Magiclab

2019

Sale of MagicLab for $3 billion to Blackstone fund

In November, 2019 Andrey Andreyev together with Finam investment company sold the MagicLab holding integrating deytingovy services Badoo and Bumble. The buyer – Blackstone fund paid $3 billion Finam for an asset received 30-fold return from the investments into Badoo. At the time of the transaction at Badoo of 450 million users, from which 30 million in Russia.

Within the transaction with Blackstone Andreyev will leave the post, and Heard, to these being responsible only for Bumble, will head all Magiclab.

According to the American newspaper Wall Street Journal, Andreyev with Heard possessed 80% of stocks of MagicLab. The source among shareholders of MagicLab explained CNews that Andreyev's share made 75%. Thus, Andreyev will receive from the transaction with Blackstone $2.25 billion, Finam - $600 million.

At the same time Finam, according to a source of CNews, enclosed in Badoo 30 times smaller - $20 million. The president of Finam Vladislav Kochetkov on the page on social network Facebook said that sale of Badoo was the consolidated solution of shareholders of service. Besides, now Finam in a priority has financial technical-services.

Andreyev refuses to sell the company for $1 billion to owners of Tinder network

The owner of Tinder the American company Match Group wanted to purchase Magiclab for $1 billion, but Andreyev refused. After this Match Group began to have legal proceedings with Magiclab, accusing holding that Bumble illegally uses Tinder technologies.

Andreyev creates the holding integrating the dating services Badoo, Bumble, Chappy and Lumen

In 2019 Andrey Andreyev integrated the deytingovy projects in Magiclab holding, having become also his CEO. The holding, in addition to Badoo and Bumble, included the application for homosexuals Chappy and service for acquaintances of people 50 years of Lumen are more senior.

Magiclab revenue for 2018 made $500 million.