Coffee Meets Bagel is an online dating social network service, which is based in San Francisco. The online dating platform was introduced by the three entrepreneur sisters, Arum, Dawoon, and Soo Kang. As of 2022, Coffee Meets Bagel net worth is estimated to be around $150 million.
|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?
The three sisters, Arum, Dawoon, and Soo Kang are behind the idea of creating the successful social media dating app, Coffee Meets Bagel. The entrepreneur sisters initially had thought of developing a website that would inspire people to love and date. They actually planned to make a dating website that could motivate people who had lost their hope in relationships.
They eventually launched their online dating application on April 17, 2012, in New York City. The dating app finds potential candidates and matches each other users qualities based on their Facebook profile. The company was successful to raise seed funding of around $600 thousand, which was led by Lightbank in September 2012. The co-founder of Match.com also had invested some of his wealth in the platform.
Coffee Meets Bagel Net Worth & Rise of the App
The three sisters came up with their dating application in the entrepreneurial-themed reality show, Shark Tank in January 2015. In the show, their idea was successful to impress the billionaire entrepreneur, Mark Cuban, who offered the three genius sisters a whopping amount of $30 million. However, they rejected the Cuban’s offer claiming that the value he put in front of them was too small for their innovative idea.
They have also launched the app in Google Play Store. The procedures to use the app are really easy. The interested users just have to register online to the app through their Facebook profiles. After a certain time, they will be provided with their potential matches by the Coffee Meets Bag’s crew. The users would be able to contact their potential matches if only they accept their request back. However, the app has limited the number of profiles that the users can interact with each day. During the COVID-19 Pandemic in 2020, the company added a video virtual speed dating service.
The three sister’s decision to reject Cuban’s offer proved fruitful for them. The company was able to raise $7.8 million through Series A financing, which was led by the existing investor, DCM Ventures. Within three years, in May 2018, the company added $12 million to their value through Series B funding, which was led by the Atami Capital.
The company reported in February 2019 that a partial list of user details like their names and email addresses have been stolen by the attacker. The data was reported to have hacked between late 2017 to mid-2018. Due to the data leakage, around 6,174,513 user accounts were suspected to get affected.
Coffee Meets Bagel Net Worth
Coffee Meets Bagel is certainly giving tough competition to other dating applications like Tinder. The company has grown exponentially from the date that the three sisters had launched it. As of 2022, the social media dating app, Coffee Meets Bagel has successfully bagged a total net worth of $150 million.
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