Is Bumble eyeing an IPO? Signs point to yes
Bumble, the Austin-based dating app that has garnered more than 40 million registered users worldwide, appears to be taking steps towards an initial public offering. In an enlightening interview with CNBC, Bumble CEO Whitney Wolfe Herd noted that the company is profitable and continues to outpace expectations. With its core product secure, Bumble is seeking alternative means of generating revenue, and an IPO could help accelerate that growth, Wolfe Herd said. [512 Tech]
SolarWinds expected to raise $500M in IPO
IT management software developer SolarWinds has called Austin home since 1999. Now, the company has its sights set on the New York Stock Exchange, and has filed for an initial public offering worth as much as $500 million. Goldman Sachs, J.P. Morgan, Morgan Stanley, Credit Suisse, BofA Merrill Lynch, Barclays, Citigroup, Evercore ISI, Jeffries, Macquarie Capital, Nomura and RBC Capital Markets will all act as underwriters of the deal. This will not be SolarWinds’ first time appearing on the stock market, though — SolarWinds was previously listed until taken private in 2015. [Texas Tech Pulse]
BuildASign to be acquired by European company for $280 million
BuildASign, Austin-based designers of wall decor, signage and more, announced earlier this week that it has been acquired by Dutch firm Cimpress for $280 million. Cimpress, based in Venlo, The Netherlands, is a printing industry veteran and the owner of Vistaprint. Final details of the acquisition, including company reorganization, will be announced on an October 31 earnings call. [Market Watch]
Austin unemployment rate rests near record lows
Looking for a new job in the Austin area? There may never be a more perfect time. The unemployment rate in Austin has been so low this summer, it is actually leading to an employment shortage. As reported by the Statesman, Austin’s unemployment rate is at just 3 percent and inching ever-closer to the all-time low of 2.2 percent. In an interview with the Statesman, UT lecturer Michael Sury said, “People can come to Austin and pretty readily find employment. It is a sign of a very robust economy.” [Statesman]
