Today 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

The Kang siblings developed the dating that is successful, Coffee Meets Bagel.

В— — The Kang siblings, Soo, Dawoon and Arum, stunned every person once they said no to $30 million, walking far from Mark Cuban’s record-setting offer because of their app that is dating on “Shark Tank” early in the day in 2010.

“We got therefore many e-mails, ‘You sisters are incredibly crazy! What exactly are you thinking?’” Dawoon Kang told “Nightline.” “Seeing most of the remarks and reviews … i must wonder, being called ‘greedy,’ ‘gold digger,’ would we now have been called those names whenever we were not ladies? 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.

Nonetheless it would probably turn into a courageous, bold and visionary move because Soo, 35, Dawoon and Arum, both 32, believe their dating software, Coffee Meets Bagel, is really worth much more, specially given that Tinder is respected at $1.5 billion.

Coffee matches Bagel, which includes raised $7.8 million in external financing and it has a lot more than doubled its individual base since appearing on « Shark Tank » in January, areas itself as a substitute for everyone sick and tired of over-sexualized times the siblings state are on other online dating services. Alternatively it fixes up individuals up with matches that give attention to quality over amount.

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

Coffee matches Bagel is free therefore the software provides one match, or a “Bagel,” by noon each according to its website day. Users have a day to choose either to “Like” or “Pass” to their Bagel, and when two different people “Like” one another, then your application will start a personal talk to allow them to set up a night out together, which only can last for a week. 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 application market, going up against apps like Tinder, Hinge, Bumble therefore the League, which are all vying with regards to their little bit of the projected $2 billion internet dating industry.

But unlike Tinder, where 58 per cent of their users are male relating to their statistics, Coffee Meets Bagels boast a lot of feminine users. The Kang siblings state that is because their users are seeking love, definitely not intercourse.

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

« Females make up nearly 50 % of Tinder’s individual base, » Tinder stated in a declaration to ABC Information, and « there are an incredible number of ‘swiped right’ stories that reveal Tinder is creating significant and lasting connections around the planet. »

Jamie Miller, whom simply moved to san francisco bay area from a little city in Ohio, tried Coffee suits Bagel because she desired to weed the weirdos out.

“once I first relocated here we met a small number of dudes but I felt like no body took it seriously,” she said. “Just, ‘Hey nice to generally meet you… bye…’ and I also want something significantly more than that.”

Her very very first “Bagel” had been Zach, a 26-year-old company designer for the next start-up, as well as in conversing with kik one another, they both discovered he football, and her cross country out they had athletics in common.

“We have actually a great deal in typical,” Miller said. “ He has got a personality that is great. I enjoy him to date. 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 specialized in a few of their very early users whom finished up marrying their matches. In reality, the siblings state they’ve been now creating about 500 couples per with more than 200 marriages and 20,000 relationships as a result of matches through their app week.

“At the termination of a single day we knew we made the decision that is right” Dawoon Kang stated.