• 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 siblings developed the successful relationship software, Coffee Meets Bagel.

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

    “We got therefore emails that are many ‘You sisters are incredibly crazy! What exactly are you thinking?’” Dawoon Kang told “Nightline.” “Seeing all of the responses 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.”

    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.

    Nonetheless it might easily turn into a brave, 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, which includes 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 those sick and tired of over-sexualized times the siblings state are on other online dating services. Alternatively 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’s got utilized tinder has one or numerous tales regarding the forms of behavior guys display on Tinder … it is maybe maybe not the best experience and … it seems creepy.”

    Coffee matches Bagel is free plus the software provides one match, or a “Bagel,” by noon each according to its website day. Users have actually twenty four hours to choose either to “Like” or “Pass” on the Bagel, if two different people “Like” one another, then your application will open an exclusive talk to allow them to set up a romantic date, which just can last for 7 days. Bagels are determined through some type of computer algorithm that combs through users’ Twitter friends 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 software market, rising against apps like Tinder, Hinge, Bumble and also the League, that are all vying with regards to their bit of the approximated $2 billion internet dating industry.

    But unlike Tinder, where 58 % of its users are male relating to 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 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 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 eharmony cost little city in Ohio, tried Coffee satisfies Bagel because she wished to weed out of the weirdos.

    “once I first relocated right right here we met a few 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 first “Bagel” ended up being Zach, a 26-year-old company designer for the next start-up, as well as in conversing with each other, they both found he football, and her cross country out they had athletics in common.

    “We have plenty in typical,” Miller said. “ He has a personality that is great. I like him to date. It’s the start.”

    Whether this Bagel will grow to be “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 house workplace in new york, they will have a wall surface of popularity focused on a few of their early users who wound up marrying their matches. In reality, the siblings state they’re now producing 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 a single day we knew we made the decision that is right” Dawoon Kang stated.

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