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 everybody if they said no to $30 million, walking far from Mark Cuban’s record-setting offer for his or her dating application on ABC’s “Shark Tank” early in the day this current year.

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

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

However it might easily grow to be 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 capital and has now significantly more than doubled its individual base since appearing on “Shark Tank” in January, areas itself as a substitute for all sick and tired of over-sexualized times the siblings state are on other services that are dating. Alternatively it fixes up individuals up with matches that give attention to quality over volume.

“We like to call ourselves the anti-Tinder,” Arum said. “Any girl that has utilized tinder has one or numerous tales associated with types of behavior guys display on Tinder … it is maybe maybe maybe not the best experience and … it seems creepy.”

Coffee matches Bagel is free plus the software provides one match, or www.hookupdate.net/eurodate-review/ even a “Bagel,” by noon each time, in accordance with its site. Users have actually a day to choose either to “Like” or “Pass” to their Bagel, and when a couple “Like” one another, then your application will start a personal talk in order for them to set up a romantic date, which only lasts for 7 days. Bagels are determined through a computer algorithm that combs through users’ Twitter friends and “friends of friends,” assessing passions and experiences that are personal match users with profiles similar to theirs.

But Coffee Meets Bagels faces competition in a niche that is crowded software market, increasing against apps like Tinder, Hinge, Bumble in addition to League, that are all vying with their bit of the calculated $2 billion internet dating industry.

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

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

“Females constitute nearly 1 / 2 of Tinder’s individual base,” Tinder stated in a declaration to ABC Information, and “there are an incredible number of ‘swiped right’ stories that demonstrate Tinder is producing significant and lasting connections around the entire world.”

Jamie Miller, whom simply relocated to bay area from a tiny city in Ohio, tried Coffee satisfies 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 significantly 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 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 a great character. I like him up to now. It’s the start.”

Whether this Bagel will become “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 will have a wall surface of popularity focused on a few of their users that are early wound up marrying their matches. In reality, the siblings state they truly are 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 the afternoon we knew we made the right decision,” Dawoon Kang stated.