Bumble (BMBL) priced further upsized and priced above the upwardly revised range to raise $2.2 billion at an $8.7 billion market cap. The company operates the Bumble and Badoo apps, the world’s second and fourth highest grossing dating apps, respectively. While COVID-19 hurt average revenue per paying user, the company generates strong EBITDA margins, and growth accelerated in the most recent quarter. Bumble finished up 76%.
Cloopen Group Holding (RAAS) priced above the range to raise $320 million at a $2.4 billion market cap, and soared 200% on its first day of trading. Unprofitable with decelerating growth in the 9mo20, the company is China’s largest multi-capability cloud-based communications solution provider by 2019 revenue. After its initial jump, Cloopen traded down to finish the week with a 96% return from IPO.