The Kang siblings developed the successful relationship software, Coffee Meets Bagel.
Coffee satisfies Bagel, the Dating App that Turned Down ‘Shark Tank’ Offer
? — The Kang sisters, Soo, Dawoon and Arum, stunned everybody when they said no to $30 million, walking away 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 emails that are many ‘You sisters are incredibly crazy! Exactly what are you thinking?’” Dawoon Kang told “Nightline.” “Seeing all of the commentary and reviews … I have to wonder, being called ‘greedy,’ ‘gold digger,’ would we now have been called those names when we are not females? 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.
But it may very well grow to be a brave, bold and move that is visionary Soo, 35, Dawoon and Arum, both 32, believe their dating software, Coffee Meets Bagel, will probably be worth a great deal more, particularly given that Tinder is respected at $1.5 billion.
Coffee matches Bagel, that has raised $7.8 million in outside financing and has now a lot more than doubled its individual base since appearing on “Shark Tank” in January, areas itself as a substitute for the people sick and tired with 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 stories associated with the forms of behavior guys display on Tinder … it is maybe not the maximum experience and … it seems creepy.”
Coffee satisfies 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, of course two different people “Like” one another, then your software will start a personal talk in order for them to set up a night out together, 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 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, rising against apps like Tinder, Hinge, Bumble therefore the League, that are all vying with their bit of the projected $2 billion online dating sites industry.
But unlike Tinder, where 58 % of its users are male based on their data, Coffee Meets Bagels boast a lot of feminine users. The Kang siblings say that is because their users are seeking love, not always 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 san francisco bay area from a tiny city in Ohio, tried Coffee satisfies Bagel because she wished to weed the weirdos out.
“When I first relocated right here we came across a small number of guys but I felt like no body took it seriously,” she said. “Just, ‘Hey nice to fulfill you… bye…’ and I also want something significantly more than that.”
Her first “Bagel” had been Zach, a 26-year-old company developer for the next start-up, plus in speaking with one another, they both discovered he football, and her cross country out they had athletics in common.
“We have actually a whole lot in typical,” 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 otherwise not, the Kang siblings are certain that Coffee Meets Bagel has the required steps to revolutionize the relationship game.
At their property workplace in new york, they’ve a wall surface of popularity specialized in several of their very early users whom wound up marrying their matches. In reality, the siblings state they truly are now producing about 500 couples per with more than 200 marriages and 20,000 relationships as a result of matches through their app week.
“At the conclusion of a single day we knew we made the decision that is right” Dawoon Kang stated.