. The fair values of the identifiable intangible assets acquired at the date of Sponsor Acquisition are as follows (in thousands): Acquisition Date Weighted- Brands $ 1,430,000 Indefinite Developed technology 220,000 5 User base 105,000 2.5 White label contracts 30,000 8 Total identifiable intangible assets acquired $ 1,785,000 The Company has white label contracts, whereby the Company’s platform technology is licensed to other dating apps and websites. These contracts provide on-going revenue and value to the Company. The fair values of brands and developed technology were determined using relief of royalty methodology. The fair values of user base and white label contracts were determined using excess earnings methodology. The valuations of intangible assets incorporate significant unobservable inputs and require significant judgment and estimates, including the amount and timing of future cash flows. The Company recognized approximately $ 48.2 million of transaction costs in the period from January 29, 2020 to December 31, 2020. Transaction costs incurred by the Predecessor associated with the Sponsor Acquisition were approximately $ 40.3 million and were included as an assumed liability by the Company at closing. These costs are recorded in “General and administrative expense” in the Successor and Predecessor consolidated statements of operations. The following pro forma financial information is based on the historical financial statements of the Company and presents the Company’s results as if the business combination had occurred as of January 1, 2019 (in thousands): Unaudited Pro Forma Year Ended December 31, 2020 December 31, 2019 Revenue $ 578,322 $ 477,363 Net loss ( 71,891 ) ( 98,175 ) The pro forma financial information is not indicative of the results of operations that the Company would have attained had the business combination occurred as of January 1, 2020, nor is the pro forma financial information indicative of the results of operations that may occur in the future. The unaudited pro forma information includes adjustments to reflect the $ 40.3 million of Predecessor transaction costs and the $ 48.2 million of Successor transaction costs as if they were incurred in the year ended December 31, 2019. It also reflects additional interest expense, including amortization of financing fees, associated with the debt raised to fund the business combination, and the additional amortization of intangibles associated with the business combination. Concurrent with and related to the Sponsor Acquisition, the Company sold an app that it did not intend to continue operating to one of the sellers for an amount of $ 25.2 million, which reduced the purchase price disclosed above by the same amount. |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2021 | |
Property Plant And Equipment [Abstract] | |
Property and Equipment, Net | Note 7 - Property and Equipment, net A summary of the Company’s property and equipment, net is as follows (in thousands): December 31, December 31, Computer equipment $ 21,675 $ 18,423 Leasehold improvements 7,288 5,318 Furniture and fixtures 904 861 Total property and equipment, gross 29,867 24,602 Accumulated depreciation ( 15,240 ) ( 7,769 ) Total property and equipment, net $ 14,627 $ 16,833 Depreciation expense related to property and equipment, net for the year ended December 31, 2021, the period from January 29, 2020 to December 31, 2020, the period from January 1, 2020 to January 28, 2020 and for the year ended December 31, 2019 was $ 9.1 million, $ 7.4 million, $ 0.4 million, and $ 6.7 million, respectively. For the year ended December 31, 2019, $ 20.8 million of fully depreciated computer equipment was written off. |
Goodwill and Intangible Assets,
Goodwill and Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, net | Note 8 - Goodwill and Intangible Assets, net Goodwill The changes in the carrying amount of goodwill for the periods presented is as follows: Balance as of December 31, 2020 $ 1,540,915 Goodwill adjustment, net (1) ( 803 ) Balance as of December 31, 2021 $ 1,540,112 (1) Relates to the impact of $ 0.8 million of deferred income taxes. There were no impairment charges recorded for goodwill and indefinite-lived intangibles for the year ended December 31, 2021 and 2020, respectively. Intangible Assets, net A summary of the Company’s intangible assets, net is as follows (in thousands): December 31, 2021 Gross Accumulated Impairment losses Net Carrying Weighted- Brands $ 1,511,269 $ — $ — $ 1,511,269 Indefinite Developed technology 244,813 ( 93,845 ) — 150,968 3.1 User base 112,695 ( 86,399 ) — 26,296 0.6 White label contracts 33,384 ( 6,953 ) ( 26,431 ) — — Other 9,106 ( 841 ) — 8,265 5.3 Total intangible assets, net $ 1,911,267 $ ( 188,038 ) $ ( 26,431 ) $ 1,696,798 December 31, 2020 Gross Accumulated Net Carrying Weighted- Brands $ 1,511,269 $ — $ 1,511,269 Indefinite Developed technology 244,813 ( 44,884 ) 199,929 4.1 User base 112,695 ( 41,322 ) 71,373 1.6 White label contracts 33,384 ( 3,826 ) 29,558 7.1 Other 352 ( 71 ) 281 4.0 Total intangible assets, net $ 1,902,513 $ ( 90,103 ) $ 1,812,410 During the fourth quarter of 2021, the Company identified an indicator of impairment specific to the white label contracts. As a result, the Company performed an impairment analysis which determined the asset was impaired. Accordingly, the Company recognized an impairment char ge of $ 26.4 million in the accompanying consolidated statement of operations which resulted in a write down of the asset in its entirety. The valuation of intangible assets incorporates significant unobservable inputs and requires significant judgment and estimates, including the amount and timing of future cash flows. See Note 10, Fair Value Measurements for additional information. There were no impairment charges recorded on definite-lived intangibles for the year ended December 31, 2020. Amortization expense related to intangible assets, net for the year ended December 31, 2021, the period from January 29, 2020 to December 31, 2020, the period from January 1, 2020 to January 28, 2020 and for the year ended December 31, 2019 was $ 97.9 million, $ 84.4 million, $ 0.0 million, and $ 0.1 million, respectively. As of December 31, 2021, amortization of intangible assets with definite lives is estimated to be as follows (in thousands): 2022 $ 76,928 2023 50,632 2024 49,953 2025 4,422 2026 and thereafter 1,903 Total $ 183,838 |
Other Financial Data
Other Financial Data | 12 Months Ended |
Dec. 31, 2021 | |
Other Financial Data Disclosure [Abstract] | |
Other Financial Data | Note 9 - Other Financial Data Consolidated Balance Sheets Information Other current assets are comprised of the following balances (in thousands): December 31, 2021 December 31, 2020 Capitalized aggregator fees $ 8,183 $ 5,533 Prepayments 10,989 6,435 Income tax receivable 30,563 59,364 Capitalized IPO costs — 3,033 Other receivables 3,016 7,022 Total other current assets $ 52,751 $ 81,387 Accrued expenses and other current liabilities are comprised of the following balances (in thousands): December 31, 2021 December 31, 2020 Legal liabilities $ 8,767 $ 55,144 Accrued expenses 39,849 36,184 Lease liabilities 3,898 4,933 Income tax payable 42,317 71,324 Other payables 16,651 13,401 Total accrued expenses and other current liabilities $ 111,482 $ 180,986 Other non-current liabilities are comprised of the following balances (in thousands): December 31, 2021 December 31, 2020 Lease liabilities $ 21,711 $ 5,831 Contingent earn-out liability 96,600 40,700 Stock-based compensation liabilities — 13,765 Other liabilities 935 1,894 Total other liabilities $ 119,246 $ 62,190 Consolidated Statement of Cash Flows Information Supplemental cash flow information is as follows (in thousands): Successor Predecessor Year Period from Period from Year Taxes paid $ 33,421 $ 42 $ — $ 3,996 Interest paid 22,339 19,862 — — |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 10 - Fair Value Measurements The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis (in thousands): December 31, 2021 Level 1 Level 2 Level 3 Total Fair Assets: Cash and cash equivalents $ 369,175 $ — $ — $ 369,175 Derivative asset — 5,008 — 5,008 Equity investments — — 2,610 2,610 $ 369,175 $ 5,008 $ 2,610 $ 376,793 Liabilities: Contingent earn-out liability $ — $ — $ 96,600 $ 96,600 $ — $ — $ 96,600 $ 96,600 December 31, 2020 Level 1 Level 2 Level 3 Total Fair Assets: Cash and cash equivalents $ 128,029 $ — $ — $ 128,029 Deposits on credit card 257 — — 257 Equity investments — — 1,458 1,458 $ 128,286 $ — $ 1,458 $ 129,744 Liabilities: Contingent earn-out liability $ — $ — $ 40,700 $ 40,700 Derivative liability — 1,586 — 1,586 $ — $ 1,586 $ 40,700 $ 42,286 There were no transfers between levels between December 31, 2020 and December 31, 2021. The carrying value of accounts receivable, accounts payable, income tax payable, accrued expenses and other payables approximate their fair values due to the short-term maturities of these instruments. The Company’s contingent earn-out liability that is measured at fair value on a recurring basis using significant unobservable inputs (Level 3) totaled $ 96.6 million and $ 40.7 million as of December 31, 2021 and 2020, with the total fair value movement of $ 55.9 million and $ 27.8 million for the year ended December 31, 2021 and the period from January 29, 2020 to December 31, 2020, respectively, included in “General and administrative expense.” As of December 31, 2021 , there is a contingent consideration arrangement, consisting of an earn-out payment to former shareholders of Worldwide Vision Limited of up to $ 150 million. The Company determined the fair value of the contingent earn-out liability by using a probability-weighted analysis to determine the amount of the liabilities, and, if the arrangement is long-term in nature, applying a discount rate that captures the risks associated with the obligation. The number of scenarios in the probability-weighted analyses vary; generally, more scenarios are prepared for longer duration and more complex arrangements. As of December 31, 2021 and 2020, the fair value of the contingent earn-out liability reflects a risk-free rate o f 0.5 % an d 0.3 %, respectively. The fair value of the contingent earn-out liability is sensitive to changes in the forecasts of earnings and/or the relevant operating metrics and changes in discount rates. The Company remeasures the fair value of the contingent earn-out liability each reporting period, and changes are recognized in “General and administrative expense” in the accompanying consolidated statements of operations. The contingent earn-out liability as of December 31, 2021 and 2020 is included in “Other liabilities” in the accompanying consolidated balance sheets. Asset and liabilities that are measured at fair value on a non-recurring basis include long-lived assets and indefinite-lived intangible assets. During the fourth quarter of 2021, the white label contracts were measured and recorded at fair value using unobservable inputs (Level 3). The total impairment loss recorded on those assets was $ 26.4 million as of December 31, 2021. |
Debt
Debt | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Debt | Note 11 - Debt Total debt is comprised of the following (in thousands): December 31, December 31, Term Loan due January 29, 2027 $ 638,563 $ 845,000 Less: unamortized debt issuance costs 15,624 18,786 Less: current portion of debt, net 2,588 5,338 Total long-term debt, net $ 620,351 $ 820,876 Credit Agreements On January 29, 2020, the Company and the wholly-owned subsidiaries, Buzz Bidco LLC, Buzz Merger Sub Limited, and Buzz Finco LLC (collectively, the “Borrowers”) entered into a credit agreement (the “Original Credit Agreement”). The Original Credit Agreement permitted the Company to borrow up to $ 625.0 million through a seven-year $ 575.0 million term loan (“Original Term Loan”), as well as a five-year revolving credit facility of $ 50.0 million and $ 25.0 million available through letters of credit. In connection with the Original Credit Agreement, the Company incurred and paid debt issuance costs of $ 16.3 million during the year ended December 31, 2020. On October 19, 2020, the Company amended the Original Credit Agreement and entered into the First Amendment to the Credit Agreement (the “Amended Credit Agreement”), which provides for incremental borrowing of an aggregate principal amount of $ 275.0 million (the “Additional Term Loan”, collectively with the Original Term Loan, the “Term Loans”). The terms of the Amended Credit Agreement were unchanged from the Original Credit Agreement, and the sole purpose of the Amendment was to increase the principal available to the Company. In connection with the Amended Credit Agreement, the Company incurred and paid debt issuance costs of $ 4.8 million during the year ended December 31, 2020. On March 31, 2021, the Company used proceeds from the IPO to repay outstanding indebtedness on the Incremental Term Loan Facility in an aggregate principal amount of $ 200.0 million, which has prepaid our obligated principal repayments until maturity on the Incremental Term Loan and, as a result, has reduced our contractual obligations. Based on the calculation of the applicable consolidated total leverage ratio, the applicable margin for borrowings under the revolving credit facility is between 1.00 % to 1.50 % with respect to base rate borrowings and between 2.00 % and 2.50 % with respect to LIBOR rate borrowings. The interest rates in effect for the Original Term Loan and the Additional Term Loan as of December 31, 2021 were 2.84 % and 3.75 %, respectively. The Term Loans will mature on January 29, 2027 and principal amounts outstanding under the revolving credit facility will be due and payable in full at maturity on January 29, 2025 . As of December 31, 2021, and at all times during the period, the Company was in compliance with the financial debt covenants. As the loans are issued with a floating rate of interest, the Company believes that the fair value of the obligations is approximated by the principal amount of the loans as of December 31, 2021. The carrying value of the Term Loans includes the outstanding principal amount, less unamortized debt issuance costs. Therefore, the Company assumes the carrying value of the debt, before any transaction costs, would closely approximate the fair value of the loan obligation with the assumptions above. Future maturities of long-term debt as of December 31, 2021, were as follows (in thousands): 2022 $ 5,750 2023 5,750 2024 5,750 2025 5,750 2026 and thereafter 615,563 Total $ 638,563 |
Shareholders_ Equity
Shareholders’ Equity | 12 Months Ended |
Dec. 31, 2021 | |
Stockholders Equity Note [Abstract] | |
Shareholders’ Equity | Note 12 – Shareholders’ Equity Equity Structure Prior to Initial Public Offering and Reorganization Limited Partner’s Interest On January 29, 2020, Bumble Holdings, and the wholly owned indirect subsidiary, Buzz Merger Sub Limited, executed the Merger Agreement with Worldwide Vision Limited whereby Bumble Holdings agreed to purchase all of the outstanding equity interest of Worldwide Vision Limited (see Note 6, Business Combination ). In conjunction with the Sponsor Acquisition, the equity that was in existence in the Predecessor periods was settled and no longer outstanding subsequent to January 29, 2020. Prior to the IPO, Limited Partners' Interest was inclusive of Capital Contribution from the Parent, Additional Paid-in Capital, and Retained Earnings. The capital structure of Bumble Holdings consisted of two different classes of limited partnership interests, Class A and Class B units. Class A units were issued and held by Blackstone, an affiliate of Accel Partners LP., our Founder, and certain members of senior management in exchange for capital contributions (“Class A Units”). Class B units were issued to senior management, select members of the Company's board of directors (the “Board”) and select employees of Bumble Holdings and represent profit interests of Bumble Holdings which vest subject to certain service and performance conditions. As of December 31, 2020, there were 2,453,784,599 units of Class A and 153,273,895 units of Class B outstanding. Noncontrolling Interests Prior to the IPO, the Company’s noncontrolling interests represented a reserve for minority interests’ share of accumulated profits and losses of Huggle App (UK) Limited and Lumen App Limited and pre-Sponsor Acquisition, Bumble Holding Limited and its subsidiaries. Initial Public Offering On February 16, 2021, the Company completed its IPO of 57.5 million shares of Class A common stock at an offering price of $ 43 per share. The Company received net proceeds of $ 2,361.2 million after deducting underwriting discounts and commissions. The Company used the proceeds from the issuance of 48.5 million shares ($ 1,991.6 million) in the IPO to redeem shares of Class A common stock and purchase Common Units from entities affiliated with our Sponsor, at a price per share / Common Unit equal to the IPO price, net of underwriting discounts and commissions. The Company used a portion of the proceeds from the issuance of 9.0 million shares ($ 369.6 million) in the IPO to repay $ 200.0 million of outstanding indebtedness. Secondary Offering On September 15, 2021, the Company completed a secondary offering of 20.7 million shares of Class A common stock on behalf of certain selling stockholders affiliated with Blackstone Inc. (the "Selling Stockholders") at a price of $ 54.00 per share. This transaction resulted in the issuance of 9.2 million shares of Class A common stock for the period ending September 30, 2021. Bumble did not sell any shares of Class A common stock in the offering and did not receive any of the proceeds from the sale. Bumble paid the costs associated with the sale of shares by the Selling Stockholders, net of the underwriting discounts. Reorganization Prior to the IPO, on February 10, 2021 the limited partnership agreement of Bumble Holdings was amended and restated, resulting in the following: • Bumble Inc. became the general partner of Bumble Holdings with 100 % of the voting power and control of the management of Bumble Holdings. • All outstanding Class A Units were either (1) reclassified into a new class of limited partnership interest referred to as “Common Units”, or (2) directly or indirectly exchanged for vested shares of Class A common stock of Bumble Inc. • All outstanding Class B Units were either (1) reclassified into a new class of limited partnership interest referred to as “Incentive Units”, or (2) directly or indirectly exchanged for vested shares of Class A common stock of Bumble Inc. (in the case of vested Class B Units) and restricted shares of Class A common stock of Bumble Inc. (in the case of unvested Class B Units). • Recognition of a noncontrolling interest due to the Pre-IPO Shareholders retaining an economic interest in Bumble Holdings related to Common Units not exchanged for vested shares of Class A common stock. As part of the Reorganization Transactions, the Blocker Companies entered into certain restructuring transactions that resulted in the Pre-IPO Shareholders acquiring newly issued shares of Class A common stock in exchange for their ownership interests in the Blocker Companies and the Company acquiring an equal number of outstanding Common Units. Additionally, Bumble Inc. and the holders of all Common Units entered into an exchange agreement in which the holders of the Common Units will have the right on a quarterly basis to exchange their Common Units for shares of Class A common stock of the Company on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. Subsequent to the Reorganization Transactions, our Sponsor effected certain exchanges of Common Units for Class A shares that were contemplated to have occurred pursuant to the Blocker Restructuring, with the net change to the capital structure being 4,455,510 Common Units in Bumble Holdings being exchanged on April 1, 2021, on a one-for-one basis, for Class A common stock in the Company. We gave retrospective effect to these transactions when estimating our tax receivable agreement liability, see Note 4 – Income Taxes . Amendment and Restatement of Certificate of Incorporation The Company’s amended and restated certificate of incorporation has three classes of ownership interests: 6,000,000,000 shares of Class A common stock, par value $ 0.01 per share, 1,000,000 shares of Class B common stock, par value $ 0.01 per share, and 600,000,000 shares of preferred stock, par value $ 0.01 per share. Class A Common Stock Shares of Class A common stock have both voting and economic rights. Holders of Class A common stock are entitled to one vote for each share of Class A common stock held. Notwithstanding the foregoing, unless they elect otherwise, our Founder and affiliates of Blackstone (collectively, the “Principal Stockholders”) are entitled to outsized voting rights. Until the High Vote Termination Date (as defined below), each share of Class A common stock held by a Principal Stockholder is entitled to ten votes . “High Vote Termination Date” means the earlier to occur of (i) seven years from the closing of this offering and (ii) the date the parties to the stockholders agreement cease to own in the aggregate 7.5 % of the outstanding shares of Class A common stock, assuming exchange of all Common Units. Shares of Class A common stock are entitled to dividends and pro rata distribution of remaining available assets upon liquidation. Shares of Class A common stock do not have preemptive, subscription, redemption or conversion rights. As of December 31, 2021 and 2020, there were 129,212,949 and 0 shares of Class A common stock outstanding. Class B Common Stock Shares of Class B common stock have voting but no economic rights. Holders of Class B common stock generally are entitled, without regard to the number of shares of Class B common stock held by such holder, to one vote for each Common Unit of Bumble Holdings held by such holder. Notwithstanding the foregoing, unless they elect otherwise, each Principal Stockholder that holds Class B common stock is entitled to outsized voting rights. Until the High Vote Termination Date, each Principal Stockholder that holds Class B common stock is entitled, without regard to the number of shares of Class B common stock held by such Principal Stockholder, to a number of votes equal to 10 times the aggregate number of Common Units of Bumble Holdings held by such Principal Stockholder. Shares of Class B common stock do not have any right to receive dividends or distribution upon liquidation. As of December 31, 2021 and 2020, there were 20 and 100 shares of Class B common stock outstanding. Preferred Stock The Company is authorized to issue, without the approval of its stockholders, one or more series of preferred stock. The Board may determine, with respect to any series of preferred stock, the powers (including voting powers), preferences and relative, participating, optional or other special rights. As of December 31, 2021 and 2020, no preferred stock has been issued. Treasury Stock During the three months ended March 31, 2021, the Company used a portion of the proceeds from the issuance of 48.5 million shares in the IPO to redeem shares of Class A common stock from the pre-IPO owners. Repurchases of the Company's common stock are included in treasury stock at the cost of shares repurchased. During the three months ended June 30, 2021, the Company retired and restored the treasury stock to the status of authorized, but unissued, shares of Class A Common Stock. Distributions No dividends were paid in the year ended December 31, 2021 . During the period from January 29, 2020 to December 31, 2020, the Company declared a dividend of $ 360.0 million to the pre-IPO owners, of which approximately $ 334.3 million was paid by the Company on October 28, 2020 and $ 25.6 million of which was used by Whitney Wolfe Herd to partially repay the loan to Founder, and to pay related fees and expenses in connection therewith. The dividend that was paid on October 28, 2020 and the Founder Loan repayment is accounted for as an increase to Limited Partners’ Interest. During the year ended December 31, 2019, the Company paid dividends of $ 5.4 million to the unitholders that are outside the Company. No dividends were paid in the period from January 1, 2020 to January 28, 2020. No dividends were outstanding at December 31, 2021, 2020 and 2019. |
