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

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

В— — The Kang siblings, 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 application on ABC’s “Shark Tank” early in the day in 2010.

“We got therefore numerous email messages, ‘You sisters are incredibly crazy! Exactly what are you thinking?’” Dawoon Kang told “Nightline.” “Seeing all of the feedback and reviews … i need to wonder, being called ‘greedy,’ ‘gold digger,’ would we now have been called those names when we are not ladies? I’d to wonder that.”

We would probably be called japanese dating site ‘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 grow to be a courageous, bold and visionary move because Soo, 35, Dawoon and Arum, both 32, believe their dating application, Coffee Meets Bagel, may be worth a great deal more, particularly now that Tinder is respected at $1.5 billion.

Coffee Meets Bagel, which includes raised $7.8 million in outside money and it has significantly more than doubled its user base since appearing on “Shark Tank” in January, areas itself as a substitute for all those sick and tired of over-sexualized dates the siblings say are on other online dating services. Rather it fixes up individuals up with matches that give attention to quality over amount.

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

Coffee satisfies Bagel is free therefore the software provides one match, or even a “Bagel,” by noon each time, in accordance with its web site. Users have twenty four hours 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 7 days. 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 niche that is crowded software market, rising against apps like Tinder, Hinge, Bumble as well as the League, that are all vying with regards to their little bit of the projected $2 billion internet dating industry.

But unlike Tinder, where 58 per cent of their users are male relating to their data, Coffee Meets Bagels boast a lot of feminine users. The Kang sisters 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 scores of ‘swiped right’ stories that reveal Tinder is creating significant and lasting connections around the whole world.”

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

“once I first relocated right right 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” 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 found he football, and her cross country out they had athletics in common.

“We have actually a whole lot in common,” 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 what must be done to revolutionize the dating game.

At their house workplace in nyc, they will have a wall of popularity focused on a number of their users that are early wound up marrying their matches. In reality, the sisters state they have been 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 the time we knew we made the right decision,” Dawoon Kang stated.