Coffee Meets Bagel, located in San Francisco, is an online dating social networking service. Three entrepreneur sisters, Arum, Dawoon, and Soo Kang launched the online dating site. Coffee Meets Bagel Net Worth value of $150 million as of 2021.
| Name | Coffee Meets Bagel |
| Founders | Arum, Dawoon, Soo Kang |
| Founded | April 17, 2012 |
| Headquarter | San Francisco, California, U. S. |
| Industry Type | Online Dating |
| Net Worth | $150 million |
How It All Started?
Arum, Dawoon, and Soo Kang are the three sisters who came up with the idea for the popular social media dating app Coffee Meets Bagel. Initially, the two businesswomen planned to create a website that would encourage individuals to date and fall in love. They intended to create a dating website that would inspire those who had lost hope in love.
On April 17, 2012, in New York City, they finally debuted their online dating app. Based on their Facebook profiles, the dating app detects possible partners and matches users’ attributes. In September 2012, the startup was able to receive $600,000 in initial investment from Lightbank. Match.com’s co-founder had also put money into the site.
Coffee Meets Bagel Rise of the App
In January 2015, the three sisters debuted their dating app on the television show Shark Tank, which focuses on entrepreneurship. Their plan was effective enough to amaze Mark Cuban, a millionaire entrepreneur, who paid the three brilliant sisters a stunning $30 million. They turned down the Cuban’s offer, stating that the amount he offered was insufficient for their creative concept.
The app is also available on Google Play. The app’s usage methods are really straightforward. Users who are interested in using the app must first create an account on Facebook. After a specific amount of time, the Coffee Meets Bag staff will supply them with their possible matches. If their potential matches approve their request, users will be able to contact them. The amount of accounts with which users may engage each day is, however, limited by the app. The firm launched a video virtual speed dating service during the COVID-19 Pandemic in 2020.
The choice of the three sisters to turn down Cuban’s offer paid off handsomely. DCM Ventures, the company’s current investor, led the $7.8 million Series A fundraising round. Within three years, the firm has increased its worth by $12 million thanks to Series B fundraising led by Atami Capital, which was completed in May 2018.
In February 2019, the firm said that the attacker had acquired a partial list of user information, including names and email addresses. Between late 2017 and mid-2018, the data was reportedly hijacked. Around 6,174,513 user accounts are thought to have been harmed as a result of the data breach.
Coffee Meets Bagel Net Worth
Other dating apps, such as Tinder, are facing stiff competition from Coffee Meets Bagel. From the time the three sisters founded the firm, it has expanded at an exponential rate. Coffee Meets Bagel, a popular social media dating app, has amassed a net worth of $150 million as of 2021.
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