Earnings (Loss) per Share _ Uni
Earnings (Loss) per Share / Unit | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) per Share / Unit | Note 13 – Earnings (Loss) per Share / Unit Due to the impact of the Sponsor Acquisition, the Company’s capital structure for the Predecessor and Successor periods is not comparable. As a result, the presentation of earnings (loss) per share / unit for the periods prior to such transaction is not meaningful and only earnings (loss) per share / unit for periods subsequent to the Sponsor Acquisition are presented herein. The Company computes earnings per share (“EPS”) of Class A common stock using the two-class method required for participating securities. The Company considers unvested restricted shares and vested RSUs to be participating securities because holders are entitled to be credited with dividend equivalent payments, upon the payment by the Company of dividends on shares of Common Stock. Undistributed earnings allocated to participating securities are subtracted from net earnings (loss) attributable to Bumble Inc. in determining net earnings (loss) attributable to common stockholders. Basic EPS is computed by dividing net earnings (loss) attributable to common stockholders / unitholders by the weighted-average number of shares of our Class A Common Stock / Units outstanding. For the calculation of diluted EPS, net earnings (loss) attributable to common stockholders / unitholders for basic EPS is adjusted by the effect of dilutive securities. Diluted EPS attributable to common stockholders / unitholders is computed by dividing the resulting net earnings (loss) attributable to common stockholders / unitholders by the weighted-average number of common shares / units outstanding, adjusted to give effect to dilutive elements including restricted shares, RSUs, and options to the extent these are dilutive. The following table sets forth a reconciliation of the numerators used to compute the Company's basic and diluted earnings (loss) per share / unit (in thousands) Year Period from Numerator: Net earnings (loss) $ 286,945 $ ( 110,186 ) Net loss attributable to noncontrolling interests ( 30,834 ) 808 Net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners $ 317,779 $ ( 110,994 ) The following table sets forth the computation of the Company's basic and diluted earnings (loss) per share / unit (in thousands, except share / unit amounts, and per share / unit amounts). Year Period from Basic earnings (loss) per share / unit attributable to common stockholders / unitholders Numerator Allocation of net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners $ 185,449 $ ( 110,994 ) Less: net earnings (loss) attributable to participating securities 454 — Net earnings (loss) attributable to common stockholders / unitholders $ 184,995 $ ( 110,994 ) Denominator Weighted average number of shares of Class A common stock / units outstanding 121,425,908 2,453,947,685 Basic earnings (loss) per share / unit attributable to common stockholders / unitholders $ 1.52 $ ( 0.05 ) Diluted earnings (loss) per share / unit attributable to common stockholders / unitholders Numerator Allocation of net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners $ 181,003 $ ( 110,994 ) Increase in net earnings (loss) attributable to common shareholders upon conversion of potentially dilutive Common Units 104,328 — Less: net earnings (loss) attributable to participating securities 443 — Net earnings (loss) attributable to common stockholders / unitholders $ 284,888 $ ( 110,994 ) Denominator Number of shares / units used in basic computation 121,425,908 2,453,947,685 Add: weighted-average effect of dilutive securities Restricted Shares — — RSUs 1,033,701 — Options 5,569 — Common Units to Convert to Class A Common Stock 70,210,298 — Weighted average shares of Class A common stock / units outstanding used to calculate diluted earnings (loss) per share / unit 192,675,476 2,453,947,685 Diluted earnings (loss) per share / unit attributable to common stockholders / unitholders $ 1.48 $ ( 0.05 ) |
Stock-based Compensation
Stock-based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-based Compensation | Note 14 - Stock-based Compensation Total stock-based compensation cost was as follows: Successor Predecessor (in thousands) Year Period from Period from Year Ended Cost of revenue $ 3,749 $ 615 $ — $ — Selling and marketing expense 12,925 2,055 75 421 General and administrative expense 62,284 17,318 3,997 1,229 Product development expense 44,952 7,480 84 510 Total stock-based compensation expense $ 123,910 $ 27,468 $ 4,156 $ 2,160 Predecessor Plans Prior to the Sponsor Acquisition, Worldwide Vision Limited operated a share option plan and a growth share plan, and Bumble Holding Limited, a subsidiary of Worldwide Vision Limited, had issued phantom stock. In connection with the Sponsor Acquisition, Worldwide Vision Limited’s stock-based compensation plans were terminated and the phantom stock awards issued by Bumble Holding Limited were settled, including $ 4.0 million that was recognized as stock-based compensation expense in general and administrative expense in the consolidated statement of operations for the period from January 1, 2020 to January 28, 2020. Successor Plans Prior to the IPO, Bumble Holdings had three active plans under which awards had been granted to various employees of the Company, including key management personnel, based on their management grade. In connection with the Sponsor Acquisition, Bumble Holdings and Buzz Management Aggregator L.P., an interest holder in Bumble Holdings, adopted two new incentive plans for the employees’ performance and retention purposes, namely the Employee Incentive Plan (“Non-U.S. Plan”) and the Equity Incentive Plan (“U.S. Plan”). The participants of the Non-U.S. Plan and U.S. Plan are selected employees of the Company and the subsidiaries. Bumble Holdings also adopted one incentive plan for Whitney Wolfe Herd (the “Founder Plan”). Awards granted under the Founder Plan and U.S. Plan were in the form of Class B Units in Bumble Holdings and Class B Units in Buzz Management Aggregator L.P, respectively (collectively, the “Class B Units”). Under the Non-U.S. Plan, participants have received phantom awards of Class B Units in Buzz Management Aggregator L.P. (the “Phantom Class B Units”) that are settled in cash equal to the notional value of the Buzz Management Aggregator Class B Units at the settlement date. The Class B Units under the Founder Plan and U.S. Plan and the Phantom Class B Units under the Non-U.S. Plan comprise: • Time-Vesting Class B Units and Time-Vesting Phantom Class B Units ( 60 % of the Class B Units and Phantom Class B Units granted) that generally vest over a five-year service period and for which expense is recognized under a graded expense attribution model; and • Exit-Vesting Class B Units and Exit-Vesting Phantom Class B Units ( 40 % of the Class B Units and Phantom Class B Units granted). Vesting for these awards is based on a liquidity event in which affiliates of Blackstone receive cash proceeds in respect of its Class A units in the Company prior to the termination of the participant. Further, the portion of the Exit-Vesting Class B Units and Exit-Vesting Phantom Class B Units that vest is based on certain Multiple on Invested Capital (“MOIC”) and Internal Rate of Return (“IRR”) hurdles associated with a liquidity event. The MOIC and IRR hurdles impact the fair value of the awards. As the vesting of these units is contingent upon a specified liquidity event, no expense was required to be recorded prior to the occurrence of a liquidity event. Time-Vesting Class B Units and Exit-Vesting Class B Units Expense for the Time-Vesting Class B Units and Exit-Vesting Class B Units was based on the grant date fair value of the Class B Units. The grant date fair value was measured using a Monte Carlo model, which incorporates various assumptions noted in the following table. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs. Expected volatility was calculated based on the observed equity volatility for comparable companies. The expected time to liquidity event was based on management’s estimate of time to an expected liquidity event. The dividend yield was based on the Company’s expected dividend rate. The risk-free interest rate was based on U.S. Treasury zero-coupon issues. Forfeitures were accounted for as they occurred. The weighted-average assumptions the Company used in the Monte Carlo model for 2020 are as follows: Dividend yield — Expected volatility 58 % Risk-free interest rate 0.86 % Expected time to liquidity event (years) 4.7 Post-IPO Award Reclassification In connection with the Company’s IPO, awards under the Founder Plan, U.S. Plan, and Non-U.S. Plan were reclassified as follows: • The Time-Vesting and Exit-Vesting Class B Units in Bumble Holdings under the Founder Plan and granted to senior management under the U.S. Plan were reclassified to vested Incentive Units (in the case of Vested Class B Units) and unvested Incentive Units (in the case of unvested Class B Units) in Bumble Holdings. • The Time-Vesting and Exit-Vesting Class B Units in Bumble Holdings (other than those granted to senior management) were reclassified to Class A common stock (in the case of vested Class B Units) and restricted shares of Class A common stock (in the case of unvested Class B Units) in the Company. • The Time-Vesting and Exit-Vesting Phantom Class B Units in Bumble Holdings were reclassified into vested RSUs (in the case of vested Class B Phantom Units) and unvested RSUs (in the case of unvested Class B Phantom Units) in the Company. In each of the above reclassifications, the Post-IPO awar ds retained the same terms and conditions (including applicable vesting requirement). Each Post-IPO award was converted to reflect the $ 43.00 share price contemplated in the Company’s IPO while retaining the same economic value in the Company. At the IPO date, we concluded that our public offering represented a qualifying liquidity event that would cause the Exit-Vesting awards’ performance conditions to be probable. As such, we have begun to recognize stock-based compensation expense in relation to the Exit-Vesting awar ds. During the year ended December 31 , 2021, we recognized compensation cost related to the reclassified Exit-Vesting awards of $ 26.3 m illion. Time-Vesting and Exit-Vesting Class B Units Reclassified to Incentive Units in Bumble Holdings or Restricted Shares of Class A Common Stock in Bumble Inc. The following table summarizes the information about Time-Vesting and Exit-Vesting Class B Units in Bumble Holdings that were reclassified to Incentive Units in Bumble Holdings or restricted shares of Class A Common Stock in th e Company: Time-Vesting Class B Units Exit-Vesting Class B Units Number of Weighted- Number of Weighted- Unvested as of December 31, 2020 91,910,366 $ 0.55 61,273,583 $ 0.43 Granted — — — — Vested ( 12,260,439 ) 0.38 — — Forfeited ( 281,304 ) 0.36 ( 234,420 ) 0.25 Effect of Reorganization and IPO ( 91,629,062 ) 0.55 ( 61,039,163 ) 0.43 Outstanding as of December 31, 2021 — $ — — $ — Time-Vesting and Exit-Vesting Phantom Class B Units Converted to RSUs The following table summarizes the information about Time-Vesting and Exit-Vesting Class Phantom B Units that were converted to RSUs in th e Company: Time-Vesting Phantom Class B Units Exit-Vesting Phantom Class B Units Number of Number of Unvested as of December 31, 2020 39,456,172 26,304,120 Granted — — Vested ( 7,151,666 ) — Forfeited ( 101,891 ) ( 69,781 ) Effect of Reorganization and IPO ( 39,354,281 ) ( 26,234,339 ) Outstanding as of December 31, 2021 — — 2021 Omnibus Plan In connection with the IPO, the Company adopted the 2021 Omnibus Plan, which became effective on the date immediately prior to the effective date of the IPO. The 2021 Omnibus Plan provides the Company with flexibility to use various equity-based incentive awards as compensation tools to motivate and retain the Company’s workforce. The Company has initially reserved 30,000,000 shares of our common stock for the issuance of awards under the 2021 Omnibus Plan. The fair value of Time-Vesting awards granted or modified at the time of the IPO was determined using the Black-Scholes option pricing model with the following assumption ranges and fair value p er unit: Volatility 55 %- 60 % Expected Life 0.5 - 7.4 years Risk-free rate 0.1 %- 0.8 % Fair value per unit $ 43.00 Dividend yield 0.0 % Discount for lack of marketability (1) 15 % - 25 % The fair value of Exit-Vesting awards granted or modified at the time of the IPO was determined using a Monte Carlo simulation approach in an option pricing framework, where the common stock price of the Company was evolved using a Geometric Brownian Motion over a period from the Valuation Date to the date of Management's expected exit date - a date at which MOIC and IRR realized by the Sponsor can be calculated ("Sponsor Exit"), with the following assumption ranges and fair value p er unit: Volatility 55 % Expected Life 1.8 years Risk-free rate 0.1 % Fair value per unit $ 43.00 Dividend yield 0.0 % Discount for lack of marketability (1) 15 % (1) Discount for lack of marketability for Time-Vesting awards and Exit-Vesting awards is only applicable for Incentive Units granted in Bumble Holdings at the time of the IPO. The fair value of Time-Vesting awards granted during the year ended December 31, 2021 was determined using the Black-Scholes option pricing model with the following assumption ranges and fair value per unit: Volatility 60 % Expected Life 7 years Risk-free rate 1.46 % Fair value per unit 30.59 Dividend yield 0.0 % Incentive Units in Bumble Holdings: The following table summarizes information around Incentive Units in Bumble Holdings. These include grants of Class B Units that were reclassified into Incentive Units as described above, as well as Incentive Units issued to new recipients. The Incentive Units received as a result of the Reclassification of Class B Units retain the vesting attributes (including original service period vesting start date) of the Class B Units. The Company did not recognize any incremental fair value due to the reclassification of awards as the fair value per award was the same immed iately prior to and after the Reclassification. The newly granted Incentive Units contain the same vesting attributes as Incentive Units granted as a result of the Reclassification. Time-Vesting Incentive Units Exit-Vesting Incentive Units Number of Weighted- Number of Weighted- Effect of Reorganization and IPO as of February 10, 2021 6,353,868 $ 12.36 4,235,912 $ 12.36 Granted 351,387 38.72 308,850 32.18 Vested ( 1,270,779 ) 12.25 — — Forfeited ( 263,745 ) 11.64 ( 219,894 ) 11.64 Unvested as of December 31, 2021 5,170,731 $ 14.22 4,324,868 $ 13.81 As of December 31 , 2021, total unrecognized compensation cost related to the Time-Vesting Incentive Units is $ 21.0 million, which is expected to be recognized over a weighted-average period of 3.3 years. Total unrecognized compensation cost related to the Exit-Vesting Incentive Units is $ 17.4 million, which is expected to be recognized over a weighted average period of 3.0 years. During the year ended December 31 , 2021, the Company entered into an agreement with one of its employees, which resulted in the acceleration of stock-based compensation expense of $ 6.9 million which was recorded within general and administrative expense within the consolidated statement of operations during the second quarter of 2021. The fair value of the Time-Vesting Incentive Units and Exit-Vesting Incentive Units were calculated using the Black-Scholes option pricing model and a Monte Carlo simulation approach in an option pricing framework, respectively. Restricted Shares of Class A Common Stock in Bumble Inc.: The following table summarizes information around restricted shares in the Company. The restricted shares granted as a result of the reclassification of Class B Units retain the vesting attributes (including original service period vesting start date) of the Class B Units. The Company did not recognize any incremental fair value due to the reclassification of awards as the fair value per award was the same immediately prior to and after the Reclassification. Time-Vesting Restricted Shares of Class A Common Stock Exit-Vesting Restricted Shares of Class A Common Stock Number of Number of Effect of Reorganization and IPO as of February 10, 2021 248,593 163,154 Granted — — Vested ( 52,013 ) — Forfeited ( 97,863 ) ( 80,943 ) Unvested as of December 31, 2021 98,717 82,211 As of December 31 , 2021, total unrecognized compensation cost related to the Time-Vesting Restricted Shares is $ 0.3 million, which is expected to be recognized over a weighted-average period of 3.1 years. Total unrecognized compensation cost related to the Exit-Vesting Restricted Shares is $ 0.3 million, which is expected to be recognized over a weighted average period of 3.1 years. In conjunction with the IPO, as the fair value of the awards reclassified from Class B Units to Restricted Shares was identical upon reclassification, the $ 0.6 million of future share-based compensation relates to the aggregate grant date fair value of the Class B Units determined in prior periods. As such, the disclosure of the weighted-average grant date fair value of the Restricted Shares is not meaningful. RSUs in Bumble Inc.: The following table summarizes information around RSUs in the Company. These include grants of Phantom Class B Units that were replaced with RSUs in conjunction with the IPO, as well as Promised RSUs issued to new recipients. The RSUs granted as a result of the reclassification of Phantom Class B Units retain the vesting attributes (including original service period vesting start date) of the Phantom Class B Units. As the Phantom Class B Units were legally settled in cash and the RSUs will be settled with equity, this represents a liability-to-equity modification. The Company reclassified any outstanding liabilities to equity and recognized expense in accordance with the appropriate pattern using the modification date fair value. Time-Vesting RSUs that were granted as a result of the Reclassification generally vest in equal annual installments over a five year period, whereas Time-Vesting RSUs that were granted at the time of the Company’s IPO generally vest in equal annual installments over a four year period. Time-Vesting RSUs that are granted after the Company’s IPO will generally vest 25% on the first anniversary of the date of grant, or other vesting commencement date, and the remaining 75% of the award vests in equal installments on each monthly anniversary thereafter such that the award will be fully vested on the fourth anniversary of the date of grant, or other vesting commencement date. Exit-Vesting RSUs that were granted as a result of the Reclassification contain similar vesting requirements to the previously Exit-Vesting Phantom Class B Units. Time-Vesting RSUs Exit-Vesting RSUs Number of Weighted- Number of Weighted- Effect of Reorganization and IPO as of February 10, 2021 2,084,209 $ 43.00 1,389,018 $ 30.52 Granted 1,411,704 47.91 — — Vested ( 416,268 ) 42.99 — — Forfeited ( 275,702 ) 44.16 ( 171,867 ) 30.52 Unvested as of December 31, 2021 2,803,943 $ 45.36 1,217,151 $ 30.52 As of December 31 , 2021, total unrecognized compensation cost related to the Time-Vesting RSUs is $ 72.8 million, which is expected to be recognized over a weighted-average period of 3.3 years. Total unrecognized compensation cost related to the Exit-Vesting RSUs is $ 24.9 million, which is expected to be recognized over a weighted average period of 3.1 years. Options Under the 2021 Omnibus Plan, the Company has granted certain stock options with the underlying equity being shares of the Company’s Class A common stock. These stock options are inclusive of both Time-Vesting stock options and Exit-Vesting stock options. Time-Vesting stock options either vest over a four or a five year period, and weighted-average remaining contractual term has been specified in the table below. Exit-Vesting stock options vest upon satisfaction of a performance condition under which Blackstone and its affiliates receive cash proceeds in respect of certain MOIC and IRR hurdles, subject to the recipient’s continued employment at the time of satisfaction . At