Where Coffee Meets Bagel, the Dating App Startup That Turned Down $30M ‘Shark Tank’ Offer, Is Today

Where Coffee Meets Bagel, the Dating App Startup That Turned Down $30M ‘Shark Tank’ Offer, Is Today

The Kang siblings developed the successful relationship software, Coffee Meets Bagel.

В— — The Kang siblings, Soo, Dawoon and Arum, stunned everybody else once they said no to $30 million, walking far from Mark Cuban’s record-setting offer for his or her app that is dating on “Shark Tank” earlier in the day this present year.

“We got therefore numerous email messages, ‘You sisters are so crazy! What exactly are you thinking?’” Dawoon Kang told “Nightline.” “Seeing all of the commentary and reviews … i need to wonder, being called ‘greedy,’ ‘gold digger,’ would we now have been called those names when we are not females? I’d to wonder that.”

“If we had been males, we might oftimes be called ‘Bold! Visionary! Brave’ for rejecting. Needless to say we weren’t called that,” Arum Kang added, laughing.

However it would probably grow to be a courageous, bold and visionary move because Soo, 35, Dawoon and Arum, both 32, believe their dating application, Coffee Meets Bagel, may be worth much more, particularly given that Tinder is respected at $1.5 billion.

Coffee suits Bagel, that has raised $7.8 million in outside capital and contains a lot more than doubled its individual base since appearing on “Shark Tank” in January, areas itself as a substitute for people sick and tired with over-sexualized times the siblings state are on other online dating services. Alternatively it fixes up people up with matches that give attention to quality over quantity.

“We like to phone ourselves the anti-Tinder,” Arum stated. “Any girl who’s got used tinder has one or numerous tales associated with the forms of behavior guys display on Tinder … it is maybe perhaps not the best experience and … it seems creepy.”

Coffee satisfies Bagel is free together with application delivers one match, or a “Bagel,” by noon each according to its website day. Users have actually a day to choose either to “Like” or “Pass” on the Bagel, if two different people “Like” one another, then a software will start an exclusive talk in order for them to set a date up, which just can last for 7 days. Bagels are determined through some type of computer algorithm that combs through users’ Twitter buddies and “friends of friends,” assessing passions and individual experiences to match users with pages similar to theirs.

But Coffee Meets Bagels faces competition in a niche that is crowded software market, increasing against apps like Tinder, Hinge, Bumble therefore the League, that are all vying with their little bit of the calculated $2 billion online dating sites industry.

But unlike Tinder, where 58 % of the users are male based on their data, Coffee Meets Bagels boast a majority of female users. The Kang siblings state that is because their users are searching for love, not always intercourse.

Coffee matches Bagel, the Dating App that Turned Down ‘Shark Tank’ Offer

“Women constitute nearly 50 % of Tinder’s user base,” Tinder free dating canada stated in a declaration to ABC Information, and “there are an incredible number of ‘swiped right’ stories that reveal Tinder is producing significant and lasting connections around the whole world.”

Jamie Miller, whom simply relocated to San Francisco from a tiny city in Ohio, tried Coffee Meets Bagel because she desired to weed out of the weirdos.

“once I first relocated right right here we came across a few dudes but I felt like nobody took it seriously,” she said. “Just, ‘Hey nice to generally meet you… bye…’ and I want something a lot more than that.”

Her very very first “Bagel” ended up being Zach, a 26-year-old company developer for another start-up, plus in conversing with one another, they both found out they’d athletics in keeping, he soccer, and her x-country.

“We have a whole lot in typical,” Miller said. “ He has a great character. I enjoy him up to now. It’s the beginning.”

Whether this Bagel will grow to be “the one” or perhaps not, the Kang siblings are confident that Coffee Meets Bagel has the required steps to revolutionize the relationship game.

At their property workplace in new york, they usually have a wall surface of popularity focused on a number of their users that are early finished up marrying their matches. In reality, the siblings state these are generally now creating about 500 partners per week, with increased than 200 marriages and 20,000 relationships due to matches through their software.

“At the conclusion of your day we knew we made the right decision,” Dawoon Kang said.

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