Coffee Meets Bagel Shark Tank Update
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Dawoon Kang, a founder of Coffee Meets Bagel, said she was glad she and her cofounders declined Mark Cuban's $30 million offer on 'Shark Tank' because they felt they were worth more. Early in the Coffee Meets Bagel appeared on Shark Tank in which Tank and garnered them a lot of free publicity for their service. Coffee Meets Bagel Update. Bagel dating site shark tank. Shark Tank: How’s Coffee Meets Bagel Doing Today?
Coffee And Bagel Net Worth
— -- The Kang sisters, Soo, Dawoon and Arum, stunned everyone when they said no to $30 million, walking away from Mark Cuban’s record-setting offer for their dating app on ABC’s “Shark Tank” earlier this year.
“We got so many emails, ‘You sisters are so crazy! What are you thinking?’” Dawoon Kang told “Nightline.” “Seeing all the comments and reviews … I have to wonder, being called ‘greedy,’ ‘gold digger,’ would we have been called those names if we were not women? I had to wonder that.”
“If we were men, we would probably be called ‘Bold! Visionary! Brave’ for rejecting. Of course we weren’t called that,” Arum Kang added, laughing.
But it may very well turn out to be a brave, bold and visionary move because Soo, 35, Dawoon and Arum, both 32, believe their dating app, Coffee Meets Bagel, is worth a whole lot more, especially now that Tinder is valued at $1.5 billion.
Coffee Meets Bagel, which has raised $7.8 million in external funding and has more than doubled its user base since appearing on 'Shark Tank' in January, markets itself as an alternative for those fed up with over-sexualized dates the sisters say are on other dating services. Instead it fixes up people up with matches that focus on quality over quantity.
“We like to call ourselves the anti-Tinder,” Arum said. “Any woman who has used tinder has one or many stories of the kinds of behavior men exhibit on Tinder … it’s not the greatest experience and … it feels creepy.”
Coffee Meets Bagel is free and the app delivers one match, or a “Bagel,” by noon each day, according to its website. Users have 24 hours to choose either to “Like” or “Pass” on their Bagel, and if two people “Like” each other, then the app will open a private chat for them to set up a date, which only lasts for seven days. Bagels are determined through a computer algorithm that combs through users’ Facebook friends and “friends of friends,” assessing interests and personal experiences to match users with profiles similar to theirs.
But Coffee Meets Bagels faces competition in a crowded niche dating app market, going up against apps like Tinder, Hinge, Bumble and The League, which are all vying for their piece of the estimated $2 billion online dating industry.
But unlike Tinder, where 58 percent of its users are male according to their statistics, Coffee Meets Bagels boast a majority of female users. The Kang sisters say that’s because their users are looking for love, not necessarily sex.
'Women make up nearly half of Tinder's user base,' Tinder said in a statement to ABC News, and 'there are millions of 'swiped right' stories that show Tinder is creating meaningful and lasting connections around the world.'
Jamie Miller, who just moved to San Francisco from a small town in Ohio, tried Coffee Meets Bagel because she wanted to weed out the weirdos.
“When I first moved here I met a handful of guys but I felt like no one took it seriously,” she said. “Just, ‘Hey nice to meet you… bye…’ and I want something more than that.”
Her first “Bagel” was Zach, a 26-year-old business developer for another start-up, and in talking to each other, they both found out they had athletics in common, he football, and her cross country.
“We have a lot in common,” Miller said. “He has a great personality. I really like him so far. It’s the beginning.”
Whether this Bagel will turn out to be “the one” or not, the Kang sisters are confident that Coffee Meets Bagel has what it takes to revolutionize the dating game.
At their home office in New York City, they have a wall of fame dedicated to some of their early users who ended up marrying their matches. In fact, the sisters say they are now generating about 500 couples per week, with more than 200 marriages and 20,000 relationships as a result of matches through their app.
“At the end of the day we knew we made the right decision,” Dawoon Kang said.
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Coffee Meets Bagel Update
What are you thinking? I had to wonder that. Instead it fixes up people up with matches that focus on quality over quantity. But unlike Tinder, where 58 percent of its users are male according to their statistics, Coffee Meets Bagels boast a majority of female users.
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Subscriber Account active since. When Dawoon, Arum, and Soo Kang walked onto the “Shark Tank” stage in , they were hoping to get an offer from Mark Cuban, who they considered the most tech-savvy of the five investors on the show. The Kang sisters were pitching Coffee Meets Bagel , a dating app that, at the time, connected users with friends of friends and gave matches just seven days to connect. The ensuing exchange made for one of the more dramatic episodes ever aired.
It was the largest offer in “Shark Tank” history. In , Match Group, the company that owns Match.
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But when an offer for loads of cash comes for it, it can be difficult to say no. While some entrepreneurs might be ready to let go, others choose to take the risk and hold on. Even when offered millions, sometimes billions, of dollars, these entrepreneurs chose to hold their ground.
App-based dating service Coffee Meets Bagel has raised roughly $7 million The trio famously pitched to Mark Cuban on “Shark Tank” in an.
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Coming from a family of entrepreneurs, Kang was working for JP Morgan when she wanted to start her own business. Together with her two sisters, they started Coffee Meets Bagel, the Millennial dating app that stresses slow dating compared to hook-up counterparts like Tinder and Bumble. What influenced your decision in changing career fields? My sisters and I always knew that we wanted to start a business together.
She turned down a $30 million acquisition offer from Mark Cuban for the online dating company that she founded with her two sisters. It was, at.
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