the IPO date, we concluded that our public offering represented a qualifying liquidity event that would cause the Exit-Vesting options’ performance conditions to be probable. The following table summarizes the Company’s option activity as it relates to Time-Vesting stock options as of December 31, 2021: December 31, 2021 Number of Weighted- Weighted- Outstanding as of December 31, 2020 — $ — $ — Granted 2,289,685 43.68 22.88 Vested ( 66,728 ) 43.00 21.87 Forfeited ( 239,001 ) 43.00 22.27 Outstanding as of December 31, 2021 1,983,956 $ 43.78 $ 22.99 Exercisable as of December 31, 2021 54,060 43.00 21.89 The following table summarizes the Company’s option activity as it relates to Exit-Vesting stock options as of December 31, 2021: December 31, 2021 Number of Weighted- Weighted- Outstanding as of December 31, 2020 — $ — $ — Granted 222,424 43.00 18.10 Exercised — — — Forfeited — — — Outstanding as of December 31, 2021 222,424 $ 43.00 $ 18.10 Exercisable as of December 31, 2021 — — — During the year ended December 31, 2021, a total of Time-Vesting stock options of 12,668 were exercised. Total unrecognized compensation cost related to the Time-Vesting options is $ 27.0 million, which is expected to be recognized over a weighted-average period of 3.2 years. Total unrecognized compensation cost related to the Exit-Vesting options is $ 2.8 million, which is expected to be recognized over a weighted-average period of 2.0 years. Options have a maximum contractual term of 10 years. The aggregate intrinsic value – assuming all options are expected to vest – and weighted average remaining contractual terms of Time-Vesting and Exit-Vesting options outstanding and options exercisable were as follows as of December 31 , 2021. Aggregate intrinsic value Time-Vesting options outstanding — Time Vesting options exercisable — Exit-Vesting options outstanding — Exit-Vesting options exercisable N/A Weighted-average remaining contractual term (in years) Time-Vesting options outstanding 9.1 Time Vesting options exercisable 9.1 Exit-Vesting options outstanding 9.1 Exit-Vesting options exercisable N/A The market price as of December 31, 2021 exceeded the weighted average exercise price, and as such, resulted in the aggregate intrinsic value to be negative for all of the Company’s stock options (referred to as “out-of-the money”). Employee Stock Purchase Plan In connection with the IPO, on February 10, 2021, Bumble Inc. adopted the 2021 Employee Stock Purchase Plan (the “ESPP”) for the issuance of up to a total of 4,500,000 shares of Class A common stock. The number of shares reserved for issuance under the ESPP will be increased automatically on January 1 of each fiscal year beginning in 2022 by a number of shares of our Class A common stock equal to the lesser of (i) the positive difference between 1% of the shares outstanding on the final day of the immediately preceding fiscal year and the ESPP share reserve on the final day of the immediately preceding fiscal year; and (B) a smaller number of shares as may be determined by the Board . The ESPP allows participants to purchase Class A common stock through contributions of up to 15 % of their total compensation. The purchase price of the Class A common stock will be 85 % of the lesser of the fair market value of our Class A common stock as determined on the applicable grant date or the applicable purchase period end date (provided that, in no event may the purchase price be less than the par value per share of our Class A common stock) . No purchases have been made under the ESPP as of December 31, 2021. |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2021 | |
Retirement Benefits [Abstract] | |
Benefit Plans | Note 15 - Benefit Plans Long-Term Incentive Plan The Company established a long-term cash incentive plan (the “LTIP”) on June 1, 2018 with an estimated performance measurement period of three to four years . Performance was measured based on the Company’s performance against the following pre-established targets: (i) the target monthly average users; (ii) revenue, and (iii) profits. The Company recorded expense for the LTIP of $( 0.1 ) million, $( 0.1 ) million, $ 1.4 million, and $ 3.2 million, in the year ended December 31, 2021, the period from January 29, 2020 to December 31, 2020, the period from January 1, 2020 to January 28, 2020, and the year ended December 31, 2019, respectively. As of December 31, 2021 and December 31, 2020, the Company had accrued a total of nil and $ 1.1 million, respectively, for the LTIP. Defined Contribution Plan The Company participates in various benefit plans, principally defined contribution plans. The Company’s contributions for these plans for the year ended December 31, 2021, the period from January 29, 2020 to December 31, 2020, the period January 1, 2020 to January 28, 2020, and the year ended December 31, 2019 are $ 3.8 million, $ 2.2 million, $ 0.2 million, and $ 1.7 million, respectively. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transaction [Line Items] | |
Related Party Transactions | Note 16 - Related Party Transactions In the ordinary course of operations, the Company enters into transactions with related parties, as discussed below. The following table summarizes balances with related parties (in thousands): Successor Predecessor Related Party relationship Type of Transaction Financial Statement Line Year Period from Period from Year Other Cost recharges General and $ — $ 2,514 $ — $ — Other Marketing costs Selling and marketing expense 3,661 — — — Other Tax receivable agreement liability remeasurement benefit Other income (expense), net 1,112 — — — Company owned by a Dividends paid to Dividends paid — 51,326 — 4,919 Company owned by a Loans repaid by Whitney Wolfe Herd Limited Partners’ interest 95,465 25,626 — — Company owned by a Dividends paid Dividends paid — — — 2,736 Parent Company of the Predecessor Dividends paid Dividends paid — — — 9,864 Parent Company Dividends paid Dividends paid — 292,530 — — Related Party relationship Type of Transaction Financial Statement Line December 31, December 31, Other Tax receivable agreement Payable to related parties pursuant to a tax receivable agreement $ 388,780 $ — Founder Loan On January 29, 2020, the Company recognized a $ 119.0 million loan to an entity controlled by the Founder, which was recorded as a reduction of “Limited Partners’ interest” in the consolidated balance sheets. In connection with the dividends paid, the Company’s Founder repaid $ 25.6 million of the loan (the "Founder Loan"), which was recorded as an increase to Limited Partners’ Interest. As of December 31, 2020, $ 93.4 million remained outstanding. On January 14, 2021, our Founder settled the outstanding balance of the loan plus accrued interest for a total of $ 95.5 million when Bumble Holdings distributed the loan in redemption of 63,643,425 Class A units held by Beehive Holdings III, LP with a hypothetical fair value equal to $ 95.5 million (such Class A units, the “Loan Settlement Units”). Since the value of the Loan Settlement Units redeemed by Bumble Holdings, determined using the volume-weighted average price of the Class A Common Stock on Nasdaq during the regular trading session as reported by Bloomberg L.P. for the 30-day period beginning on February 16, 2021 (the “Applicable VWAP”), exceeded the implied value of the Loan Settlement Units on the settlement date for purposes of repaying the loan, Bumble Holdings delivered to Beehive Holdings III, LP 3,252,056 Common Units which are exchangeable for shares of Class A common stock having a value based on the Applicable VWAP equal to such excess amount. The settlement of the Founder loan was recorded as an equity transaction with no net impact to the consolidated balance sheet. Underwriting of IPO Blackstone Securities Partners L.P., an affiliate of Blackstone, underwrote 4.1 million of the 57.5 million shares of Class A common stock offered to the market in the IPO, with underwriting discounts and commissions of $ 1.935 per share paid by the Company. Redemption of Class A Common Stock and Purchase Common Units in Connection with the IPO The Company used the proceeds from the issuance of 48.5 million shares ($ 1,991.6 million) in the IPO to redeem shares of Class A common stock and purchase Common Units from our Sponsor, at a price per share / Common Unit equal to the IPO price, net of underwriting discounts and commissions . Payable to related parties pursuant to a tax receivable agreement Concurrent with the completion of the IPO, the Company entered into a TRA with pre-IPO owners including our Founder, our Sponsor, Co-Investor and management and other equity holders (see Note 5). Other The Company uses Liftoff Mobile Inc. ("Liftoff"), a company in which Blackstone affiliated funds hold a controlling interest since March 2021, for marketing purposes. During the year ended December 31, 2021, the Company incurred costs related to these transactions of $ 3.7 million, which are included within selling and marketing expense in the consolidated statements of operations. |
Segment and Geographic Informat
Segment and Geographic Information | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Segment and Geographic Information | Note 17 - Segment and Geographic Information The Company operates as a single operating segment. The Company’s chief operating decision maker is the CEO, who reviews financial information presented on a consolidated basis, accompanied by disaggregated information about the Company’s revenue, for purposes of making operating decisions, assessing financial performance and allocating resources. Revenue by major geographic region is based upon the location of the customers who receive the Company's services. The information below summarizes revenue by geographic area, based on customer location (in thousands): Successor Predecessor Year Period from Period from Year North America $ 442,146 $ 301,878 $ 21,014 $ 257,716 Rest of the world 323,514 240,314 18,976 231,224 Total $ 765,660 $ 542,192 $ 39,990 $ 488,940 The United States is the only country with revenues of 1 0% or more of the Company’s total revenue. The information below summarizes property and equipment, net by geographic area (in thousands): December 31, December 31, 2021 2020 United Kingdom $ 6,035 $ 5,202 Czech Republic 3,234 5,067 United States 3,183 4,542 Rest of the world 2,175 2,022 Total $ 14,627 $ 16,833 United Kingdom, Czech Republic and United States are the only countries with property and equipment of 1 0% or more of the Company’s total property and equipment, net. |
Commitments and Contigencies
Commitments and Contigencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contigencies | Note 18 - Commitments and Contingencies The Company has entered into indemnification agreements with the Company’s officers and directors for certain events or occurrences. The Company maintains a directors and officers insurance policy to provide coverage in the event of a claim against an officer or director. Historically, the Company has not been obligated to make any payments for indemnification obligations, and no liabilities have been recorded for these obligations on the consolidated balance sheets as of December 31, 2021 and 2020. The Company is involved in certain lawsuits, claims and proceedings that arise in the ordinary course of business. The Company records a liability for these when it is believed to be probable that the Company has incurred a loss and the amount can be reasonably estimated. The Company regularly evaluates current information to determine whether it should adjust a recorded liability or record a new one. If the Company determines that there is a reasonable possibility that a loss may be incurred and the loss or range of loss can be estimated, the possible loss is disclosed in the accompanying notes to the consolidated financial statements to the extent material. Litigation On April 30, 2018, Match Group Inc (“Match”) filed a lawsuit in the Western district of Texas against Bumble Trading Inc. and Bumble Holding Limited for: (i) infringement of utility patents and a design patent, (ii) trademark infringement, (iii) trademark-related unfair competition (iv) trade dress infringement and (v) trade secret misappropriation. Bumble Trading Inc. and Bumble Holding Limited filed counterclaims against Match and IAC alleging (1) fraud, (2) Negligent Misrepresentation, (3) Unfair Competition, (4) Promissory Estoppel, and (5) Interference with Prospective Business Relations. Match subsequently added Badoo Limited, Badoo Trading Limited, Badoo Software Limited and Badoo Technologies Limited to the lawsuit. Match and Bumble Trading Inc. and Bumble Holding Limited reached an agreement to settle the lawsuit in June 2020 and the settlement was fully paid in the quarter ended September 30, 2021. On May 29, 2018 , a plaintiff filed a class action complaint against Bumble Trading Inc. alleging that the Bumble app’s “women message first” feature discriminates against men and is therefore unlawful under California’s Unruh Civil Rights Act (the “Unruh Act”) and Cal. Bus & Prof. Code Section 17200. The parties held a mediation on June 23, 2020 and signed a settlement agreement on November 20, 2020, which received final approval by the court on January 28, 2022. The Company recorded an accrual for the loss contingency in relation to this litigation. On November 13, 2018, a class action lawsuit was filed against Bumble Trading Inc. in the Northern District of California. There are two elements to the lawsuit: New York Dating Services Law and California Auto-Renewal Law. The parties held a mediation on April 2, 2020 ultimately resulting in the plaintiffs and Bumble accepting the mediator’s settlement proposal. The settlement received preliminary approval by the court on July 15, 2020 and final approval was granted on December 18, 2020. The settlement became fully effective as of January 18, 2021 and was fully paid during the three months ended March 31, 2021. On August 26, 2020, the Company received an insurance reimbursement of $ 9.3 million related to the putative class action lawsuit, which is included in “Other income (expense), net” in the accompanying consolidated statements of operations. In late 2021, three putative class action lawsuits were filed against the Company in Illinois alleging that certain features of the Badoo or Bumble apps violate the Illinois Biometric Privacy Act (“BIPA”). These lawsuits allege that the apps used facial geometry scans in violation of BIPA’s authorization, consent, and data retention policy provisions. A fourth putative class action was also filed against the Company in late 2021 in California alleging that Bumble app users’ information was collected, used, and disseminated in violation of California’s consumer protection and privacy laws. Plaintiffs in these lawsuits seek statutory damages, compensatory damages, attorneys’ fees, injunctive relief, and (in the California action) punitive damages. These cases are still in early stages and the Company cannot reasonably estimate a range of potential loss and expenses at this time. From time to time, the Company is subject to patent litigations asserted by non-practicing entities. As of December 31, 2021, three such matters were ongoing. The Company continues to assess its position and estimates the possible loss from these matters to be in the range of $ 1 million to $ 4 million. The Co mpany has recorded an accrual for loss contingencies in relation to these matters. Two of the three matters were settled prior to the issuance of these consolidated financial statements. As of December 31, 2021 and 2020, we determined that provisions of $ 8.8 million and $ 55.1 million, respectively, reflect our best estimate of any probable future obligation, including legal costs incurred to date and expected to be incurred up to completion, for the Company’s litigations. During the year ended December 31, 2021, the Company pa id $ 44.1 million to settle litigation matters. Legal expenses are included in “General and administrative expense” in the accompanying consolidated statements of operations. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Event [Line Items] | |
Subsequent Events | Note 19 - Subsequent Events Except as noted below, the Company has concluded that no events or transactions have occurred that may require disclosure in the accompanying consolidated financial statements. In January 2022, a purported class action complaint, UA Local 13 Pension Fund v. Bumble Inc. et al., was filed in the United States District Court for the Southern District of New York naming, among others, the Company, our Chief Executive Officer, our Chief Financial Officer, our board of directors and Blackstone, as defendants. The complaint asserts claims under the U.S. federal securities laws, purportedly brought on behalf of a class of purchasers of shares of Class A common stock in in Bumble’s secondary public stock offering which took place in September 2021 (the “SPO”), that the SPO Registration Statement and prospectus contained false and misleading statements or omissions by failing to disclose certain information concerning Bumble and Badoo app paying users and related trends and issues with the Badoo app payment platform, and that as a result of the foregoing, Bumble’s business metrics and financial prospects were not as strong as represented in the SPO Registration Statement and prospectus. The complaint seeks unspecified damages and an award of costs and expenses, including reasonable attorneys’ fees, as well as equitable relief. We believe that the allegations contained in the complaint are without merit and intend to defend the complaint vigorously. We cannot predict at this point the length of time that this action will be ongoing or the liability, if any, which may arise therefrom. On January 31, 2022, the Company entered into a definitive agreement to purchase all of the outstanding shares of Flashgap SAS (“Flashgap”), pursuant to a Share Purchase Agreement dated January 31, 2022 (“Purchase Agreement”), by and among Bumble, Flashgap SAS, and the company’s selling shareholders. Flashgap (popularly known as Fruitz), is a fast growing dating app with a Gen Z focus, which is a growing segment of online dating consumers. Fruitz complements our existing Bumble and Badoo apps and will allow us to expand our product offerings to a dynamic Gen Z market. The purchase price paid was $ 70.0 million in cash at closing of which $ 5.0 million will be held in escrow and payable in 23 months (subject to indemnification provisions). The foregoing excludes any potential future earn-out payments tied to additional performance-based goals with a maximum payout of $ 10.0 million. In connection with this transaction, the Company also entered into employment and retention agreements with key personnel, subject to customary terms and conditions. In February 2022, as a result of the Russia-Ukraine conflict, economic sanctions were imposed on Russian individuals and entities, including financial institutions, by countries around the world, including the U.S. and the European Union. On March 8, 2022, we announced that we will discontinue our operations in Russia and remove all of our apps from the Apple App Store and Google Play Store in Russia and Belarus. While it is difficult to estimate with certainty the effect of the current invasion of Ukraine by Russia, current or further economic sanctions, our decision to discontinue our operations in Russia and remove all of our apps from the Apple App Store and Google Play Store in Russia and Belarus will lead to reduced revenues and Paying Users from these countries, increased costs, or other adverse effects on our operations and results. As of December 31, 2021, the net assets of our subsidiary in Russia comprised 0.1 % of total assets and revenue from Russia, Belarus and Ukraine combined were approximately 2.8 % of our total revenue. Operating costs related to our Russian operations were approximately 1.7 % of our total operating costs for the year ended December 31, 2021. For additional information, see Item 1A ―Risk Factors—Risks Related to Our Brand, Products and Operations―Our operations may be adversely affected by ongoing developments in Russia, Ukraine and surrounding countries. Our operations may be adversely affected by ongoing developments in Russia, Ukraine and surrounding countries, including due to the impact of our decision to discontinue our operations in Russia and remove our apps from the Apple App Store and Google Play Store in Russia and Belarus. |
Summary of Selected Significa_2
Summary of Selected Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain judgments, estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses. The Company’s significant estimates relate to income taxes, the fair value and useful lives of assets acquired and liabilities assumed in the Sponsor Acquisition, the recoverability of long-lived assets and goodwill, potential obligations associated with legal contingencies, the fair value of contingent consideration, and the fair value of derivatives and stock-based compensation. These estimates are based on management’s best estimates and judgment. Actual results may differ from these estimates. Estimates, judgments and assumptions are continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Uncertainty about these assumptions, judgments and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash in banks, cash on hand, cash in electronic money accounts and overnight deposits. |
