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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 Today

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

В— — The Kang siblings, Soo, Dawoon and Arum, stunned everybody else 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 this present year.

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

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

Coffee matches Bagel, which includes 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 everyone 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 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 males exhibit on Tinder … it is maybe maybe perhaps not the best experience and … it seems creepy.”

Coffee satisfies Bagel is free additionally the software delivers one match, or a “Bagel,” by noon each day, in accordance with its site. Users have actually a day to choose either to “Like” or “Pass” on the Bagel, of course two different people “Like” one another, then your software will start a private talk in order for them to set up a romantic date, which only 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 application market, increasing against apps like Tinder, Hinge, Bumble plus the League, which are all vying with regards to their little bit of the predicted $2 billion online dating sites industry.

But unlike Tinder, where 58 per cent of its users are male relating to their data, Coffee Meets Bagels boast a majority of feminine users. The Kang siblings state that’s because their users are searching for love, not always intercourse.

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

“Females make up nearly 1 / 2 of Tinder’s individual base,” Tinder said 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 little city in Ohio, tried Coffee satisfies Bagel because she wished to weed out the weirdos.

“once I first moved right 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” had been Zach, a 26-year-old company designer for the next start-up, as well as in talking to 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 really like him to date. It’s the start.”

Whether this Bagel will grow to be “the one” or otherwise not, the Kang sisters are confident that Coffee Meets Bagel has what must be done 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 users that are early wound up marrying their matches. In reality, the siblings state they have 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 the time we knew we made the right decision,” Dawoon Kang stated.