New York — The next online dating company to go public probably won’t be cheap, but might need to reach some middle-ground with investors on its valuation, according to an analyst and a portfolio manager. An initial public offering (IPO) in Bumble could value the millennial-focused courtship app as low as $1.1bn, below the $1.5bn figure it was reportedly seeking in January, according to calculations by Synovus Trust senior portfolio manager Dan Morgan. Billionaire Andrey Andreev, majority holder of Bumble’s parent company, is talking to banks including JPMorgan Chase about a possible Nasdaq listing, he said in October. In the absence of any public filings to provide insight into the company’s financials, Morgan used the average price-sales multiples of three peer companies: Spark Networks, Meet Group and Match Group. Match operates a portfolio of online dating companies such as OkCupid, PlentyOfFish, Match.com and Tinder — perhaps the most similar to Bumble. Both are targeted toward...

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