Accounts Receivable | Accounts Receivable Accounts receivable are recorded net of an allowance for credit losses, potential chargebacks and refunds issued to users. The amount of this allowance is primarily based upon historical experience and future economic expectations. The Company maintains an allowance for expected credit losses to provide for the estimated amount of accounts receivable that will not be collected. The Company determines if an allowance is needed by considering a number of factors, including the Company’s previous loss history, the length of time accounts receivable are past due, the specific customer’s ability to pay the obligation to the Company, reasonable and supportable forecasts of future economic conditions, and the current economic condition of the general economy. No allowance for credit losses was recorded as of December 31, 2021 and 2020, as all accounts receivable were considered collectible. |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentration of credit risk, consist primarily of cash and cash equivalents and accounts receivable. Cash and cash equivalents are principally maintained with major financial institutions, which management assesses to be of high credit quality, in order to limit exposure of investments. The Company has not experienced any losses on these deposits. The Company’s accounts receivable balances are predominantly with third-party aggregators and these are subject to normal credit risks which management believes to be not significant. As of December 31, 2021, one third party aggregator accounted for approximately 71 % of the Company’s gross accounts receivable. As of December 31, 2020, two third party aggregators accounted for approximately 56 % and 14 %, of the Company’s gross accounts receivable, respectively. As of December 31, 2019, three third party aggregators accounted for approximately 48 %, 12 % and 10 % of the Company’s gross accounts receivable, respectively. |
Leases | Leases Company as a lessee Under ASC 842, Leases , (“ASC 842”), the Company determines whether an arrangement is or contains a lease at contract inception. Right-of-use assets and lease liabilities, which are disclosed on the consolidated balance sheets, are recognized at the commencement date of the lease based on the present value of the lease payments over the lease term using the Company’s incremental borrowing rate on the lease commencement date. If the lease contains an option to extend the lease term, the renewal option is considered in the lease term if it is reasonably certain that the Company will exercise the option. Operating lease expense is recognized on a straight-line basis over the term of the lease. Short-term leases, defined as leases with an initial term of twelve months or less, are not recorded on the consolidated balance sheets. Company as a lessor Amounts due from lessees under finance leases are recorded as receivables at the amount of the Company’s lease receivable. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company’s lease receivable. Rental income from operating leases is recognized on a straight-line basis over the term of the lease. |
Property and Equipment, net | Property and Equipment, net Property and equipment, net is stated at cost less accumulated depreciation and accumulated impairment, if any. Cost of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Leasehold improvements — 5 years or remaining lease term Furniture and fixtures — 4 years Computer equipment — 3 years |
Internal-Use Software | Internal-Use Software The Company incurs costs to develop software to be used solely to meet internal needs and applications used to deliver its services. These software development costs meet the criteria for capitalization once the preliminary project stage is complete and it is probable that the project will be completed, and the software will be used to perform the function intended. Costs capitalized during the application development stage include salaries, benefits, bonus, stock-based compensation, and taxes for employees who are directly involved in the development of new products or features, direct costs of materials and services incurred in developing or obtaining internal-use software and interest costs incurred, if applicable. Costs associated with post implementation activities are expensed as incurred. Capitalized software development costs are classified as intangibles, net on the consolidated balance sheets. The cost of internal-use software is amortized on a straight-line method over the estimated useful life of the applicable software which is typically three years . |
Impairment of Long-lived Assets | Impairment of Long-lived Assets Long-lived assets, which consist of property and equipment and right-of-use assets, are reviewed for impairment whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying value is deemed not to be recoverable, an impairment loss is recorded equal to the amount by which the carrying value of the long-lived asset exceeds its fair value. The remaining estimated useful lives of property and equipment and right-of-use assets are routinely reviewed and, if the estimate is revised, the remaining unamortized balance is amortized or depreciated over the revised estimated useful life. |
Business Combination | Business Combination The Company accounts for business combinations using the acquisition method of accounting. The purchase price of the Sponsor Acquisition is allocated to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, including identifiable intangible assets. Any excess of the amount paid over the estimated fair values of the identifiable net assets acquired is allocated to goodwill. These fair value determinations require judgment and involve the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives and market multiples, among other items. In connection with the Sponsor Acquisition, the Company entered into a contingent earn-out arrangement that was determined to be part of the purchase consideration. The Company classified the arrangement as a liability at the time of the Sponsor Acquisition, as it will be settled in cash, and reflected the change in the liability at its current fair value for each subsequent reporting period thereafter until settled. The changes in the remeasured fair value of the contingent earn-out liability during each reporting period is recognized in “General and administrative expense” in the accompanying consolidated statements of operations. See Note 6 , Business Combination , for additional information. Transaction costs associated with business combinations are expensed as incurred. |
Goodwill and Intangible Assets, net | Goodwill and Intangible Assets, net Intangible assets are stated at cost less accumulated amortization and accumulated impairment, if any. Amortization is calculated on a straight-line basis over the estimated useful lives of the definite-lived intangible assets, as follows: User base — 2.5 years White label contracts — 8 years Trademark — 10 years Domain — 3 years Developed technology — 5 years Brand names are indefinite-lived intangible assets and not amortized. Intangible assets with definite lives are reviewed for impairment whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying value is deemed not to be recoverable, an impairment loss is recorded equal to the amount by which the carrying value of the long-lived asset exceeds its fair value. The remaining estimated useful lives of definite-lived intangible assets are routinely reviewed and, if the estimate is revised, the remaining unamortized balance is amortized over the revised estimated useful life. The Company assesses goodwill on the one reporting unit and indefinite-lived intangible assets for impairment annually as of October, 1, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or the fair value of an indefinite-lived intangible asset below its carrying value. When the Company elects to perform a qualitative assessment and concludes it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no further assessment of that reporting unit’s goodwill is necessary; otherwise, a quantitative assessment is performed and the fair value of the reporting unit is determined. If the carrying value of the reporting unit exceeds its fair value an impairment loss equal to the excess is recorded. During the fourth quarter of the year ended December 31, 2021, the Company determined that an individual definite long-lived asset was impaired and recognized an impairment charge of $ 26.4 m illion in "general and administrative expense" within the accompanying consolidated statement of operations. No impairment charges were recorded for goodwill and indefinite-lived intangibles. See Note 8, Goodwill and Intangible Assets , net for additional information on impairment. |
Investments | Investments The Company has certain investments in privately held companies and limited partnerships. These investments are carried at cost, less any impairments, and are adjusted for subsequent observable price changes obtained from orderly transactions for identical or similar investments issued by the same investee in accordance with ASC 321, Certain investment in Debt and Equity Securities . The investments are included in other assets in the accompanying consolidated balance sheets. Any gains or losses are recorded to other income (loss), net on the accompanying consolidated statement of operations. |
Fair Value Measurements | Fair Value Measurements The Company follows ASC 820, Fair Value Measurement , for financial assets and liabilities measured on a recurring basis. Other assets and liabilities are subject to fair value measurements only in certain circumstances, including purchase accounting in a business combination and long-lived assets that are written down to fair value when they are impaired. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company applies the fair value hierarchy to categorize the financial instruments measured at fair value based on the available inputs to the valuation and the degree to which they are observable or not observable in the market. The three levels of the fair value hierarchy are as follows: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Assets and liabilities valued based on observable market data for similar instruments, such as quoted prices for similar assets or liabilities. • Level 3—Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available. See Note 10, Fair Value Measurements , net for additional information. |
Derivatives | Derivatives The Company uses interest rate derivative instruments to manage the risk related to fluctuating cash flows from interest rate changes on the debt. These instruments are not designated as hedges for accounting purposes and are recorded in "Other assets" or “Other liabilities,” with changes in fair value recognized in “Other expense, net.” |
Revenue Recognition | Revenue Recognition The Company recognizes revenue from services in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Under ASC 606, the Company recognizes revenue when or as the Company’s performance obligations are satisfied by transferring control of the promised services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps as prescribed by ASC 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies performance obligations. The Company only applies the five-step model to contracts when it is probable that it will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determine those that are performance obligations and assess whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Revenue is primarily derived in the form of recurring subscriptions and in-app purchases. Subscription revenue is presented net of taxes, refunds and credit card chargebacks. This revenue is initially deferred and is recognized using the straight-line method over the term of the applicable subscription period. Revenue from lifetime subscriptions is deferred over the average estimated expected period of the subscriber relationship, which is currently estimated to be twelve months. Revenue from the purchase of in-app features is recognized based on usage. Unused in-app purchase fees expire and are recognized as revenue after six months. The Company also earns revenue from online advertising and partnerships. Online advertising revenue is recognized when an advertisement is displayed. Revenue from partnerships is recognized according to the contractual terms of the partnership. As permitted under the practical expedient available under ASC 606, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts for which the Company recognizes revenue at the amount which it has the right to invoice for services performed. During the year ended December 31, 2021 , the period from January 29, 2020 to December 31, 2020, the period from January 1, 2020 to January 28, 2020 and the year ended December 31, 2019, there were no customers representing greater than 10 % of total revenue. For the periods presented, revenue across apps was as follows (in thousands): Successor Predecessor (in thousands) Year Period from Period from Year Bumble App $ 532,916 $ 337,237 $ 23,256 $ 275,545 Badoo App and Other 232,744 204,955 16,734 213,395 Total Revenue $ 765,660 $ 542,192 $ 39,990 $ 488,940 Assets Recognized from the Costs to Obtain a Contract with a Customer The Company has determined that certain costs paid to third party aggregators, primarily mobile app store fees, meet the requirements to be capitalized as a cost of obtaining a contract. These costs are capitalized and amortized over the period of contract performance, typically over the term of the applicable subscription period. |
Deferred Revenue | Deferred Revenue Deferred revenue consists of advance payments that are received or are contractually due in advance of the Company’s performance. The Company’s deferred revenue is reported on a contract by contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the term of the applicable subscription period or expected completion of the performance obligation is one year or less. The deferred revenue balance is $ 39.9 million and $ 31.3 million at December 31, 2021 and 2020, respectively. During the year ended December 31, 2021, the period from January 29, 2020 to December 31, 2020, the period from January 1, 2020 to January 28, 2020 and the year ended December 31, 2019, the Company recognized revenue of $ 31.3 million, $ 9.6 million $ 10.6 million and $ 23.4 million, respectively, that was included in the deferred revenue balance at the beginning of each period. |
Advertising Costs | Advertising Costs Advertising costs are expensed in the period in which the services are first delivered to the Company. Where media space is purchased in advance, expense is deferred until the advertising service has been received by the Company. Advertising costs represent online marketing, including fees paid to search engines and social media sites, brand marketing such as out of home and television advertis ing, field marketing and partner-related payments to those who direct traffic to the Company’s platforms. Advertising expense was $ 175.0 million, $ 138.0 million, $ 9.8 million, and $ 130.4 million for the year ended December 31, 2021, the period from January 29, 2020 to Dec ember 31, 2020, for the period from January 1, 2020 to January 28, 2020, and the year ended December 31, 2019, respectively. |
Debt Issuance Costs | Debt Issuance Costs Costs incurred in connection with obtaining new debt financing are deferred and amortized over the life of the related financing. If such financing is settled or replaced prior to maturity with debt instruments that have substantially different terms, the settlement is treated as an extinguishment and the unamortized costs are charged to gain or loss on extinguishment of debt. If such financing is settled or replaced with debt instruments from the same lender that do not have substantially different terms, the new debt agreement is accounted for as a modification for the prior debt agreement and the unamortized costs remain capitalized, the new original issuance discount costs are capitalized, and any new third-party costs are charged to expense. Deferred costs are recognized as a direct reduction in the carrying amount of the debt instrument on the consolidated balance sheets and are amortized to interest expense over the term of the related debt using the effective interest method. |
Income Taxes | Income Taxes The Company accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided if it is determined that it is more likely than not that the deferred tax asset will not be realized. The Company records interest (and penalties where applicable), net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax provision. The Company evaluates and accounts for uncertain tax positions using a two-step approach. Recognition (step one) occurs when the Company concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustainable upon examination. Measurement (step two) determines the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Derecognition of a tax position that was previously recognized would occur when the Company subsequently determines that a tax position no longer meets the more likely-than-not threshold of being sustained. |
Payable to Related Parties Pursuant to Tax Receivable Agreement | Payable to Related Parties Pursuant to Tax Receivable Agreement In connection with our IPO, the Company entered into a tax receivable agreement with certain pre-IPO owners whereby the Company agreed to pay to such pre-IPO owners 85 % of the benefits that the Company realizes, or is deemed to realize, as a result of our allocable share of existing tax basis acquired in the IPO, increases in our share of existing tax basis and adjustments to the tax basis of the assets of Bumble Holdings as a result of sales or exchanges of Common Units (including Common Units issued upon conversion of vested Incentive Units), and our utilization of certain tax attributes of the Blocker Companies (including the Blocker Companies’ allocable share of existing tax basis) and certain other tax benefits related to entering into the tax receivable agreement. Actual tax benefits realized by the Company may differ from tax benefits calculated under the tax receivable agreement as a result of the use of certain assumptions in the tax receivable agreement, including the use of an assumed weighted-average state and local income tax rate to calculate tax benefits. Payments to be made under the tax receivable agreement will depend upon a number of factors, including the timing and amount of our future income. The Company accounts for amounts payable under the tax receivable agreement in accordance with ASC Topic 450, Contingencies . As such, subsequent changes in the fair value of the tax receivable agreement liability between reporting periods are recognized in the statement of operations. See Note 5, Payable to Related Parties Pursuant to a Tax Receivable Agreement , for additional information on the tax receivable agreement . |
Foreign Currencies | Foreign Currencies The Company’s consolidated financial statements are presented in U.S. dollars, which is the Company’s functional currency. The financial position and operating results of foreign entities whose primary economic environment is based on their local currency are consolidated using the local currency as the functional currency. These local currency assets and liabilities are translated into U.S. dollars at the rates of exchange as of the balance sheet date, and local currency revenue and expenses of these operations are translated at average rates of exchange during the period. Translation gains and losses are included in accumulated other comprehensive income as a component of shareholders’ equity. Transaction gains and losses resulting from assets and liabilities denominated in a currency other than the functional currency are included in “Other expense, net” in the accompanying consolidated statements of operations. For the year ended December 31. 2021, the period from January 29, 20 20 to December 31, 2020, the period from January 1, 2020 to January 28, 2020, and the year ended December 31, 2019, the Company recorded a gain (loss) of $ 4.5 millio n, $( 14.1 ) million, $( 0.6 ) million, and $( 1.2 ) million, respectively. |
Earnings (Loss) per Share/Unit | Earnings (Loss) per Share/Unit Basic earnings (loss) per unit is computed by dividing net earnings (loss) attributable to the Company by the weighted average number of common units outstanding during the period. Diluted earnings (loss) per unit is computed by dividing net earnings (loss) attributable to the Company by the weighted-average units outstanding during the period after adjusting for the impact of securities that would have a dilutive effect on earnings (loss) per unit. All earnings (loss) for the Predecessor period from January 1, 2020 to January 28, 2020 and for the year ended December 31, 2019 were entirely allocable to Predecessor shareholders and non-controlling interest. Additionally, due to the impact of the Sponsor Acquisition, the Company’s capital structure for the Predecessor and Successor periods is not comparable. As a result, the presentation of earnings (loss) per share for the periods prior to such transaction is not meaningful and only earnings (loss) per unit for periods subsequent to the Sponsor Acquisition are presented herein. See Note 13, Earnings ( Loss) per Share/Unit, for additional information on dilutive securities. |
Stock-Based Compensation | Stock-Based Compensation The Company issues stock-based awards to employees that are generally in the form of stock options, restricted shares, incentive units, or restricted stock units (“RSUs”). Compensation cost for equity awards is measured at their grant-date fair value, and in the case of restricted shares and RSUs is estimated based on the fair value of the Company’s underlying common stock. The grant date fair value of stock options and incentive units is estimated using the Black-Scholes option pricing model for time-vesting awards or a Monte Carlo simulation approach in an option pricing framework for exit-vesting awards. These require management to make assumptions with respect to the fair value of the Company’s common stock on the grant date, including the expected term of the award, the expected volatility of the Company’s stock calculated based on a period of time generally commensurate with the expected term of the award, risk-free interest rates and expected dividend yields of the Company’s stock. For time-vesting awards, compensation cost is recognized over the requisite service period, which is generally the vesting period, using the graded attribution method. For performance-based stock awards, compensation expense is recognized over the requisite service period on a straight-line basis when achievement is probable. At the IPO date, we concluded that our public offering represented a qualifying liquidity event that would cause the performance conditions to be probable. For periods prior to the Company’s IPO, the grant date fair value of stock-based compensation awards and the underlying equity were determined on each grant date using a Monte Carlo model. As the Company's equity was not publicly traded, there was no history of market prices for the Company's equity. Thus, estimating grant date fair value required the Company to make assumptions, including the value of the Company's equity, expected time to liquidity, and expected volatility. See Note 14, Stock-based Compensation, for a discussion of the Company’s stock-based compensation plans and awards. |
