Good points Aron.
Maybe just to add - while some use Bumble for short-term dating - Bumble, like Hinge, is positioning itself for intentional long-term dating.
This can be seen e.g. in the vision of Whitney Wolfe Herd (YT, min 47, Nov 2025) and in their latest marketing campaign.
Blackstone and it’s impact are good questions. I assume it’s not too positive as the company apparently was too short-term focused after their IPO and “lost it’s way” according to Wolfe Herd.
Blackstone currently is reducing it’s exposure to the business and have converted their common units.
Apart TRA and related cash-flows any line items that stood out to you?