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

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

В— — The Kang siblings, Soo, Dawoon and Arum, stunned everyone else if they said no to $30 million, walking far from Mark Cuban’s record-setting offer due to their dating application on ABC’s “Shark Tank” earlier this season.

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

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

However it might easily grow to be a brave, bold and move that is visionary Soo, 35, Dawoon and Arum, both 32, believe their dating app, Coffee Meets Bagel, may be worth a great deal more, specially given that Tinder is respected at $1.5 billion.

Coffee matches Bagel, that has raised $7.8 million in outside financing and has now significantly 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 utilized tinder has one or numerous stories regarding the forms of behavior males display on Tinder … it is perhaps maybe not the maximum experience and … it seems creepy.”

Coffee matches Bagel is free and also the application 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” on the Bagel, and when 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 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 crowded niche dating app market, rising against apps like Tinder, Hinge, Bumble together with League, that are all vying with their bit of the approximated $2 billion online dating sites industry.

But unlike Tinder, where 58 % of its users are male based on their data, Coffee Meets Bagels boast a lot of feminine users. The Kang siblings state that is because their users are seeking love, certainly not intercourse.

Coffee satisfies 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 an incredible number of ‘swiped right’ stories that reveal Tinder is creating significant and connections that are lasting the whole world.”

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

“once I first relocated right right here we came across 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 a lot more than that.”

Her very very first “Bagel” ended up being Zach, a 26-year-old company designer for the next start-up, as well as in speaking 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 typical,” Miller said. “ He has got a personality that is great. I enjoy him up to now. 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 the required steps to revolutionize the relationship game.

At their house workplace in new york, they usually have a wall surface of popularity specialized in several of their users that are early wound up marrying their matches. In reality, the siblings state they’ve been now creating about 500 partners per with more than 200 marriages and 20,000 relationships as a result of matches through their app week.

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