Coffee Meets Bagel is an online dating service. The company was founded with a seed capital of $600k. Founder Dawoon Kang saw that busy young professionals had little time to meet someone, and the situation was even more precarious for women. The app was created to make dating more convenient and easy.
Mark Cuban offered $30 million for the whole company
Coffee Meets Bagel is a dating app that uses mutual friends to match people with compatible dates. The app is free to download on both Android and Apple devices and has about 10 million users. Earlier this year, Cuban offered $30 million to buy the company after hearing the company’s pitch.
The two sisters who started Coffee Meets Bagel decided to stay independent, despite Mark Cuban’s $30 million offer. The billionaire offered the company the biggest possible acquisition deal in Shark Tank history. Although the founders rebuffed the offer, the company’s sales increased significantly as a result.
Kang sisters turned down the offer
The Coffee Meets Bagel company is owned by Dawoon, Arum, and Soo Kang. They appeared on the TV show Shark Tank in season six, asking for $500,000 for a 5% stake. Mark Cuban offered to buy the entire company for $30 million, but the Kang sisters turned him down. However, they are still worth millions of dollars.
In June 2022, Coffee Meets Bagel’s net worth was estimated at $150 million. After its Shark Tank appearance, the startup had raised over $222 million in five investment rounds. However, the company turned down a second round of funding by Mark Cuban because it refused to disclose the number of users it had. In May 2014, the company raised $2.8 million from one investor.
App generates over $25 million per year
Coffee Meets Bagel is a dating app for women that generates over $25 million in annual revenue. The app was founded by two sisters who were inspired to create a dating app that would focus on women. They launched the app in early 2015 and were later featured on Shark Tank, where they turned down a $30 million venture capital offer from Mark Cuban. The app has a unique approach to dating that is unique from other dating apps. The app pairs users based on their interests and preferences. Users are rewarded with coffee beans to meet potential matches.
Coffee Meets Bagel is a dating app that focuses on a more mature approach to online dating. The app limits the amount of time users spend on the app each day to just five minutes, allowing them to focus on finding someone with whom they share interests. Its proprietary algorithm uses the information that users input to provide more personalized recommendations. The app is also very minimalistic, eliminating many competing design elements.
App’s founders are sisters
The sisters Arum and Dawoon Kang grew up in Korea and migrated to the U.S. as young adults. They worked for Amazon and Avon Products before creating their own coffee shop and online business, Coffee Meets Bagel. They are co-founders of Coffee Meets Bagel and lead its business strategy. They have been featured in media and given talks on the startup scene.
Coffee Meets Bagel’s founders were inspired to create the app while completing an MBA program at Harvard Business School. Today, the app is available worldwide and has helped more than one billion people find love. The app has also helped put over 100,000 couples in happy relationships.
App’s founders have already given up lucrative careers
The three sisters behind Coffee Meets Bagel are Korean immigrants who have come to the United States. All three emigrated to the United States at a young age and are now living in San Francisco. Despite their successful and lucrative careers, the trio has already given up their lucrative jobs to pursue their passion: making gourmet bagels. They have already arranged 250 marriages and started more than 25,000 partnerships. Their goal is to use their online dating platform to bring people together.
Coffee Meets Bagel has a loyal following, but many doubt it will be a long-term career move for them. The app is available for iOS and Android devices and has attracted millions of users. However, it is important to note that the app is not as popular as the sisters originally hoped. It is available in New York and across the U.S. but only has an average of 10 million users.