Recently Issued Pronouncements Not Yet Adopted | Recently Issued Pronouncements Not Yet Adopted In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers , as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities are recognized by the acquirer at fair value on the acquisition date. This new guidance is effective for the Company for its fiscal year beginning January 1, 2023 and interim periods within that fiscal year, and early adoption is permitted. The Company is currently evaluating the impact of adopting the new accounting guidance on its consolidated financial position, results of operations and cash flows. In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU” 2020-04) and related amendments on Reference Rate Reform , which provided optional guidance and exceptions to for applying GAAP to contracts, hedging relationships, and other transactions that reference London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued because of reference rate reform if certain criteria are met. The amendments are effective prospectively at any point through December 31, 2022. The Company continues to evaluate the potential impact of adopting this new accounting guidance on its consolidated financial position, results of operations and cash flows. The Company plans to adopt the pronouncement during the fiscal year ending December 31, 2022. |
Summary of Selected Significa_3
Summary of Selected Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Revenue Across Apps | For the periods presented, revenue across apps was as follows (in thousands): Successor Predecessor (in thousands) Year Period from Period from Year Bumble App $ 532,916 $ 337,237 $ 23,256 $ 275,545 Badoo App and Other 232,744 204,955 16,734 213,395 Total Revenue $ 765,660 $ 542,192 $ 39,990 $ 488,940 |
Schedule of Estimated Useful Lives of Assets | Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Leasehold improvements — 5 years or remaining lease term Furniture and fixtures — 4 years Computer equipment — 3 years |
Schedule of Estimated Useful Lives of Definite Lived Intangible Assets | Amortization is calculated on a straight-line basis over the estimated useful lives of the definite-lived intangible assets, as follows: User base — 2.5 years White label contracts — 8 years Trademark — 10 years Domain — 3 years Developed technology — 5 years |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Components of lease cost | Components of lease cost included in general and administrative expenses on the consolidated statement of operations are as follows (in thousands): Successor Predecessor Lease cost Year Period from Period from Year Operating lease cost $ 5,438 $ 4,165 $ 410 $ 5,704 Expense relating to short-term leases 363 331 36 467 Income from subleasing right-of-use assets ( 561 ) ( 502 ) ( 46 ) ( 559 ) Total lease cost $ 5,240 $ 3,994 $ 400 $ 5,612 |
Supplemental cash flow information related to lease | Supplemental cash flow information related to leases is as follows (in thousands): Successor Predecessor Year Period from Period from Year Cash paid for amounts included in the measurement of lease liabilities $ 5,464 $ 5,886 $ 633 $ 4,753 Right-of-use assets obtained in exchange for lease liabilities 19,570 146 — 2,960 |
Supplemental balance sheet information related to leases | Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate): December 31, December 31, 2021 2020 Assets: Right-of-use assets $ 26,410 $ 11,711 Liabilities: Accrued expenses and other current liabilities $ 3,898 $ 4,933 Other liabilities 21,711 5,831 Total operating lease liabilities $ 25,609 $ 10,764 Weighted average remaining operating lease term (years) 6.8 2.9 Weighted average operating lease discount rate 5.0 % 6.5 % |
Maturities of lease liabilities | Future maturities on lease liabilities as of December 31, 2021, are as follows (in thousands): Years Ended December 31, 2022 $ 4,037 2023 5,238 2024 2,109 2025 5,584 2026 5,241 Thereafter 8,105 Total lease payments 30,314 Less: imputed interest ( 4,705 ) Total lease liabilities $ 25,609 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of U.S. and foreign (loss) earnings before income taxes and noncontrolling interests | U.S. and foreign (loss) earnings before income taxes and noncontrolling interests are as follows (in thousands): Successor Predecessor Year Period Period U.S. $ ( 177,893 ) $ ( 41,703 ) $ ( 168 ) Foreign 28,767 ( 60,357 ) ( 32,023 ) Total $ ( 149,126 ) $ ( 102,060 ) $ ( 32,191 ) |
Schedule of Income tax provision | The components of the income tax (benefit) provision are as follows (in thousands): Successor Predecessor Year Period Period Current income tax (benefit) provision: State $ ( 122 ) $ 162 $ — Foreign 10,680 8,753 452 Current income tax provision $ 10,558 $ 8,915 $ 452 Deferred income tax (benefit) provision: Federal $ 192 $ ( 100 ) $ — State — ( 91 ) — Foreign ( 446,821 ) ( 598 ) ( 87 ) Deferred income tax (benefit) provision ( 446,629 ) ( 789 ) ( 87 ) Income tax (benefit) provision $ ( 436,071 ) $ 8,126 $ 365 The income tax benefit of $ 436.1 million recorded in the year ended December 31, 2021 includes a $ 441.5 million deferred tax benefit related to the reversal of net deferred tax liabilities recorded at our Maltese and UK entities due to a restructuring of our international operations which occurred on January 1, 2021. In addition, the income tax benefit for the year ended December 31, 2021, reflects the impact of our assessment that we will not be able to realize the benefit of certain deferred tax assets arising in the current year for which a valuation allowance has been recorded. |
Schedule of deferred tax assets and deferred tax liabilities | The tax effects of cumulative temporary differences that give rise to significant deferred tax assets and deferred tax liabilities are presented below (in thousands): December 31, December 31, 2021 2020 Deferred tax assets: Investment in partnership $ 164,220 $ — Depreciation and amortization 275 — Net operating loss 42,229 8,373 Interest expense carry forward 1,530 — Tax Receivable Agreement 31,223 — Share-based compensation 14,405 — Other 2,991 4,553 Total deferred tax assets 256,873 12,926 Less: Valuation allowance ( 237,783 ) ( 8 ) Deferred tax assets, net of valuation allowance $ 19,090 $ 12,918 Deferred tax liabilities: Depreciation and amortization — ( 441,005 ) Total deferred tax liabilities — ( 441,005 ) Deferred tax (liabilities) assets, net $ 19,090 $ ( 428,087 ) As of December 31, 2021, the Company had deferred tax assets related to federal, state and foreign net operating loss carryforwards of $ 34.4 million, $ 4.1 million and $ 1.7 million, respectively. Both the federal and foreign net operating losses can be carried forward indefinitely. |
Statutory Federal Income Tax Rate to Earnings Before Income Taxes | A reconciliation of the statutory federal effective tax rate to the effective tax rate is as follows: Successor Predecessor Year Period Period Income tax provision at the statutory rate (1) 21 % 35 % 35 % Nondeductible expenses (1 )% ( 77 )% ( 39 )% State taxes, net of federal benefit 1 % — — Non-controlling interest ( 14 )% — — Effect of foreign taxes ( 3 )% — — Share-based compensation ( 3 )% 1 % (1 )% Impact of IP realignment 296 % — — Tax rebate — 28 % 0 % Tax rate differential — 25 % 4 % Valuation allowance (4 )% 0 % 0 % Tax rate change — ( 22 )% 0 % Other ( 1 )% 2 % 0 % Income tax provision 292 % ( 8 )% ( 1 )% |
Schedule of unrecognized tax benefits | A rollforward of unrecognized tax benefits, excluding accrued penalties and interest, for the year ended December 31, 2021 is as follows: Successor (in thousands) Year Balance, beginning of the period $ — Additions based on tax positions related to the current year 1,500 Balance, end of the period $ 1,500 |
Business Combination (Tables)
Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Summary of Purchase Consideration and Purchase Price Allocation to Estimated Fair Values of Identifiable Assets Acquired and Liabilities Assumed | The following tables summarize the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed (in thousands): Cash paid to former owners of Worldwide Vision Limited $ 2,239,827 Issued ownership interest in the Company 349,992 Cash paid to related party 125,000 Settlement of amounts owed to Worldwide Vision Limited by former owners 42,075 Buyout of minority shareholders of a subsidiary 44,750 Consideration related to holdback settlement 36,418 Fair value of contingent earn-out liability 12,900 Total purchase consideration $ 2,850,962 Purchase price allocation $ 2,850,962 Less fair value of net assets acquired: Cash and cash equivalents 53,927 Other current assets 127,464 Property and equipment 14,241 Intangible assets 1,785,000 Other noncurrent assets 17,826 Deferred revenue ( 9,600 ) Other current liabilities ( 143,293 ) Deferred income taxes ( 398,688 ) Other long-term liabilities ( 51,878 ) Net assets acquired 1,394,999 Goodwill $ 1,455,963 |
Summary of Fair Values of Identifiable Intangible Assets Acquired at Date of Sponsor Acquisition | The fair values of the identifiable intangible assets acquired at the date of Sponsor Acquisition are as follows (in thousands): Acquisition Date Weighted- Brands $ 1,430,000 Indefinite Developed technology 220,000 5 User base 105,000 2.5 White label contracts 30,000 8 Total identifiable intangible assets acquired $ 1,785,000 |
Summary of Proforma financial information | The following pro forma financial information is based on the historical financial statements of the Company and presents the Company’s results as if the business combination had occurred as of January 1, 2019 (in thousands): Unaudited Pro Forma Year Ended December 31, 2020 December 31, 2019 Revenue $ 578,322 $ 477,363 Net loss ( 71,891 ) ( 98,175 ) |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property Plant And Equipment [Abstract] | |
Summary of Property and Equipment, Net | A summary of the Company’s property and equipment, net is as follows (in thousands): December 31, December 31, Computer equipment $ 21,675 $ 18,423 Leasehold improvements 7,288 5,318 Furniture and fixtures 904 861 Total property and equipment, gross 29,867 24,602 Accumulated depreciation ( 15,240 ) ( 7,769 ) Total property and equipment, net $ 14,627 $ 16,833 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Changes in Carrying amount of Goodwill | The changes in the carrying amount of goodwill for the periods presented is as follows: Balance as of December 31, 2020 $ 1,540,915 Goodwill adjustment, net (1) ( 803 ) Balance as of December 31, 2021 $ 1,540,112 (1) Relates to the impact of $ 0.8 million of deferred income taxes. There were no impairment charges recorded for goodwill and indefinite-lived intangibles for the year ended December 31, 2021 and 2020, respectively. |
Summary of Intangible Assets, Net | A summary of the Company’s intangible assets, net is as follows (in thousands): December 31, 2021 Gross Accumulated Impairment losses Net Carrying Weighted- Brands $ 1,511,269 $ — $ — $ 1,511,269 Indefinite Developed technology 244,813 ( 93,845 ) — 150,968 3.1 User base 112,695 ( 86,399 ) — 26,296 0.6 White label contracts 33,384 ( 6,953 ) ( 26,431 ) — — Other 9,106 ( 841 ) — 8,265 5.3 Total intangible assets, net $ 1,911,267 $ ( 188,038 ) $ ( 26,431 ) $ 1,696,798 December 31, 2020 Gross Accumulated Net Carrying Weighted- Brands $ 1,511,269 $ — $ 1,511,269 Indefinite Developed technology 244,813 ( 44,884 ) 199,929 4.1 User base 112,695 ( 41,322 ) 71,373 1.6 White label contracts 33,384 ( 3,826 ) 29,558 7.1 Other 352 ( 71 ) 281 4.0 Total intangible assets, net $ 1,902,513 $ ( 90,103 ) $ 1,812,410 |
Summary of Amortization of Intangible Assets with Definite Lives | As of December 31, 2021, amortization of intangible assets with definite lives is estimated to be as follows (in thousands): 2022 $ 76,928 2023 50,632 2024 49,953 2025 4,422 2026 and thereafter 1,903 Total $ 183,838 |
Other Financial Data (Tables)
Other Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Financial Data Disclosure [Abstract] | |
Summary of Other Current Assets | Other current assets are comprised of the following balances (in thousands): December 31, 2021 December 31, 2020 Capitalized aggregator fees $ 8,183 $ 5,533 Prepayments 10,989 6,435 Income tax receivable 30,563 59,364 Capitalized IPO costs — 3,033 Other receivables 3,016 7,022 Total other current assets $ 52,751 $ 81,387 |
Summary of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities are comprised of the following balances (in thousands): December 31, 2021 December 31, 2020 Legal liabilities $ 8,767 $ 55,144 Accrued expenses 39,849 36,184 Lease liabilities 3,898 4,933 Income tax payable 42,317 71,324 Other payables 16,651 13,401 Total accrued expenses and other current liabilities $ 111,482 $ 180,986 |
Summary of Other Non-current Liabilities | Other non-current liabilities are comprised of the following balances (in thousands): December 31, 2021 December 31, 2020 Lease liabilities $ 21,711 $ 5,831 Contingent earn-out liability 96,600 40,700 Stock-based compensation liabilities — 13,765 Other liabilities 935 1,894 Total other liabilities $ 119,246 $ 62,190 |
Summary of Supplemental Cash Flow Information | Supplemental cash flow information is as follows (in thousands): Successor Predecessor Year Period from Period from Year Taxes paid $ 33,421 $ 42 $ — $ 3,996 Interest paid 22,339 19,862 — — |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Summary of Financial Instruments Measured at Fair Value on Recurring Basis | The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis (in thousands): December 31, 2021 Level 1 Level 2 Level 3 Total Fair Assets: Cash and cash equivalents $ 369,175 $ — $ — $ 369,175 Derivative asset — 5,008 — 5,008 Equity investments — — 2,610 2,610 $ 369,175 $ 5,008 $ 2,610 $ 376,793 Liabilities: Contingent earn-out liability $ — $ — $ 96,600 $ 96,600 $ — $ — $ 96,600 $ 96,600 December 31, 2020 Level 1 Level 2 Level 3 Total Fair Assets: Cash and cash equivalents $ 128,029 $ — $ — $ 128,029 Deposits on credit card 257 — — 257 Equity investments — — 1,458 1,458 $ 128,286 $ — $ 1,458 $ 129,744 Liabilities: Contingent earn-out liability $ — $ — $ 40,700 $ 40,700 Derivative liability — 1,586 — 1,586 $ — $ 1,586 $ 40,700 $ 42,286 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Summary of Debt | Total debt is comprised of the following (in thousands): December 31, December 31, Term Loan due January 29, 2027 $ 638,563 $ 845,000 Less: unamortized debt issuance costs 15,624 18,786 Less: current portion of debt, net 2,588 5,338 Total long-term debt, net $ 620,351 $ 820,876 |
Summary of Future Maturities of Long-term Debt | Future maturities of long-term debt as of December 31, 2021, were as follows (in thousands): 2022 $ 5,750 2023 5,750 2024 5,750 2025 5,750 2026 and thereafter 615,563 Total $ 638,563 |
Earnings (Loss) per Share _ U_2
Earnings (Loss) per Share / Unit (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Net Loss Per Unit | The following table sets forth a reconciliation of the numerators used to compute the Company's basic and diluted earnings (loss) per share / unit (in thousands) Year Period from Numerator: Net earnings (loss) $ 286,945 $ ( 110,186 ) Net loss attributable to noncontrolling interests ( 30,834 ) 808 Net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners $ 317,779 $ ( 110,994 ) The following table sets forth the computation of the Company's basic and diluted earnings (loss) per share / unit (in thousands, except share / unit amounts, and per share / unit amounts). Year Period from Basic earnings (loss) per share / unit attributable to common stockholders / unitholders Numerator Allocation of net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners $ 185,449 $ ( 110,994 ) Less: net earnings (loss) attributable to participating securities 454 — Net earnings (loss) attributable to common stockholders / unitholders $ 184,995 $ ( 110,994 ) Denominator Weighted average number of shares of Class A common stock / units outstanding 121,425,908 2,453,947,685 Basic earnings (loss) per share / unit attributable to common stockholders / unitholders $ 1.52 $ ( 0.05 ) Diluted earnings (loss) per share / unit attributable to common stockholders / unitholders Numerator Allocation of net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners $ 181,003 $ ( 110,994 ) Increase in net earnings (loss) attributable to common shareholders upon conversion of potentially dilutive Common Units 104,328 — Less: net earnings (loss) attributable to participating securities 443 — Net earnings (loss) attributable to common stockholders / unitholders $ 284,888 $ ( 110,994 ) Denominator Number of shares / units used in basic computation 121,425,908 2,453,947,685 Add: weighted-average effect of dilutive securities Restricted Shares — — RSUs 1,033,701 — Options 5,569 — Common Units to Convert to Class A Common Stock 70,210,298 — Weighted average shares of Class A common stock / units outstanding used to calculate diluted earnings (loss) per share / unit 192,675,476 2,453,947,685 Diluted earnings (loss) per share / unit attributable to common stockholders / unitholders $ 1.48 $ ( 0.05 ) |
Stock-based Compensation (Table
Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Schedule of Total Stock-based Compensation Cost | Total stock-based compensation cost was as follows: Successor Predecessor (in thousands) Year Period from Period from Year Ended Cost of revenue $ 3,749 $ 615 $ — $ — Selling and marketing expense 12,925 2,055 75 421 General and administrative expense 62,284 17,318 3,997 1,229 Product development expense 44,952 7,480 84 510 Total stock-based compensation expense $ 123,910 $ 27,468 $ 4,156 $ 2,160 |
Summary of Weighted-Average Assumptions Used in Monte Carlo Model | The weighted-average assumptions the Company used in the Monte Carlo model for 2020 are as follows: Dividend yield — Expected volatility 58 % Risk-free interest rate 0.86 % Expected time to liquidity event (years) 4.7 |
Summary of Information about Time-Vesting and Exit-Vesting Class B Units | The following table summarizes the information about Time-Vesting and Exit-Vesting Class B Units in Bumble Holdings that were reclassified to Incentive Units in Bumble Holdings or restricted shares of Class A Common Stock in th e Company: Time-Vesting Class B Units Exit-Vesting Class B Units Number of Weighted- Number of Weighted- Unvested as of December 31, 2020 91,910,366 $ 0.55 61,273,583 $ 0.43 Granted — — — — Vested ( 12,260,439 ) 0.38 — — Forfeited ( 281,304 ) 0.36 ( 234,420 ) 0.25 Effect of Reorganization and IPO ( 91,629,062 ) 0.55 ( 61,039,163 ) 0.43 Outstanding as of December 31, 2021 — $ — — $ — |
Summary of Information about Time-Vesting and Exit-Vesting Class Phantom B Units | The following table summarizes the information about Time-Vesting and Exit-Vesting Class Phantom B Units that were converted to RSUs in th e Company: Time-Vesting Phantom Class B Units Exit-Vesting Phantom Class B Units Number of Number of Unvested as of December 31, 2020 39,456,172 26,304,120 Granted — — Vested ( 7,151,666 ) — Forfeited ( 101,891 ) ( 69,781 ) Effect of Reorganization and IPO ( 39,354,281 ) ( 26,234,339 ) Outstanding as of December 31, 2021 — — |
Summary of Assumption Ranges and Fair Value Per Unit | The fair value of Time-Vesting awards granted during the year ended December 31, 2021 was determined using the Black-Scholes option pricing model with the following assumption ranges and fair value per unit: Volatility 60 % Expected Life 7 years Risk-free rate 1.46 % Fair value per unit 30.59 Dividend yield 0.0 % |
Summary of Aggregate Intrinsic Value and Weighted Average Remaining Contractual Terms | The aggregate intrinsic value – assuming all options are expected to vest – and weighted average remaining contractual terms of Time-Vesting and Exit-Vesting options outstanding and options exercisable were as follows as of December 31 , 2021. Aggregate intrinsic value Time-Vesting options outstanding — Time Vesting options exercisable — Exit-Vesting options outstanding — Exit-Vesting options exercisable N/A Weighted-average remaining contractual term (in years) Time-Vesting options outstanding 9.1 Time Vesting options exercisable 9.1 Exit-Vesting options outstanding 9.1 Exit-Vesting options exercisable N/A |
Incentive Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Information Around Incentive Units in Bumble Holdings | The newly granted Incentive Units contain the same vesting attributes as Incentive Units granted as a result of the Reclassification. Time-Vesting Incentive Units Exit-Vesting Incentive Units Number of Weighted- Number of Weighted- Effect of Reorganization and IPO as of February 10, 2021 6,353,868 $ 12.36 4,235,912 $ 12.36 Granted 351,387 38.72 308,850 32.18 Vested ( 1,270,779 ) 12.25 — — Forfeited ( 263,745 ) 11.64 ( 219,894 ) 11.64 Unvested as of December 31, 2021 5,170,731 $ 14.22 4,324,868 $ 13.81 |
RSU's | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Information about Restricted Shares | The Company did not recognize any incremental fair value due to the reclassification of awards as the fair value per award was the same immediately prior to and after the Reclassification. Time-Vesting Restricted Shares of Class A Common Stock Exit-Vesting Restricted Shares of Class A Common Stock Number of Number of Effect of Reorganization and IPO as of February 10, 2021 248,593 163,154 Granted — — Vested ( 52,013 ) — Forfeited ( 97,863 ) ( 80,943 ) Unvested as of December 31, 2021 98,717 82,211 |
Summary of Time Vesting RSUs and Exit Vesting RSUs Granted | Exit-Vesting RSUs that were granted as a result of the Reclassification contain similar vesting requirements to the previously Exit-Vesting Phantom Class B Units. Time-Vesting RSUs Exit-Vesting RSUs Number of Weighted- Number of Weighted- Effect of Reorganization and IPO as of February 10, 2021 2,084,209 $ 43.00 1,389,018 $ 30.52 Granted 1,411,704 47.91 — — Vested ( 416,268 ) 42.99 — — Forfeited ( 275,702 ) 44.16 ( 171,867 ) 30.52 Unvested as of December 31, 2021 2,803,943 $ 45.36 1,217,151 $ 30.52 |
