The Kang siblings developed the successful relationship software, Coffee Meets Bagel.
Coffee matches Bagel, the Dating App that Turned Down ‘Shark Tank’ Offer
? — 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 with their app that is dating on “Shark Tank” earlier in the day this present year.
“We got therefore numerous email messages, ‘You sisters are incredibly crazy! What exactly are you thinking?’” Dawoon Kang told “Nightline.” “Seeing most of the responses 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. Needless to say we weren’t called that,” Arum Kang added, laughing.
However it might easily 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, specially given that Tinder is respected at $1.5 billion.
Coffee satisfies Bagel, that has raised $7.8 million in outside capital and contains significantly more than doubled its individual base since appearing on “Shark Tank” in January, areas itself as a substitute for anyone 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 give attention to quality over volume.
“We like to phone ourselves the anti-Tinder,” Arum stated. “Any woman that has utilized tinder has one or numerous tales of this types of behavior guys display on Tinder … it is perhaps maybe not the maximum experience and … it seems creepy.”
Coffee satisfies Bagel is free as well as the application provides one match, or a “Bagel,” by noon each time, relating to its site. 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 software will start an exclusive talk to allow them to set up a date, 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 experiences that are personal match users with pages similar to theirs.
But Coffee Meets Bagels faces competition in a crowded niche dating application market, rising against apps like Tinder, Hinge, Bumble in addition to League, that are all vying for his or her bit of the approximated $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 is because their users are searching for love, definitely not intercourse.
“Females constitute nearly 50 % of Tinder’s individual base,” Tinder stated in a declaration to ABC Information, and “there are scores of ‘swiped right’ stories that demonstrate Tinder is producing significant and connections that are lasting the whole world.”
Jamie Miller, whom simply relocated to bay area from a tiny city in Ohio, tried Coffee satisfies Bagel because she desired to weed out of the weirdos.
“once I first relocated right right here I met a small number of guys but I felt like nobody took it seriously,” she said. “Just, ‘Hey nice to generally meet you… bye…’ and I also want something a lot more than that.”
Her very first “Bagel” ended up being Zach, a 26-year-old company designer for another start-up, as well as in speaking with one another, they both discovered he football, and her cross country out they had athletics in common.
“We have actually plenty in typical,” Miller said. “ He has a great character. I like him to date. It’s the start.”
Whether this Bagel will turn into “the one” or perhaps not, the Kang sisters are confident that Coffee Meets Bagel has the required steps to revolutionize the relationship game.
At their property workplace in new york, they usually have a wall surface of popularity focused on several of their very early users whom wound up marrying their matches. In reality, the sisters state they’ve been now creating about 500 partners per week, with over 200 marriages and 20,000 relationships because of matches through their application.
“At the termination of the afternoon we knew we made the right decision,” Dawoon Kang stated.