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 sisters developed the successful relationship software, Coffee Meets Bagel.

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

“We got therefore numerous e-mails, ‘You sisters are incredibly crazy! Exactly what are you thinking?’” Dawoon Kang told “Nightline.” “Seeing all of the reviews and reviews if we were not women… I have to wonder, being called ‘greedy,’ ‘gold digger,’ would we have been called those names? I’d to wonder that.”

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

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

Coffee matches Bagel, that has raised $7.8 million in outside financing and contains 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 services that are dating. Rather it fixes up individuals up with matches that concentrate on quality over volume.

“We like to phone ourselves the anti-Tinder,” Arum stated. “Any woman who may have used tinder has one or numerous tales regarding the types of behavior males display on Tinder … it is maybe not the best experience and … it seems creepy.”

Coffee matches Bagel is free together with software provides one match, or even a “Bagel,” by noon each time, based on its internet site. Users have actually a day to choose either to “Like” or “Pass” to their Bagel, and in case a couple “Like” one another, then your software will start a personal talk to allow 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 experiences that are personal match users with pages similar to theirs.

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

But unlike Tinder, where 58 % of the users are male in accordance with their data, Coffee Meets Bagels boast a lot of feminine users. The Kang siblings state that’s because their users are searching for love, definitely not intercourse.

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

“Females constitute nearly 50 % of Tinder’s individual base,” Tinder stated in a declaration to ABC Information, and “there are scores of ‘swiped right’ stories that show Tinder is producing meaningful and connections that are lasting the entire world.”

Jamie Miller, whom simply relocated to san francisco bay area from a tiny city in Ohio, tried Coffee matches Bagel because she wished to weed the weirdos out.

“once I first relocated right here we came across a few dudes but I felt like no body took it seriously,” she said. “Just, ‘Hey nice to fulfill you… bye…’ and I also want something a lot more than that.”

Her first “Bagel” ended up being Zach, a 26-year-old company designer for the next start-up, as well as in conversing with one another, they both discovered out they’d athletics in accordance, he soccer, along with her x-country.

“We have actually a great deal in common,” Miller said. “ He has a personality that is great. I enjoy him to date. It’s the start.”

Whether this Bagel will turn into “the one” or perhaps not, the Kang siblings are certain that Coffee Meets Bagel has what must be done to revolutionize the relationship game.

At their house office in new york, they will have a wall of popularity focused on a few of their very early users whom finished up marrying their matches. In reality, the siblings state they truly are now generating about 500 partners per with more than 200 marriages and 20,000 relationships as a result of matches through their app week.

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

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