As of November 2021, it had a share of approximately 5-6% of the UK energy market and was considered the seventh largest in the country.

In September 2021, the company sought a bailout due to financial problems caused by increasing natural gas prices.

In October 2022, Octopus Energy announced they planned to acquire Bulb's 1.5 million customers and 650 staff.

[5] From the start of trading, the directors were Amit Gudka, a former energy market trader for Barclays, and Hayden Wood, a former management consultant.

[5] Growth was rapid from the start of 2017, and by early March 2019, the company had over 1 million customers and was employing over 550 staff.

[12] In September 2021, Bulb sought a bailout due to financial problems caused by sharply increasing natural gas prices.

[17] According to the Financial Times, at least two energy suppliers offered solutions that would have allowed Bulb customers to be switched to alternative providers at a reduced cost to consumers and taxpayers.