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

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

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

В— — The Kang sisters, Soo, Dawoon and Arum, stunned everybody once they said no to $30 million, walking far from Mark Cuban’s record-setting offer due to their dating app on ABC’s “Shark Tank” early in the day this season.

“We got therefore emails that are many ‘You sisters are incredibly crazy! Exactly what are you thinking?’” Dawoon Kang told “Nightline.” “Seeing most 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 experienced to wonder that.”

We would probably be called ‘Bold“If we were men! Visionary! Brave’ for rejecting. Needless to say we weren’t called that,” Arum Kang added, laughing.

However it would probably turn into a courageous, bold and move that is visionary Soo, 35, Dawoon and Arum, both 32, believe their dating application, Coffee Meets Bagel, may be worth a great deal more, specially given that Tinder is respected at $1.5 billion.

Coffee suits Bagel, that has raised $7.8 million in outside money 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 of over-sexualized times the siblings state are on other services that are dating. Rather it fixes up people up with matches that concentrate on quality over volume.

“We like to phone ourselves the anti-Tinder,” Arum said. “Any girl who’s utilized tinder has one or numerous tales of this types of behavior guys display on Tinder … it is maybe not the greatest experience and … it feels creepy.”

Coffee satisfies Bagel is free and also the software provides 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” each other, then your software will start a personal talk in order for 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 application market, increasing against apps like Tinder, Hinge, Bumble while the League, that are all vying for his or her bit of the calculated $2 billion online dating sites industry.

But unlike Tinder, where 58 per cent of the users are male based on their data, Coffee Meets Bagels boast a lot of feminine users. The Kang siblings say that’s because their users are searching for love, certainly not intercourse.

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

“Females constitute nearly 50 % of Tinder’s user base,” Tinder stated in a statement to ABC Information, and “there are scores of ‘swiped right’ stories that demonstrate Tinder is producing significant and connections that are lasting the planet.”

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

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

Her very first “Bagel” was Zach, a 26-year-old company designer for another start-up, plus in conversing with 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 great character. I enjoy him up to now. It’s the beginning.”

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 workplace in new york, they will have a wall surface of popularity focused on a number of their users that are early wound up marrying their matches. In reality, the siblings state these are typically now producing about 500 couples per week, with increased than 200 marriages and 20,000 relationships because of matches through their application.

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

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