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Overview

• Blackstone has significant incentive to sell as their funds cycle is coming to an end and they pledged Bumble shares as sole collateral for a margin loan that they re-distributed to investors.
• As of March 17, 2026 they control 23% of shares, 19.8% of voting rights and have an outstanding margin loan of $55 m (Google Sheets)
• They have been selling of their position continuously and converted all of its Common Units to Class A Common stock last year.
• It cannot be ruled out that Blackstone will roll their shares over into an existing funds and keep their position. </aside>

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Assessment MM

• Blackstone had continuously extracted capital out of Bumble since they invested. I believe that them exiting the position would be a long term positive for Bumble.

• I don’t fear selling pressure as this is if anything a short-term headwind & Bumble is a long-term investment. Blackstone will certainly try to sell at best possible prices and as of their latest filing the margin loan compared to the shares held looks very manageable. </aside>

• Related Research on Bumble’s Ownership Structure

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