Why join Ithaca:
@GuptaRK22 & @johnwhegeman are taking Bumble private, and we led the round behind it. It’s our largest single round investment by a lot.
John is the only CRO of a company with $200B in annual revenue I've met who is an engineer's engineer. He ran engineering across News Feed and Monetization before becoming Meta's CRO. I tried to recruit Ravi years ago and he had the best references I've ever gotten on a leader. My partner @mvernal introduced them to each other. He'd worked with both. We are full conviction in these people, to the point where we rethought our own business model in order to be able to back them, and it wasn’t a hard decision.
Consumer internet companies at scale are some of the most fun to be had, and a tiny crack team has never been better set up to run them. This team is fast, knows scale and business quality, and is extremely AI-pilled — with full ownership they can rebuild whole companies around it. This is just the beginning. I'm glad they're out being pirates at @Ithaca_Holdings, and jealous of the people who get to work with them.
Make America Date Again!
Quoted context
These are the quoted author’s words.
Today we announced an agreement to acquire Bumble.
Over the past six months, we’ve looked at hundreds of companies, asking which businesses would become more valuable as AI advances.
Bumble stood out.
As intelligence becomes more abundant, we believe connecting with the right person and forming meaningful relationships will become even more precious. And frontier technology can help more people find and build those relationships.
Our purpose at Ithaca is to apply frontier technology to things that matter. We acquire enduring businesses, transform them with technology, and hold for the long term. We focus on businesses not only for their financial potential but their ability to enrich lives.
Whitney and her team have built something extraordinary. Millions of relationships began on Bumble, and we’re honored to help take it into its next era. Together we intend to build the best company in the world for helping people find each other.
Let’s get to work.
GuptaRK22 ↗