Time-Vesting Awards | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Assumption Ranges and Fair Value Per Unit | The fair value of Time-Vesting awards granted or modified at the time of the IPO was determined using the Black-Scholes option pricing model with the following assumption ranges and fair value p er unit: Volatility 55 %- 60 % Expected Life 0.5 - 7.4 years Risk-free rate 0.1 %- 0.8 % Fair value per unit $ 43.00 Dividend yield 0.0 % Discount for lack of marketability (1) 15 % - 25 % |
Summary of Time Vesting RSUs and Exit Vesting RSUs Granted | The following table summarizes the Company’s option activity as it relates to Time-Vesting stock options as of December 31, 2021: December 31, 2021 Number of Weighted- Weighted- Outstanding as of December 31, 2020 — $ — $ — Granted 2,289,685 43.68 22.88 Vested ( 66,728 ) 43.00 21.87 Forfeited ( 239,001 ) 43.00 22.27 Outstanding as of December 31, 2021 1,983,956 $ 43.78 $ 22.99 Exercisable as of December 31, 2021 54,060 43.00 21.89 |
Exit-Vesting Awards | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Summary of Assumption Ranges and Fair Value Per Unit | The fair value of Exit-Vesting awards granted or modified at the time of the IPO was determined using a Monte Carlo simulation approach in an option pricing framework, where the common stock price of the Company was evolved using a Geometric Brownian Motion over a period from the Valuation Date to the date of Management's expected exit date - a date at which MOIC and IRR realized by the Sponsor can be calculated ("Sponsor Exit"), with the following assumption ranges and fair value p er unit: Volatility 55 % Expected Life 1.8 years Risk-free rate 0.1 % Fair value per unit $ 43.00 Dividend yield 0.0 % Discount for lack of marketability (1) 15 % |
Summary of Option Activity | The following table summarizes the Company’s option activity as it relates to Exit-Vesting stock options as of December 31, 2021: December 31, 2021 Number of Weighted- Weighted- Outstanding as of December 31, 2020 — $ — $ — Granted 222,424 43.00 18.10 Exercised — — — Forfeited — — — Outstanding as of December 31, 2021 222,424 $ 43.00 $ 18.10 Exercisable as of December 31, 2021 — — — |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transaction [Line Items] | |
Schedule of Related Party Transactions | The following table summarizes balances with related parties (in thousands): Successor Predecessor Related Party relationship Type of Transaction Financial Statement Line Year Period from Period from Year Other Cost recharges General and $ — $ 2,514 $ — $ — Other Marketing costs Selling and marketing expense 3,661 — — — Other Tax receivable agreement liability remeasurement benefit Other income (expense), net 1,112 — — — Company owned by a Dividends paid to Dividends paid — 51,326 — 4,919 Company owned by a Loans repaid by Whitney Wolfe Herd Limited Partners’ interest 95,465 25,626 — — Company owned by a Dividends paid Dividends paid — — — 2,736 Parent Company of the Predecessor Dividends paid Dividends paid — — — 9,864 Parent Company Dividends paid Dividends paid — 292,530 — — Related Party relationship Type of Transaction Financial Statement Line December 31, December 31, Other Tax receivable agreement Payable to related parties pursuant to a tax receivable agreement $ 388,780 $ — |
Segment and Geographic Inform_2
Segment and Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Summary of Revenue by Geographic Area | The information below summarizes revenue by geographic area, based on customer location (in thousands): Successor Predecessor Year Period from Period from Year North America $ 442,146 $ 301,878 $ 21,014 $ 257,716 Rest of the world 323,514 240,314 18,976 231,224 Total $ 765,660 $ 542,192 $ 39,990 $ 488,940 |
Summary of Property and Equipment by Geographic Area | The information below summarizes property and equipment, net by geographic area (in thousands): December 31, December 31, 2021 2020 United Kingdom $ 6,035 $ 5,202 Czech Republic 3,234 5,067 United States 3,183 4,542 Rest of the world 2,175 2,022 Total $ 14,627 $ 16,833 |
Organization and Basis of Pre_2
Organization and Basis of Presentation - Additional Information (Details) - USD ($) | Sep. 15, 2021 | Feb. 16, 2021 | Jan. 28, 2020 | Dec. 31, 2021 | Mar. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 |
Class Of Stock [Line Items] | |||||||||
Proceeds from issuance of Class A common stock sold in initial public offering, net of offering costs | $ 0 | $ 0 | $ 2,358,371,000 | $ 0 | |||||
Value of shares redeemed during period | $ 1,018,365,000 | ||||||||
IPO [Member] | |||||||||
Class Of Stock [Line Items] | |||||||||
Stockholders Equity Effect Of Reorganization Transactions Value | $ 95,700,000 | ||||||||
Common Class A | |||||||||
Class Of Stock [Line Items] | |||||||||
Assumed shares outstanding upon exchange of common units on one-for-one basis | 187,986,526 | 187,986,526 | |||||||
Common Class A | IPO [Member] | |||||||||
Class Of Stock [Line Items] | |||||||||
Share issuance (Shares) | 57,500,000 | 57,500,000 | |||||||
Offering price per share | $ 43 | ||||||||
Proceeds from issuance of Class A common stock sold in initial public offering, net of offering costs | $ 2,361,200,000 | ||||||||
Value of shares redeemed during period | $ 1,991,600,000 | $ 1,991,600,000 | |||||||
Stock issued for purchase or redemption of shares | 48,500,000 | 48,500,000 | 48,500,000 | ||||||
Common Class A | Secondary Offering | |||||||||
Class Of Stock [Line Items] | |||||||||
Share issuance (Shares) | 20,700,000 | 9,200,000 | |||||||
Offering price per share | $ 54 | ||||||||
Proceeds from issuance of Class A common stock sold in initial public offering, net of offering costs | $ 9,200,000 |
Summary of Selected Significa_4
Summary of Selected Significant Accounting Policies - Additional Information (Details) - USD ($) | 1 Months Ended | 11 Months Ended | 12 Months Ended | ||
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Product Information [Line Items] | |||||
Description of performance obligations | As permitted under the practical expedient available under ASC 606, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts for which the Company recognizes revenue at the amount which it has the right to invoice for services performed. | ||||
Deferred revenue | $ 31,269,000 | $ 39,924,000 | $ 31,269,000 | ||
Deferred revenue recognized | $ 10,600,000 | 9,600,000 | $ 31,300,000 | $ 23,400,000 | |
Percentage of benefit payable to IPO owners | 85.00% | ||||
Advertising expense | 9,800,000 | 138,000,000 | $ 175,000,000 | 130,400,000 | |
Foreign currencies gain loss | 198,000 | (6,945,000) | 4,084,000 | (600,000) | |
Allowances for credit loss expenses | 0 | 0 | |||
Impairment Charges | $ 26,400,000 | ||||
Estimated useful life of the applicable software | 3 years | ||||
Right-of-use assets | 11,711,000 | $ 26,410,000 | $ 11,711,000 | ||
Operating lease liability | $ 25,609,000 | ||||
Description of benefit amount | Measurement (step two) determines the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. | ||||
Other Expense | |||||
Product Information [Line Items] | |||||
Foreign currencies gain loss | $ (600,000) | $ (14,100,000) | $ 4,500,000 | $ (1,200,000) | |
Indefinite-lived Intangible Assets [Member] | |||||
Product Information [Line Items] | |||||
Impairment Charges | $ 0 | ||||
Accounts Receivable | Customer Concentration Risk | Third Party Aggregator One | |||||
Product Information [Line Items] | |||||
Concentration of credit risk percentage | 71.00% | 56.00% | 48.00% | ||
Accounts Receivable | Customer Concentration Risk | Third Party Aggregator Two | |||||
Product Information [Line Items] | |||||
Concentration of credit risk percentage | 14.00% | 12.00% | |||
Accounts Receivable | Customer Concentration Risk | Third Party Aggregator Three | |||||
Product Information [Line Items] | |||||
Concentration of credit risk percentage | 10.00% | ||||
Revenue [Member] | Customer Concentration Risk | No Customer [Member] | |||||
Product Information [Line Items] | |||||
Concentration of credit risk percentage | 10.00% | 10.00% | 10.00% | 10.00% |
Summary of Selected Significa_5
Summary of Selected Significant Accounting Policies - Summary of Revenue Across Apps (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Disaggregation Of Revenue [Line Items] | ||||
Revenue | $ 39,990 | $ 542,192 | $ 765,660 | $ 488,940 |
Bumble App | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue | 23,256 | 337,237 | 532,916 | 275,545 |
Badoo App and Other | ||||
Disaggregation Of Revenue [Line Items] | ||||
Revenue | $ 16,734 | $ 204,955 | $ 232,744 | $ 213,395 |
Summary of Selected Significa_6
Summary of Selected Significant Accounting Policies - Schedule of Estimated Useful Lives of Assets (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Leasehold Improvements | |
Property Plant And Equipment [Line Items] | |
Useful life of property plant equipment | 5 years |
Furniture and Fixtures | |
Property Plant And Equipment [Line Items] | |
Useful life of property plant equipment | 4 years |
Computer Equipment | |
Property Plant And Equipment [Line Items] | |
Useful life of property plant equipment | 3 years |
Summary of Selected Significa_7
Summary of Selected Significant Accounting Policies - Schedule of Estimated Useful Lives of Definite Lived Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life of definite lived intangible assets, years | 3 years |
User Base | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life of definite lived intangible assets, years | 2 years 6 months |
White Label Contracts | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life of definite lived intangible assets, years | 8 years |
Trademark | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life of definite lived intangible assets, years | 10 years |
Domain | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life of definite lived intangible assets, years | 3 years |
Developed Technology | |
Finite-Lived Intangible Assets [Line Items] | |
Useful life of definite lived intangible assets, years | 5 years |
Leases (Additional Information)
Leases (Additional Information) (Details) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020USD ($) | Dec. 31, 2020USD ($)NumberOfLease | Dec. 31, 2021USD ($)NumberOfLease | Dec. 31, 2019USD ($) | |
Lessee, Lease, Description [Line Items] | ||||
Short term lease expenses amount | $ 0 | $ 300 | $ 400 | $ 500 |
Sublease Income | $ 46 | $ 502 | $ 561 | $ 559 |
Number of leases with Residual Value guarantee | NumberOfLease | 0 | 0 | ||
Right-of-use assets | $ 11,711 | $ 26,410 | ||
Operating lease liability | 25,609 | |||
United Kingdom, the United States and Russia [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Right-of-use assets | 19,600 | |||
Operating lease liability | $ 19,600 |
Leases - Components of lease co
Leases - Components of lease cost (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Leases [Abstract] | ||||
Operating lease cost | $ 410 | $ 4,165 | $ 5,438 | $ 5,704 |
Expense relating to short-term leases | 36 | 331 | 363 | 467 |
Income from subleasing right-of-use assets | (46) | (502) | (561) | (559) |
Total lease cost | $ 400 | $ 3,994 | $ 5,240 | $ 5,612 |
Leases - Supplemental cash flow
Leases - Supplemental cash flow information (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Leases [Abstract] | ||||
Cash paid for amounts included in the measurement of lease liabilities | $ 633 | $ 5,886 | $ 5,464 | $ 4,753 |
Right-of-use assets obtained in exchange for lease liabilities | $ 0 | $ 146 | $ 19,570 | $ 2,960 |
Leases - Supplemental balance s
Leases - Supplemental balance sheet information (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Right-of-use assets | $ 26,410 | $ 11,711 |
Liabilities: | ||
Accrued expenses and other current liabilities | 111,482 | 180,986 |
Other Liabilities | 21,711 | $ 5,831 |
Total lease liabilities | $ 25,609 | |
Weighted average remaining operating lease term (years) | 6 years 9 months 18 days | 2 years 10 months 24 days |
Weighted average operating lease discount rate | 5.00% | 6.50% |
Accrued Expenses and Other Current Liabilities [Member] | ||
Liabilities: | ||
Accrued expenses and other current liabilities | $ 3,898 | $ 4,933 |
Operating Lease Liabilities [Member] | ||
Liabilities: | ||
Total lease liabilities | $ 25,609 | $ 10,764 |
Leases - Maturities on lease li
Leases - Maturities on lease liabilities (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Leases [Abstract] | |
2022 | $ 4,037 |
2023 | 5,238 |
2024 | 2,109 |
2025 | 5,584 |
2026 | 5,241 |
Thereafter | 8,105 |
Total lease payments | 30,314 |
Less: imputed interest | (4,705) |
Operating lease liability | $ 25,609 |
Income Taxes - U.S. and Foreign
Income Taxes - U.S. and Foreign (Loss) Earnings Before Income Taxes and Noncontrolling Interests (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||||
U.S. | $ (168) | $ (41,703) | $ (177,893) | |
Foreign | (32,023) | (60,357) | 28,767 | |
Income (loss) before income taxes | $ (32,191) | $ (102,060) | $ (149,126) | $ 91,982 |
Income Taxes - Components of th
Income Taxes - Components of the Income Tax Provision (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Current income tax (benefit) provision: | ||||
State | $ 0 | $ 162 | $ (122) | |
Foreign | 452 | 8,753 | 10,680 | |
Current income tax (benefit) provision: | 452 | 8,915 | 10,558 | |
Deferred income tax provision: | ||||
Federal | (100) | 192 | ||
State | 0 | (91) | 0 | |
Foreign | (87) | (598) | (446,821) | |
Deferred income tax (benefit) provision | (87) | (789) | (446,629) | |
Income tax (benefit) provision | $ 365 | $ 8,126 | $ (436,071) | $ 6,138 |
Income Taxes - Significant Defe
Income Taxes - Significant Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets: | ||
Investment in partnership | $ 164,220 | |
Depreciation and amortization | 275 | |
Net operating loss | 42,229 | 8,373 |
Interest expense carry forward | 1,530 | |
Tax Receivable Agreement | 31,223 | |
Share-based compensation | 14,405 | |
Other | 2,991 | 4,553 |
Total deferred tax assets | 256,873 | 12,926 |
Less: Valuation allowance | (237,783) | (8) |
Deferred tax assets, net of valuation allowance | 19,090 | 12,918 |
Deferred tax liabilities: | ||
Depreciation and amortization | (441,005) | |
Total deferred tax liabilities | (441,005) | |
Deferred tax (liabilities) assets, net | $ 19,090 | $ 428,087 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | ||
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule Of Income Tax Disclosure [Line Items] | |||||
Net operating loss carryforward, foreign | $ 1,700 | ||||
Net, operating loss carryforward, federal | 34,400 | ||||
Net operating loss carryforward, state | $ 4,100 | ||||
Federal income tax rate | 35.00% | 35.00% | 21.00% | ||
Unrecognized Tax Benefits | $ 0 | $ 1,500 | $ 0 | ||
Deferred tax assets related to federal | (100) | 192 | |||
Deferred tax assets related to state | 0 | (91) | 0 | ||
Deferred tax assets related to foreign | (87) | (598) | (446,821) | ||
Income tax benefit | $ 365 | 8,126 | (436,071) | $ 6,138 | |
Deferred Income Tax Liabilities Net | $ 428,087 | $ 428,087 | |||
MALTA | |||||
Schedule Of Income Tax Disclosure [Line Items] | |||||
Federal income tax rate | 35.00% | ||||
UNITED STATES | |||||
Schedule Of Income Tax Disclosure [Line Items] | |||||
Federal income tax rate | 21.00% | ||||
Deferred tax benefit | 441,500 | ||||
Maltese and UK | |||||
Schedule Of Income Tax Disclosure [Line Items] | |||||
Income tax benefit | 436,100 | ||||
Deferred Income Tax Liabilities Net | $ 441,500 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of the Income Tax (Details) | 1 Months Ended | 11 Months Ended | 12 Months Ended |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |||
Income tax provision at the Malta statutory rate of 35% | 35.00% | 35.00% | 21.00% |
Nondeductible expenses | (39.00%) | (77.00%) | |
State taxes, net of federal benefit | 1.00% | ||
Non-controlling interest | (14.00%) | ||
Effect of foreign taxes | (3.00%) | ||
Share-based compensation | (3.00%) | ||
Impact of IP realignment | 0.00% | 0.00% | 296.00% |
Tax rebate | 0.00% | ||
Tax rate differential | 4.00% | 25.00% | 0.00% |
Valuation allowance | 0.00% | 0.00% | |
Tax rate change | 0.00% | (22.00%) | |
Other | 0.00% | 2.00% | (1.00%) |
Income tax provision | (1.00%) | (8.00%) | 292.00% |
Income Taxes - Reconciliation_2
Income Taxes - Reconciliation of the Income Tax (Parenthetical) (Details) | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Schedule Of Income Tax Disclosure [Line Items] | ||||
Federal income tax rate | 35.00% | 35.00% | 21.00% | |
MALTA | ||||
Schedule Of Income Tax Disclosure [Line Items] | ||||
Federal income tax rate | 35.00% |
Income Taxes - Summary of rollf
Income Taxes - Summary of rollforward of unrecognized tax benefits (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Income Tax Disclosure [Abstract] | |
Unrecognized Tax Benefits, Beginning Balance | $ 0 |
Additions based on tax positions related to the current year | 1,500 |
Unrecognized Tax Benefits, Ending Balance | $ 1,500 |
Payable to Related Parties Pu_2
Payable to Related Parties Pursuant to a Tax Receivable Agreement - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | Sep. 15, 2021 | Feb. 16, 2021 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 |
Schedule Of Tax Receivable Agreement [Line Items] | |||||
Percentage of tax receivable agreement | 85.00% | ||||
Payable to related parties pursuant to a tax receivable agreement | $ 388,780 | $ 0 | |||
Tax receivable agreement additional liability | 280,700 | ||||
Tax receivable agreement liability, total | 669,500 | ||||
IPO [Member] | |||||
Schedule Of Tax Receivable Agreement [Line Items] | |||||
Payments under tax receivable | 2,603,000 | ||||
Allocable share of existing tax basis acquired | 1,728,000 | ||||
Deferred tax benefit | $ 0 | ||||
Common Class A | IPO [Member] | |||||
Schedule Of Tax Receivable Agreement [Line Items] | |||||
Share issued, per share | $ 43 | ||||
Share issuance (Shares) | 57,500,000 | 57,500,000 | |||
Common Class A | Secondary Offering | |||||
Schedule Of Tax Receivable Agreement [Line Items] | |||||
Share issuance (Shares) | 20,700,000 | 9,200,000 |
Business Combination - Addition
Business Combination - Additional Information (Details) - USD ($) $ in Thousands | Jan. 29, 2020 | Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Business Acquisition [Line Items] | ||||
Business acquisition transaction costs | $ 48,200 | |||
Worldwide Vision Limited | ||||
Business Acquisition [Line Items] | ||||
Purchase price | $ 2,850,962 | |||
Business acquisition transaction costs | $ 40,300 | $ 48,200 | ||
Transaction costs incurred by the predecessor associated with the Sponsor acquisition | $ 40,300 | |||
Business acquisitions, purchase price | $ 25,200 |
Business Combination - Summary
Business Combination - Summary of Purchase Consideration (Details) - Worldwide Vision Limited $ in Thousands | Jan. 29, 2020USD ($) |
Business Acquisition [Line Items] | |
Cash paid to former owners of Worldwide Vision Limited | $ 2,239,827 |
Issued ownership interest in the Company | 349,992 |
Cash paid to related party | 125,000 |
Settlement of amounts owed to Worldwide Vision Limited by former owners | 42,075 |
Buyout of minority shareholders of a subsidiary | 44,750 |
Consideration related to holdback settlement | 36,418 |
Fair value of contingent earn-out liability | 12,900 |
Total purchase consideration | $ 2,850,962 |
Business Combination - Summar_2
Business Combination - Summary of Purchase Price Allocation to Estimated Fair Values of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Jan. 29, 2020 | Dec. 31, 2021 | Dec. 31, 2020 |
Less fair value of net assets acquired: | |||
Intangible assets | $ 1,785,000 | ||
Goodwill | $ 1,540,112 | $ 1,540,915 | |
Worldwide Vision Limited | |||
Business Acquisition [Line Items] | |||
Purchase price | 2,850,962 | ||
Less fair value of net assets acquired: | |||
Cash and cash equivalents | 53,927 | ||
Other current assets | 127,464 | ||
Property and equipment | 14,241 | ||
Intangible assets | 1,785,000 | ||
Other noncurrent assets | 17,826 | ||
Deferred revenue | (9,600) | ||
Other current liabilities | (143,293) | ||
Deferred income taxes | (398,688) | ||
Other long-term liabilities | (51,878) | ||
Net assets acquired | 1,394,999 | ||
Goodwill | $ 1,455,963 |
Business Combination - Summar_3
Business Combination - Summary of Fair Values of Identifiable Intangible Assets Acquired at Date of Sponsor Acquisition (Details) - USD ($) $ in Thousands | Jan. 29, 2020 | Dec. 31, 2021 | Dec. 31, 2020 |
Business Acquisition [Line Items] | |||
Acquisition Date Fair Value | $ 1,785,000 | ||
Brands | |||
Business Acquisition [Line Items] | |||
Acquisition Date Fair Value | 1,430,000 | ||
Developed Technology | |||
Business Acquisition [Line Items] | |||
Acquisition Date Fair Value | $ 220,000 | ||
Weighted- Average Useful Life (Years) | 5 years | ||
User Base | |||
Business Acquisition [Line Items] | |||
Acquisition Date Fair Value | $ 105,000 | ||
Weighted- Average Useful Life (Years) | 2 years 6 months | 7 months 6 days | 1 year 7 months 6 days |
White Label Contracts | |||
Business Acquisition [Line Items] | |||
Acquisition Date Fair Value | $ 30,000 | ||
Weighted- Average Useful Life (Years) | 8 years | 7 years 1 month 6 days |
Business Combination - Summar_4
Business Combination - Summary of Proforma financial information (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | ||
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | |||||
Net loss | $ (34,473) | $ (110,994) | $ 317,779 | $ 66,146 | |
Worldwide Vision Limited | |||||
Business Acquisition [Line Items] | |||||
Revenue | $ 578,322 | 477,363 | |||
Net loss | $ (71,891) | $ (98,175) |
Property and Equipment, Net - S
Property and Equipment, Net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | $ 29,867 | $ 24,602 |
Accumulated depreciation | (15,240) | (7,769) |
Total property and equipment, net | 14,627 | 16,833 |
Computer Equipment | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | 21,675 | 18,423 |
Leasehold Improvements | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | 7,288 | 5,318 |
Furniture and Fixtures | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | $ 904 | $ 861 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Property Plant And Equipment [Line Items] | ||||
Depreciation expense related to property and equipment, net | $ 0.4 | $ 7.4 | $ 9.1 | $ 6.7 |
Computer Equipment | ||||
Property Plant And Equipment [Line Items] | ||||
