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Badoo's Andrey Andreev sells his stake in Bumble owner MagicLab to Blackstone, valuing the dating apps at $3B

Andrey Andreev, the founder of Badoo, the controversial London-based company that owns a series of dating apps and was the main backer and builder of Bumble, is selling his entire stake in MagicLab, the company that owned both Bumble and Badoo (and other dating apps), to Blackstone and will step away from the business. Whitney Wolfe Herd, Bumble's founder, becomes become the CEO of the whole company, retaining much of her stake in the business in the process. Blackstone will also be making an investment in the company as part of the deal.

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