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Bumble Seller Says Blackstone Made an Offer He ‘Couldn’t Refuse’

Feb.04 -- In November, Blackstone took a majority stake in MagicLab at a valuation of about $3 billion. Andrey Andreev, who founded the company in 2006, sold his stake and stepped away from the business as part of the deal. Now, with at least $1.5 billion in hand, he plans to devote some of the money from the all-cash transaction toward philanthropic pursuits. On "Bloomberg Money Undercover", Bloomberg's Lisa Abramowicz and Ben Stupples talk about the deal and the company’s popular dating apps, including Bumble.