Written off of fully depreciated computer equipment | $ 20.8 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets, Net - Summary of Changes in Carrying amount of Goodwill (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($) | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Beginning balance | $ 1,540,915 | |
Goodwill adjustment, net | (803) | [1] |
Ending balance | $ 1,540,112 | |
[1] | Relates to the impact of $ 0.8 million of deferred income taxes. |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | ||
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||||
Impairment charges for goodwill and indefinite-lived intangible asset | $ 0 | $ 0 | |||
Impairment losses | $ 0 | $ 0 | 26,431 | $ 0 | |
Increase (decrease) in deferred income taxes | 800 | ||||
Amortization expense related to intangible assets, net | $ 0 | $ 84,400 | $ 97,900 | $ 100 | |
Impairment charges of definite-lived intangibles assets | $ 0 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets, Net - Summary of Intangible Assets, Net (Details) - USD ($) $ in Thousands | Jan. 29, 2020 | Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | $ 1,902,513 | $ 1,911,267 | $ 1,902,513 | |||
Accumulated Amortization | (90,103) | (188,038) | (90,103) | |||
Impairment losses | $ 0 | 0 | (26,431) | $ 0 | ||
Net Carrying Amount | 1,812,410 | 1,696,798 | 1,812,410 | |||
Brands | ||||||
Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | 1,511,269 | 1,511,269 | 1,511,269 | |||
Accumulated Amortization | 0 | 0 | 0 | |||
Impairment losses | 0 | |||||
Net Carrying Amount | 1,511,269 | 1,511,269 | 1,511,269 | |||
Developed Technology | ||||||
Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | 244,813 | 244,813 | 244,813 | |||
Accumulated Amortization | (44,884) | (93,845) | (44,884) | |||
Impairment losses | 0 | |||||
Net Carrying Amount | 199,929 | $ 150,968 | $ 199,929 | |||
Weighted- Average Useful Life (Years) | 3 years 1 month 6 days | 4 years 1 month 6 days | ||||
User Base | ||||||
Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | 112,695 | $ 112,695 | $ 112,695 | |||
Accumulated Amortization | (41,322) | (86,399) | (41,322) | |||
Impairment losses | 0 | |||||
Net Carrying Amount | 71,373 | $ 26,296 | $ 71,373 | |||
Weighted- Average Useful Life (Years) | 2 years 6 months | 7 months 6 days | 1 year 7 months 6 days | |||
White Label Contracts | ||||||
Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | 33,384 | $ 33,384 | $ 33,384 | |||
Accumulated Amortization | (3,826) | 6,953 | (3,826) | |||
Impairment losses | (26,431) | |||||
Net Carrying Amount | 29,558 | 0 | $ 29,558 | |||
Weighted- Average Useful Life (Years) | 8 years | 7 years 1 month 6 days | ||||
Other | ||||||
Intangible Assets [Line Items] | ||||||
Gross Carrying Amount | 352 | 9,106 | $ 352 | |||
Accumulated Amortization | (71) | (841) | (71) | |||
Impairment losses | 0 | |||||
Net Carrying Amount | $ 281 | $ 8,265 | $ 281 | |||
Weighted- Average Useful Life (Years) | 5 years 3 months 18 days | 4 years |
Goodwill and Intangible Asset_6
Goodwill and Intangible Assets, Net - Summary of Amortization of Intangible Assets with Definite Lives (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
2022 | $ 76,928 |
2023 | 50,632 |
2024 | 49,953 |
2025 | 4,422 |
2026 and thereafter | 1,903 |
Total | $ 183,838 |
Other Financial Data - Summary
Other Financial Data - Summary of Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Assets [Abstract] | ||
Capitalized aggregator fees | $ 8,183 | $ 5,533 |
Prepayments | 10,989 | 6,435 |
Income tax receivable | 30,563 | 59,364 |
Capitalized initial public offering costs | 0 | 3,033 |
Other receivables | 3,016 | 7,022 |
Total other current assets | $ 52,751 | $ 81,387 |
Other Financial Data - Summar_2
Other Financial Data - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Payables And Accruals [Abstract] | ||
Legal liabilities | $ 8,767 | $ 55,144 |
Accrued expenses | $ 39,849 | $ 36,184 |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Total accrued expenses and other current liabilities | Total accrued expenses and other current liabilities |
Lease liabilities | $ 3,898 | $ 4,933 |
Income tax payable | 42,317 | 71,324 |
Other payables | 16,651 | 13,401 |
Total accrued expenses and other current liabilities | $ 111,482 | $ 180,986 |
Other Financial Data - Summar_3
Other Financial Data - Summary of Other Non-current Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Liabilities Noncurrent [Abstract] | ||
Lease liabilities | $ 21,711 | $ 5,831 |
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Total other liabilities | Total other liabilities |
Contingent earn-out liability | $ 96,600 | $ 40,700 |
Stock-based compensation liabilities | 0 | 13,765 |
Other liabilities | 935 | 1,894 |
Total other liabilities | $ 119,246 | $ 62,190 |
Other Financial Data - Summar_4
Other Financial Data - Summary of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Other Liabilities Noncurrent [Abstract] | ||||
Taxes paid | $ 0 | $ 42 | $ 33,421 | $ 3,996 |
Interest paid | $ 0 | $ 19,862 | $ 22,339 | $ 0 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - Fair Value Measurements, Recurring - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Assets: | ||
Assets | $ 376,793 | $ 129,744 |
Liabilities: | ||
Liabilities | 96,600 | 42,286 |
Cash and Cash Equivalents | ||
Assets: | ||
Assets | 369,175 | 128,029 |
Derivative Asset | ||
Assets: | ||
Assets | 5,008 | |
Deposits on Credit Card | ||
Assets: | ||
Assets | 257 | |
Equity Investments | ||
Assets: | ||
Assets | 2,610 | 1,458 |
Level 1 | ||
Assets: | ||
Assets | 369,175 | 128,286 |
Liabilities: | ||
Liabilities | 0 | 0 |
Level 1 | Cash and Cash Equivalents | ||
Assets: | ||
Assets | 369,175 | 128,029 |
Level 1 | Derivative Asset | ||
Assets: | ||
Assets | 0 | |
Level 1 | Deposits on Credit Card | ||
Assets: | ||
Assets | 257 | |
Level 1 | Equity Investments | ||
Assets: | ||
Assets | 0 | 0 |
Level 2 | ||
Assets: | ||
Assets | 5,008 | 0 |
Liabilities: | ||
Liabilities | 0 | 1,586 |
Level 2 | Cash and Cash Equivalents | ||
Assets: | ||
Assets | 0 | 0 |
Level 2 | Derivative Asset | ||
Assets: | ||
Assets | 5,008 | |
Level 2 | Deposits on Credit Card | ||
Assets: | ||
Assets | 0 | |
Level 2 | Equity Investments | ||
Assets: | ||
Assets | 0 | 0 |
Level 3 | ||
Assets: | ||
Assets | 2,610 | 1,458 |
Liabilities: | ||
Liabilities | 96,600 | 40,700 |
Level 3 | Cash and Cash Equivalents | ||
Assets: | ||
Assets | 0 | 0 |
Level 3 | Derivative Asset | ||
Assets: | ||
Assets | 0 | |
Level 3 | Deposits on Credit Card | ||
Assets: | ||
Assets | 0 | |
Level 3 | Equity Investments | ||
Assets: | ||
Assets | 2,610 | 1,458 |
Contingent Earn-out Liability | ||
Liabilities: | ||
Liabilities | 96,600 | 40,700 |
Contingent Earn-out Liability | Level 1 | ||
Liabilities: | ||
Liabilities | 0 | 0 |
Contingent Earn-out Liability | Level 2 | ||
Liabilities: | ||
Liabilities | 0 | 0 |
Contingent Earn-out Liability | Level 3 | ||
Liabilities: | ||
Liabilities | $ 96,600 | 40,700 |
Derivative Liability | ||
Liabilities: | ||
Liabilities | 1,586 | |
Derivative Liability | Level 1 | ||
Liabilities: | ||
Liabilities | 0 | |
Derivative Liability | Level 2 | ||
Liabilities: | ||
Liabilities | 1,586 | |
Derivative Liability | Level 3 | ||
Liabilities: | ||
Liabilities | $ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2019USD ($) | |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||
Impairment losses | $ 0 | $ 0 | $ 26,431,000 | $ 0 |
Contingent Consideration Arrangement | Worldwide Vision Limited | Maximum | ||||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||
Maximum possible earn-out payment to former shareholders | $ 150,000,000 | |||
Contingent Earn-out Liability | Contingent Consideration Arrangement | ||||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||
Risk Free Rate | 0.003 | 0.005 | ||
Fair Value on Recurring Basis | ||||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||
Liabilities | $ 42,286,000 | $ 96,600,000 | ||
Fair Value on Recurring Basis | Contingent Earn-out Liability | ||||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||
Liabilities | 40,700,000 | 96,600,000 | ||
Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | ||||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||
Liabilities | 40,700,000 | 96,600,000 | ||
Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | Contingent Earn-out Liability | ||||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||
Liabilities | 40,700,000 | 96,600,000 | ||
Fair Value on Recurring Basis | Significant Unobservable Inputs (Level 3) | Contingent Earn-out Liability | General and Administrative Expense | ||||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||
Contingent earnout liability movement | $ 27,800,000 | $ 55,900,000 |
Debt - Summary of Debt (Details
Debt - Summary of Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Disclosure [Abstract] | ||
Term Loan due January 29, 2027 | $ 638,563 | $ 845,000 |
Less: unamortized debt issuance costs | 15,624 | 18,786 |
Less: current portion of debt, net | 2,588 | 5,338 |
Total long-term debt, net | $ 620,351 | $ 820,876 |
Debt - Additional Information (
Debt - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 11 Months Ended | 12 Months Ended | ||||
Jan. 28, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 19, 2020 | Jan. 29, 2020 | |
Line Of Credit Facility [Line Items] | ||||||||
Debt issuance costs incurred and paid | $ 0 | $ 21,105 | $ 0 | $ 0 | ||||
Repayment of term loan | $ 0 | $ 5,000 | $ 206,438 | $ 0 | ||||
Initial Term Loan Facility [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Interest rates in effect | 2.84% | 2.84% | ||||||
Revolving Credit Facility [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Maturity date | Jan. 29, 2025 | |||||||
Revolving Credit Facility [Member] | Minimum [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Applicable margin for borrowings with respect to base rate borrowings | 1.00% | |||||||
Revolving Credit Facility [Member] | Maximum [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Applicable margin for borrowings with respect to base rate borrowings | 1.50% | |||||||
Term Loan Facility [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Maturity date | Jan. 29, 2027 | |||||||
Term Loan Facility [Member] | Minimum [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Applicable margin for borrowings with respect to LIBOR rate borrowings in addition to base rates | 2.00% | |||||||
Term Loan Facility [Member] | Maximum [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Applicable margin for borrowings with respect to LIBOR rate borrowings in addition to base rates | 2.50% | |||||||
Incremental Term Loan Facility [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Repayment of term loan | $ 200,000 | |||||||
Interest rates in effect | 3.75% | 3.75% | ||||||
Original Credit Agreement [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Maximum borrowing capacity | $ 625,000 | |||||||
Debt issuance costs incurred and paid | $ 16,300 | |||||||
Original Credit Agreement [Member] | Initial Term Loan Facility [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Debt instrument, Term | 7 years | |||||||
Line of credit | $ 575,000 | |||||||
Original Credit Agreement [Member] | Revolving Credit Facility [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Debt instrument, Term | 5 years | |||||||
Line of credit | $ 50,000 | |||||||
Original Credit Agreement [Member] | Letters Of Credit [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Line of credit | $ 25,000 | |||||||
Amended Credit Agreement [Member] | Term Loan Facility [Member] | ||||||||
Line Of Credit Facility [Line Items] | ||||||||
Debt issuance costs incurred and paid | $ 4,800 | |||||||
Aggregate principal amount | $ 275,000 |
Debt - Summary of Future Maturi
Debt - Summary of Future Maturities of Long-term Debt (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Maturities Of Long Term Debt [Abstract] | |
2022 | $ 5,750 |
2023 | 5,750 |
2024 | 5,750 |
2025 | 5,750 |
2026 and thereafter | 615,563 |
Total | $ 638,563 |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | Sep. 15, 2021 | Apr. 01, 2021 | Feb. 16, 2021 | Oct. 28, 2020 | Jan. 28, 2020 | Mar. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 |
Class Of Stock [Line Items] | ||||||||||
Share issuance Amount | $ 2,358,371 | $ 104 | ||||||||
Value of shares redeemed during period | 1,018,365 | |||||||||
Repayment of term loan | $ 0 | $ 5,000 | $ 206,438 | 0 | ||||||
Number of shares authorized | 600,000,000 | 600,000,000 | ||||||||
Par value | $ 0.01 | $ 0.01 | ||||||||
Preferred stock issued | 0 | 0 | ||||||||
Dividend Declared [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Dividend declared | $ 360,000 | |||||||||
Dividend Paid [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Dividend paid | $ 334,300 | 0 | $ 0 | 5,400 | ||||||
Cash dividend on limited partner units declared and paid | 334,300 | $ 0 | $ 0 | $ 5,400 | ||||||
Dividend Outstanding [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Common stock outstanding | 0 | 0 | 0 | |||||||
Bumble Holdings [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Voting power percentage | 100.00% | |||||||||
Common Class A [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Number of shares authorized | 6,000,000,000 | 6,000,000,000 | ||||||||
Par value | $ 0.01 | $ 0.01 | ||||||||
Common stock, voting rights | one vote | |||||||||
Common stock, voting rights for principal stockholders | ten votes | |||||||||
Common stock outstanding | 0 | 129,212,949 | ||||||||
Stockholders agreement cease to own percentage | 7.50% | |||||||||
High vote termination date description | (i) seven years from the closing of this offering and (ii) the date the parties to the stockholders agreement cease to own in the aggregate 7.5% of the outstanding shares of Class A common stock, assuming exchange of all Common Units. | |||||||||
Common Class B [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Number of shares authorized | 1,000,000 | 1,000,000 | ||||||||
Par value | $ 0.01 | $ 0.01 | ||||||||
Common stock, voting rights | one vote | |||||||||
Common stock, voting rights for principal stockholders | 10 times | |||||||||
Common stock outstanding | 100 | 20 | ||||||||
Preferred Stock [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Number of shares authorized | 600,000,000 | |||||||||
Par value | $ 0.01 | |||||||||
Preferred stock issued | 0 | 0 | ||||||||
IPO [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Repayment of term loan | $ 25,600 | |||||||||
IPO [Member] | Common Class A [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Share issuance (Shares) | 57,500,000 | 57,500,000 | ||||||||
Offering price per share | $ 43 | |||||||||
Net proceeds after deducting underwriting discounts and commissions | $ 2,361,200 | |||||||||
Stock issued for purchase or redemption of shares | 48,500,000 | 48,500,000 | 48,500,000 | |||||||
Value of shares redeemed during period | $ 1,991,600 | $ 1,991,600 | ||||||||
Proceeds from the issuance used for repayment of debt, bear IPO expenses and for general corporate purposes | $ 369,600 | |||||||||
Stock issued during period shares used to repay outstanding indebtedness, bear IPO expenses and for general corporate purposes | 9,000,000 | |||||||||
Repayment of term loan | $ 200,000 | |||||||||
Secondary Offering [Member] | Common Class A [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Share issuance (Shares) | 20,700,000 | 9,200,000 | ||||||||
Offering price per share | $ 54 | |||||||||
Class A Units [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Limited partner’s interest, units outstanding | 2,453,784,599 | |||||||||
Class B Units [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Limited partner’s interest, units outstanding | 153,273,895 | |||||||||
Common Units [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Common units exchanged for Class A common stock | 4,455,510 | |||||||||
Common stock, conversion basis | one-for-one |
Earnings (Loss) per Share _ U_3
Earnings (Loss) per Share / Unit - Schedule of Earning (Loss) Per Share Unit (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | ||
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Earnings Per Share Basic And Diluted [Line Items] | |||||
Net earnings (loss) | $ (32,556) | $ (110,186) | $ (110,186) | $ 286,945 | $ 85,844 |
Net earnings (loss) attributable to noncontrolling interests | 1,917 | 808 | (30,834) | 19,698 | |
Net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners / Worldwide Vision Limited shareholders | $ (34,473) | (110,994) | 317,779 | $ 66,146 | |
Numerator | |||||
Allocation of net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners | (110,994) | 185,449 | |||
Less: net earnings (loss) attributable to participating securities | 454 | ||||
Net earnings (loss) attributable to common stockholders / unitholders | $ (110,994) | $ 184,995 | |||
Denominator | |||||
Weighted average number of shares of Class A common stock / units outstanding | 2,453,947,685 | 121,425,908 | |||
Basic earnings (loss) per share / unit | $ 0 | $ (0.05) | $ 1.52 | $ 0 | |
Numerator | |||||
Allocation of net earnings (loss) attributable to Bumble Inc. shareholders / Buzz Holdings L.P. owners | $ (110,994) | $ 181,003 | |||
Increase in net earnings (loss) attributable to common shareholders upon conversion of potentially dilutive Common Units | 104,328 | ||||
Less: net earnings (loss) attributable to participating securities | 443 | ||||
Net earnings (loss) attributable to common stockholders / unitholders | $ (110,994) | $ 284,888 | |||
Add: weighted-average effect of dilutive securities | |||||
Weighted Average Number of Shares Outstanding, Diluted, Total | 2,453,947,685 | 192,675,476 | |||
Diluted earnings (loss) per share / unit attributable to common stockholders / unitholders | $ 0 | $ (0.05) | $ 1.48 | $ 0 | |
Restricted Shares | |||||
Add: weighted-average effect of dilutive securities | |||||
Weighted Average Number Diluted Shares Outstanding Adjustment | |||||
RSU's | |||||
Add: weighted-average effect of dilutive securities | |||||
Weighted Average Number Diluted Shares Outstanding Adjustment | 1,033,701 | ||||
Options | |||||
Add: weighted-average effect of dilutive securities | |||||
Weighted Average Number Diluted Shares Outstanding Adjustment | 5,569 | ||||
Common Class A | |||||
Add: weighted-average effect of dilutive securities | |||||
Weighted Average Number Diluted Shares Outstanding Adjustment | 70,210,298 |
Stock-based Compensation - Sche
Stock-based Compensation - Schedule of Total Stock-based Compensation Cost (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Employee Service Share Based Compensation Allocation of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | $ 4,156 | $ 27,468 | $ 123,910 | $ 2,160 |
Cost of Revenue | ||||
Employee Service Share Based Compensation Allocation of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | 615 | 3,749 | ||
Selling and Marketing Expense | ||||
Employee Service Share Based Compensation Allocation of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | 75 | 2,055 | 12,925 | 421 |
General and Administrative Expense | ||||
Employee Service Share Based Compensation Allocation of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | 3,997 | 17,318 | 62,284 | 1,229 |
Product Development Expense | ||||
Employee Service Share Based Compensation Allocation of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | $ 84 | $ 7,480 | $ 44,952 | $ 510 |
Stock-based Compensation - Addi
Stock-based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands | Feb. 10, 2021shares | Jan. 28, 2020USD ($) | Feb. 15, 2021Plan | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2019USD ($) |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 4,156 | $ 27,468 | $ 123,910 | $ 2,160 | |||
Share price | $ / shares | $ 43 | $ 43 | |||||
Weighted average period | 3 years 1 month 6 days | ||||||
Employee stock purchase plan description | The number of shares reserved for issuance under the ESPP will be increased automatically on January 1 of each fiscal year beginning in 2022 by a number of shares of our Class A common stock equal to the lesser of (i) the positive difference between 1% of the shares outstanding on the final day of the immediately preceding fiscal year and the ESPP share reserve on the final day of the immediately preceding fiscal year; and (B) a smaller number of shares as may be determined by the Board | ||||||
Number of shares purchased under ESPP | shares | 4,500,000 | ||||||
Eligible compensation percentage of participants to purchase common stock through contributions | 15.00% | 15.00% | |||||
Percentage of purchase price of shares lower of the fair market value of common stock on grant date or purchase date | 85.00% | ||||||
Income tax benefit (provision) | (365) | (8,126) | $ 436,071 | (6,138) | |||
Proceeds from exercise of options | 0 | 0 | $ 545 | 0 | |||
Maximum | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Weighted-Average Remaining Contractual Term, Outstanding | 10 years | ||||||
Granted At Time Of I P O | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 600 | ||||||
2021 Omnibus Plan | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Reserved shares of common stock for issuance of awards | shares | 30,000,000 | 30,000,000 | |||||
Exit-Vesting Awards | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 26,300 | ||||||
Unrecognized compensation cost | $ 17,400 | $ 17,400 | |||||
Unrecognized compensation cost to be recognized over a weighted-average period | 3 years | ||||||
Time-Vesting Restricted Shares of Class A Common Stock | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of Awards, Granted | shares | 0 | ||||||
Exit-Vesting Restricted Shares of Class A Common Stock | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of Awards, Granted | shares | 0 | ||||||
Unrecognized compensation cost | $ 300 | $ 300 | |||||
Restricted Shares | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Weighted average period | 3 years 1 month 6 days | ||||||
Unrecognized compensation cost related to options | 300 | $ 300 | |||||
Time Vesting Stock Option | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of Options, Granted | shares | 2,289,685 | ||||||
Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares | $ 22.88 | ||||||
Unrecognized compensation cost to be recognized over a weighted-average period | 3 years 2 months 12 days | ||||||
