United Kingdom, Oct. 14 -- Dating app Bumble has been bought for $1.3 billion (£980 million) by investment firm Ithaca Holdings, in a deal its new owners described as "a bet on the future of humanity".

Ithaca directors Ravi Gupta and John Hegeman will become co-chief executives of the loss-making company, while founder Whitney Wolfe Herd will remain "actively involved" with the business she launched 12 years ago.

It is unclear what Wolfe Herd's role will be under the new ownership, although she said she would work closely with the buyers.

Gupta and Hegeman said they planned to use technology to "renew and accelerate businesses... in a world transformed by AI".

They said: "Technology should work in service of our deepest source of...