The team: John Hegeman radiates intelligence. He was an early engineer at Facebook who later led engineering teams across News Feed and Monetization. He is the only CRO in S&P 500 history to have also been one of the top 0.01% engineers. He is a unique mix of product thinker, engineer and economist that makes him world class at building multi-sided marketplaces.

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.