Number of Options, Exercised | shares | 12,668 | ||||||
Unrecognized compensation cost related to options | 27,000 | $ 27,000 | |||||
Exit Vesting Stock Option | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of Options, Granted | shares | 222,424 | ||||||
Weighted-Average Grant Date Fair Value Per Share, Granted | $ / shares | $ 18.10 | ||||||
Unrecognized compensation cost to be recognized over a weighted-average period | 2 years | ||||||
Number of Options, Exercised | shares | 0 | ||||||
Unrecognized compensation cost related to options | 2,800 | $ 2,800 | |||||
Exit Vesting Stock Option | 2021 Omnibus Plan | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Share-based compensation arrangement by share-based payment award, award vesting rights | Exit-Vesting stock options vest upon satisfaction of a performance condition under which Blackstone and its affiliates receive cash proceeds in respect of certain MOIC and IRR hurdles, subject to the recipient’s continued employment at the time of satisfaction | ||||||
Time-Vesting Class B Units and Time-Vesting Phantom Class B Units | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Share-based payment award granted, percentage | 60.00% | ||||||
Share-based payment award service period | 5 years | ||||||
Exit-Vesting Class B Units and Exit-Vesting Phantom Class B Units | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Share-based payment award granted, percentage | 40.00% | ||||||
Time-Vesting Incentive Units | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Unrecognized compensation cost | $ 21,000 | $ 21,000 | |||||
Unrecognized compensation cost to be recognized over a weighted-average period | 3 years 3 months 18 days | ||||||
Time-Vesting Incentive Units | Incentive Units in Bumble Holdings | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of Awards, Granted | shares | 351,387 | ||||||
Exit-Vesting Incentive Units | Incentive Units in Bumble Holdings | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of Awards, Granted | shares | 308,850 | ||||||
Time-Vesting RSUs | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Unrecognized compensation cost | $ 72,800 | $ 72,800 | |||||
Weighted average period | 3 years 3 months 18 days | ||||||
Time-Vesting RSUs | RSU's | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of Awards, Granted | shares | 1,411,704 | ||||||
Time-Vesting RSUs | RSU's | Granted As Result Of Reclassification | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Vesting period | 5 years | ||||||
Time-Vesting RSUs | RSU's | Granted At Time Of I P O | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Vesting period | 4 years | ||||||
Exit Vesting Restricted Stock Units | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Unrecognized compensation cost | $ 24,900 | $ 24,900 | |||||
Weighted average period | 3 years 1 month 6 days | ||||||
Exit Vesting Restricted Stock Units | RSU's | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of Awards, Granted | shares | 0 | ||||||
General and Administrative Expense | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 3,997 | $ 17,318 | $ 62,284 | $ 1,229 | |||
Number of plans under which awards granted | Plan | 3 | ||||||
General and Administrative Expense | Incentive Units in Bumble Holdings | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Stock-based compensation expense | $ 6,900 |
Stock-based Compensation - Summ
Stock-based Compensation - Summary of Weighted-Average Assumptions Used in Monte Carlo Model (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Dividend yield | 0.00% |
Expected volatility | 58.00% |
Risk-free interest rate | 0.86% |
Expected time to liquidity event (years) | 4 years 8 months 12 days |
Stock-based Compensation - Su_2
Stock-based Compensation - Summary of Option Activity (Details) - $ / shares | 12 Months Ended |
Dec. 31, 2021 | |
Time-Vesting Stock Options | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Number of Options, Outstanding | 0 |
Number of Options, Granted | 2,289,685 |
Number of Options, Vested | 66,728 |
Options Exercised, Shares | (12,668) |
Number of Options, Forfeited | (239,001) |
Number of Options, Outstanding | 1,983,956 |
Number of Options, Exercisable | 54,060 |
Weighted-Average Exercise Price Per Share, Outstanding | $ 0 |
Weighted-Average Exercise Price Per Share, Granted | 43.68 |
Weighted-Average Exercise Price Per Share, Vested | 43 |
Weighted-Average Exercise Price Per Share, Forfeited | 43 |
Weighted-Average Exercise Price Per Share, Outstanding | 43.78 |
Weighted-Average Exercise Price Per Share, Exercisable | 43 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding | 0 |
Weighted-Average Grant Date Fair Value Per Share, Granted | 22.88 |
Weighted-Average Grant Date Fair Value, Vested | 21.87 |
Weighted-Average Grant Date Fair Value Per Share, Forfeited | 22.27 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding | 22.99 |
Weighted-Average Grant Date Fair Value Per Share, Exercisable | $ 21.89 |
Exit-Vesting Stock Options | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Number of Options, Outstanding | 0 |
Number of Options, Granted | 222,424 |
Options Exercised, Shares | 0 |
Number of Options, Forfeited | 0 |
Number of Options, Outstanding | 222,424 |
Number of Options, Exercisable | 0 |
Weighted-Average Exercise Price Per Share, Outstanding | $ 0 |
Weighted-Average Exercise Price Per Share, Granted | 43 |
Weighted-Average Exercise Price Per Share, Exercised | 0 |
Weighted-Average Exercise Price Per Share, Forfeited | 0 |
Weighted-Average Exercise Price Per Share, Outstanding | 43 |
Weighted-Average Exercise Price Per Share, Exercisable | 0 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding | 0 |
Weighted-Average Grant Date Fair Value Per Share, Granted | 18.10 |
Weighted-Average Grant Date Fair Value Per Share, Exercised | 0 |
Weighted-Average Grant Date Fair Value Per Share, Forfeited | 0 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding | 18.10 |
Weighted-Average Grant Date Fair Value Per Share, Exercisable | $ 0 |
Stock-based Compensation - Su_3
Stock-based Compensation - Summary of Information about Time-Vesting and Exit-Vesting Class B Units (Details) - Incentive Units | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Time-Vesting Class B Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Number of Awards, Beginning balance | shares | 91,910,366 |
Number of Awards, Granted | shares | 0 |
Number of Awards, Vested | shares | (12,260,439) |
Number of Awards, Forfeited | shares | (281,304) |
Number of Awards, Effect of Reorganization and IPO | shares | (91,629,062) |
Number of Awards, Ending balance | shares | 0 |
Weighted-Average Grant Date Fair Value, Beginning balance | $ / shares | $ 0.55 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 0 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 0.38 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 0.36 |
Weighted-Average Grant Date Fair Value, Effect of reorganization and IPO | $ / shares | 0.55 |
Weighted-Average Grant Date Fair Value, Ending balance | $ / shares | $ 0 |
Exit-Vesting Class B Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Number of Awards, Beginning balance | shares | 61,273,583 |
Number of Awards, Granted | shares | 0 |
Number of Awards, Vested | shares | 0 |
Number of Awards, Forfeited | shares | (234,420) |
Number of Awards, Effect of Reorganization and IPO | shares | (61,039,163) |
Number of Awards, Ending balance | shares | 0 |
Weighted-Average Grant Date Fair Value, Beginning balance | $ / shares | $ 0.43 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 0 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 0 |
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares | 0.25 |
Weighted-Average Grant Date Fair Value, Effect of reorganization and IPO | $ / shares | 0.43 |
Weighted-Average Grant Date Fair Value, Ending balance | $ / shares | $ 0 |
Stock-based Compensation - Su_4
Stock-based Compensation - Summary of Information about Time-Vesting and Exit-Vesting Class Phantom B Units (Details) - RSU's | 12 Months Ended |
Dec. 31, 2021shares | |
Time-Vesting Phantom Class B Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Number of Awards, Beginning balance | 39,456,172 |
Number of Awards, Granted | 0 |
Number of Awards, Vested | (7,151,666) |
Number of Awards, Forfeited | (101,891) |
Number of Awards, Effect of Reorganization and IPO | (39,354,281) |
Number of Awards, Ending balance | 0 |
Exit-Vesting Phantom Class B Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Number of Awards, Beginning balance | 26,304,120 |
Number of Awards, Granted | 0 |
Number of Awards, Vested | 0 |
Number of Awards, Forfeited | (69,781) |
Number of Awards, Effect of Reorganization and IPO | (26,234,339) |
Number of Awards, Ending balance | 0 |
Stock-based Compensation - Su_5
Stock-based Compensation - Summary of Assumption Ranges and Fair Value Per Unit (Details) | 12 Months Ended | |
Dec. 31, 2021$ / shares | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Volatility | 58.00% | |
Expected Life | 4 years 8 months 12 days | |
Risk-free rate | 0.86% | |
Fair value per unit | $ 43 | |
Dividend yield | 0.00% | |
Time-Vesting Awards | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Volatility | 60.00% | |
Expected Life | 7 years | |
Risk-free rate | 1.46% | |
Fair value per unit | $ 30.59 | |
Dividend yield | 0.00% | |
2021 Omnibus Plan | Exit-Vesting Awards | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Volatility | 55.00% | |
Expected Life | 1 year 9 months 18 days | |
Risk-free rate | 0.10% | |
Fair value per unit | $ 43 | |
Dividend yield | 0.00% | |
Discount for lack of marketability | 15.00% | [1] |
2021 Omnibus Plan | Time-Vesting Awards | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Volatility, Minimum | 55.00% | |
Volatility, Maximum | 60.00% | |
Risk-Free rate, Minimum | 0.10% | |
Risk-Free rate, Maximum | 0.80% | |
Fair value per unit | $ 43 | |
Dividend yield | 0.00% | |
2021 Omnibus Plan | Maximum | Time-Vesting Awards | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Expected Life | 7 years 4 months 24 days | |
Discount for lack of marketability | 25.00% | [1] |
2021 Omnibus Plan | Minimum | Time-Vesting Awards | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Expected Life | 6 months | |
Discount for lack of marketability | 15.00% | [1] |
[1] | (1) Discount for lack of marketability for Time-Vesting awards and Exit-Vesting awards is only applicable for Incentive Units granted in Bumble Holdings at the time of the IPO. |
Stock-based Compensation - Su_6
Stock-based Compensation - Summary of Information Around Incentive Units in Bumble Holdings (Details) - Incentive Units In Bumble Holdings [Member] - $ / shares | Feb. 10, 2021 | Dec. 31, 2021 |
Time Vesting Incentive Units [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of Awards, Effect of Reorganization and IPO | 6,353,868 | |
Number of Awards, Granted | 351,387 | |
Number of Awards, Vested | (1,270,779) | |
Number of Awards, Forfeited | (263,745) | |
Number of Awards, Unvested | 5,170,731 | |
Weighted-Average Grant Date Fair Value, Effect of reorganization and IPO | $ 12.36 | |
Weighted-Average Grant Date Fair Value, Granted | $ 38.72 | |
Weighted-Average Grant Date Fair Value, Vested | 12.25 | |
Weighted-Average Grant Date Fair Value, Forfeited | 11.64 | |
Weighted-Average Grant Date Fair Value, Unvested | $ 14.22 | |
Exit Vesting Incentive Units [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of Awards, Effect of Reorganization and IPO | 4,235,912 | |
Number of Awards, Granted | 308,850 | |
Number of Awards, Vested | 0 | |
Number of Awards, Forfeited | (219,894) | |
Number of Awards, Unvested | 4,324,868 | |
Weighted-Average Grant Date Fair Value, Effect of reorganization and IPO | $ 12.36 | |
Weighted-Average Grant Date Fair Value, Granted | $ 32.18 | |
Weighted-Average Grant Date Fair Value, Vested | 0 | |
Weighted-Average Grant Date Fair Value, Forfeited | 11.64 | |
Weighted-Average Grant Date Fair Value, Unvested | $ 13.81 |
Stock-based Compensation - Su_7
Stock-based Compensation - Summary of Information about Restricted Shares (Details) - shares | Feb. 10, 2021 | Dec. 31, 2021 |
Time Vesting Restricted Shares Of Class A Common Stock [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of Awards, Effect of Reorganization and IPO | 248,593 | |
Number of Awards, Granted | 0 | |
Number of Awards, Vested | (52,013) | |
Number of Awards, Forfeited | (97,863) | |
Number of Awards, Unvested | 98,717 | |
Exit Vesting Restricted Shares Of Class A Common Stock [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of Awards, Effect of Reorganization and IPO | 163,154 | |
Number of Awards, Granted | 0 | |
Number of Awards, Vested | 0 | |
Number of Awards, Forfeited | (80,943) | |
Number of Awards, Unvested | 82,211 |
Stock-based Compensation - Su_8
Stock-based Compensation - Summary of Time Vesting RSUs and Exit Vesting RSUs Granted (Details) - Restricted Stock Units R S U [Member] - $ / shares | Feb. 10, 2021 | Dec. 31, 2021 |
Exit Vesting Restricted Stock Units [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of Awards, Effect of Reorganization and IPO | 1,389,018 | |
Number of Awards, Granted | 0 | |
Number of Awards, Vested | 0 | |
Number of Awards, Forfeited | (171,867) | |
Number of Awards, Unvested | 1,217,151 | |
Weighted-Average Grant Date Fair Value, Effect of reorganization and IPO | $ 30.52 | |
Weighted-Average Grant Date Fair Value, Granted | $ 0 | |
Weighted-Average Grant Date Fair Value, Vested | 0 | |
Weighted-Average Grant Date Fair Value, Forfeited | 30.52 | |
Weighted-Average Grant Date Fair Value, Unvested | $ 30.52 | |
Time Vesting Restricted Stock Units [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Number of Awards, Effect of Reorganization and IPO | 2,084,209 | |
Number of Awards, Granted | 1,411,704 | |
Number of Awards, Vested | (416,268) | |
Number of Awards, Forfeited | (275,702) | |
Number of Awards, Unvested | 2,803,943 | |
Weighted-Average Grant Date Fair Value, Effect of reorganization and IPO | $ 43 | |
Weighted-Average Grant Date Fair Value, Granted | $ 47.91 | |
Weighted-Average Grant Date Fair Value, Vested | 42.99 | |
Weighted-Average Grant Date Fair Value, Forfeited | 44.16 | |
Weighted-Average Grant Date Fair Value, Unvested | $ 45.36 |
Stock-based Compensation - Su_9
Stock-based Compensation - Summary of Aggregate Intrinsic Value and Weighted Average Remaining Contractual Terms (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Maximum | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Weighted-Average Remaining Contractual Term, Outstanding | 10 years |
Time-Vesting Stock Options | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Options outstanding | $ 0 |
Options exercisable | $ 0 |
Weighted-Average Remaining Contractual Term, Outstanding | 9 years 1 month 6 days |
Weighted-Average Remaining Contractual Term, Exercisable | 9 years 1 month 6 days |
Exit-Vesting Stock Options | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Options outstanding | $ 0 |
Weighted-Average Remaining Contractual Term, Outstanding | 9 years 1 month 6 days |
Benefit Plans - Additional Info
Benefit Plans - Additional Information (Details) - Buzz Holdings L.P. - USD ($) | 1 Months Ended | 11 Months Ended | 12 Months Ended | ||
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | Jun. 01, 2018 | |
Defined Contribution Plan Disclosure [Line Items] | |||||
Expense related to Long Term Incentive Plan | $ 1,400,000 | $ (100,000) | $ (100,000) | $ 3,200,000 | |
Accrued expenses related to Long Term Incentive Plan. | 1,100,000 | 0 | |||
Contributions by employer under Defined Contribution Plan | $ 200,000 | $ 2,200,000 | $ 3,800,000 | $ 1,700,000 | |
Maximum | |||||
Defined Contribution Plan Disclosure [Line Items] | |||||
LTIP performance measurement period | 4 years | ||||
Minimum | |||||
Defined Contribution Plan Disclosure [Line Items] | |||||
LTIP performance measurement period | 3 years |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | ||||
Dividends paid | $ 0 | $ 360,000 | $ 0 | $ 23,359 |
Director [Member] | ||||
Related Party Transaction [Line Items] | ||||
Description of transaction | Dividends paid | |||
Director of the Predecessor Company [Member] | ||||
Related Party Transaction [Line Items] | ||||
Description of transaction | Limited Partners’ interest | |||
Dividends paid | 0 | 0 | $ 0 | 2,736 |
Company Owned by Director [Member] | ||||
Related Party Transaction [Line Items] | ||||
Description of transaction | Other income (expense), net | |||
Dividends paid | 0 | 51,326 | 4,919 | |
Loans repaid | 0 | 25,626 | $ 95,465 | |
Parent Company of the Predecessor [Member] | ||||
Related Party Transaction [Line Items] | ||||
Description of transaction | Dividends paid | |||
Dividends paid | 0 | $ 0 | 9,864 | |
Parent Company [Member] | ||||
Related Party Transaction [Line Items] | ||||
Description of transaction | Dividends paid | |||
Dividends paid | 292,530 | |||
Other | ||||
Related Party Transaction [Line Items] | ||||
Payable to related parties pursuant to a tax receivable agreement | 388,780 | |||
Cost recharges | 0 | 2,514 | 0 | 0 |
Marketing costs | 0 | 0 | 3,661 | 0 |
Tax receivable agreement liability remeasument benefit | $ 0 | $ 1,112 | ||
Other | General And Administrative Expense [Member] | ||||
Related Party Transaction [Line Items] | ||||
Description of transaction | General and administrative expense | |||
Other | Selling And Marketing Expense [Member] | ||||
Related Party Transaction [Line Items] | ||||
Description of transaction | Selling and marketing expense |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 16, 2021 | Jan. 14, 2021 | Jan. 28, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 29, 2020 |
Related Party Transaction [Line Items] | |||||||||
Underwriting discounts and commissions per share paid | $ 1.935 | ||||||||
Value of shares redeemed during period | $ 1,018,365 | ||||||||
Selling and marketing expense | $ 11,157 | $ 152,588 | 211,711 | $ 142,902 | |||||
Common Class A | |||||||||
Related Party Transaction [Line Items] | |||||||||
Common stock shares underwrite value | $ 4,100 | ||||||||
IPO [Member] | Common Class A | |||||||||
Related Party Transaction [Line Items] | |||||||||
Common stock offered to market in IPO | 57,500,000 | 57,500,000 | |||||||
Value of shares redeemed during period | $ 1,991,600 | $ 1,991,600 | |||||||
Stock issued for purchase or redemption of shares | 48,500,000 | 48,500,000 | 48,500,000 | ||||||
Founder | |||||||||
Related Party Transaction [Line Items] | |||||||||
Loan recognized | $ 119,000 | ||||||||
Loans repaid | $ 25,600 | ||||||||
Outstanding balance of founder loan | $ 93,400 | $ 93,400 | |||||||
Outstanding balance of loan plus accrued interest settled | $ 95,500 | ||||||||
Beehive Holdings III, LP | Class A Units [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Redemption of common units held | 63,643,425 | ||||||||
Hypothetical fair value of common units redeemed | $ 95,500 | ||||||||
Exchangeable common units | 3,252,056 | ||||||||
Liftoff Mobile Inc. | |||||||||
Related Party Transaction [Line Items] | |||||||||
Selling and marketing expense | $ 3,700 |
Segment and Geographic Inform_3
Segment and Geographic Information - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2021Segment | |
Segment Reporting Information [Line Items] | |
Number of operating segments | 1 |
United Kingdom | |
Segment Reporting Information [Line Items] | |
Number of operating segments | 1 |
Segment and Geographic Inform_4
Segment and Geographic Information - Summary of Revenue by Geographic Area (Details) - USD ($) $ in Thousands | 1 Months Ended | 11 Months Ended | 12 Months Ended | |
Jan. 28, 2020 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 39,990 | $ 542,192 | $ 765,660 | $ 488,940 |
North America | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 21,014 | 301,878 | 442,146 | 257,716 |
Rest of the World | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 18,976 | $ 240,314 | $ 323,514 | $ 231,224 |
Segment and Geographic Inform_5
Segment and Geographic Information - Summary of Property and Equipment by Geographic Area (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $ 14,627 | $ 16,833 |
United Kingdom | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 6,035 | 5,202 |
Czech Republic | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 3,234 | 5,067 |
United States | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 3,183 | 4,542 |
Rest of the World | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $ 2,175 | $ 2,022 |
Commitments and Contigencies -
Commitments and Contigencies - Additional Information (Details) - USD ($) | Aug. 26, 2020 | Dec. 31, 2021 | Dec. 31, 2020 |
Loss Contingencies [Line Items] | |||
Liabilities | $ 1,301,540,000 | $ 1,552,487,000 | |
Lawsuit filing date | May 29, 2018 | ||
Provisions assessed | $ 8,800,000 | 55,100,000 | |
Litigation settlement, expense | $ 9,300,000 | ||
Cash paid to settle litigation matters | $ 44,100,000 | ||
California | |||
Loss Contingencies [Line Items] | |||
Lawsuit filing date | November 13, 2018, | ||
Indemnification Agreements | |||
Loss Contingencies [Line Items] | |||
Liabilities | $ 0 | $ 0 | |
Indemnification Agreements | Minimum | |||
Loss Contingencies [Line Items] | |||
Estimates the possible loss | 1,000,000 | ||
Indemnification Agreements | Maximum | |||
Loss Contingencies [Line Items] | |||
Estimates the possible loss | $ 4,000,000 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) - USD ($) $ in Millions | Jan. 31, 2022 | Dec. 31, 2021 |
Russia | ||
Subsequent Event [Line Items] | ||
Net assets of subsidiary in Russia of total assets | 0.10% | |
Russia, Belarus and Ukraine combined [Member] | ||
Subsequent Event [Line Items] | ||
Combined revenue from Russia, Ukraine, and Belarus of total revenue | 2.80% | |
Maximum | Russia | ||
Subsequent Event [Line Items] | ||
Foreign Operating Cost | 1.70% | |
Purchase Agreement | Flashgap | ||
Subsequent Event [Line Items] | ||
Payment for purchase of outstanding shares | $ 70 | |
Subsequent Events | Purchase Agreement | Flashgap | Maximum | ||
Subsequent Event [Line Items] | ||
Future additional performance based payment for outstanding shares | 10 | |
Subsequent Events | Purchase Agreement | Flashgap | Held in Escrow | ||
Subsequent Event [Line Items] | ||
Payment for purchase of outstanding shares | $ 5 | |
Escrow payment duration | 23 months |