The Blackstone Group completed the acquisition of a majority stake in MagicLab, which builds and operates leading dating and social networking apps, including Bumble and Badoo, for $3bn. “We’re excited to invest in MagicLab, which is a pioneer in the fast-growing online dating industry. They have a highly talented team and a strong set of platforms, including Bumble, which was built on a commitment to inclusion and female empowerment. This partnership is a perfect example of Blackstone’s ability to use its scale, long-term investment horizon, and a deep bench of operational resources to help entrepreneurs take advantage of transformational growth opportunities in order to create global industry leaders over time.” Jon Korngold, Blackstone Growth Head.