India, Oct. 14 -- Ravi Gupta, co-founder and co-CEO of investment firm Ithaca Holdings, is set to lead dating app Bumble alongside John Hegeman after the firm agreed to acquire the company for $1.3 billion.

Gupta announced the deal in a post on X, saying Ithaca had spent the past six months evaluating hundreds of companies to identify businesses that could become more valuable as artificial intelligence advances. Bumble stood out because of its role in helping people build meaningful relationships, he said.

"As intelligence becomes more abundant, we believe connecting with the right person and forming meaningful relationships will become even more precious. And frontier technology can help more people find and build those relationships,...