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Coffee Meets Bagel Net Worth 2024; Owner, Income & Revenue

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Coffee Meets Bagel Net Worth

Who is Coffee Meets Bagel?

Coffee Meets Bagel is a dating app that was founded by three sisters, Dawoon, Arum, and Soo Kang, in 2012.The app differentiates itself from other dating platforms by focusing on a woman-centric approach and offering a unique user experience.  In 2024, Coffee Meets Bagel’s net worth is $150 Million.

Real Name:       Coffee Meets Bagel
Founded: April 17, 2012
Founders:
  1. Arum Kang
  2. Dawoon Kang
  3. Soo Kang
Industry Type: Online Dating
Coffee Meets Bagel Net Worth 2024: $150 Million

History:

Three sisters, Arum Kang, Dawoon Kang, and Soo Kang, created the company Coffee Meets Bagel. In 2011, intially Arum have the idea of the app. Then on April 17, 2012, three sisters launched the app together in New York City.

On May 10, 2012, they launched in Boston on May 10, 2012, and in San Francisco on October 24, 2012. The company Coffee Meets Bagel announced that it had raised seed funding of $600,000 led by Lightbank, with Match.com co-founder Peng T. Ong also investing.

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The company Coffee Meets Bagel was featured on Shark Tank, where the sisters sought a $500,000 investment in exchange for 5% of the company in January 2015.

The dating app finds possible candidates and matches each other users’ qualities based on their Facebook profiles. The co-founder Of Match.com also had invested some of his wealth in this online dating platform.

Unique Approach to Matchmaking:

Coffee Meets Bagel aims to provide a more curated experience compared to other dating apps. Instead of offering an endless stream of potential matches, it provides a limited number of curated matches (known as “Bagels”) to users each day. This approach is designed to reduce the overwhelm of endless swiping and increase the quality of matches.

Target Audience:

The app primarily targets women and is designed to give them more control over their dating experience. Coffee Meets Bagel’s algorithm curates potential matches based on user preferences and interactions within the app.

Shark Tank Appearance:

The company gained widespread attention after the founders appeared on the TV show “Shark Tank” in 2015. They were offered $30 million by Mark Cuban for the entire company, which was the largest offer in the show’s history at that time. The sisters declined the offer, believing in the greater potential of their business.

Funding and Growth:

After their appearance on Shark Tank, the company went on to raise $23.2 million in funding across several rounds. This funding was used to expand their team and further develop the app.

Revenue Model:

Coffee Meets Bagel generates revenue through in-app purchases, advertisements, and subscription fees. The app offers premium features that users can purchase to enhance their experience.

Expansion and User Base:

Since its inception, Coffee Meets Bagel has expanded significantly. It’s available in all 50 U.S. states and has an international presence. As of recent reports, the app has around 10 million users and has facilitated a large number of successful relationships and marriages.

Company Valuation:

Coffee Meets Bagel is valued at around $150 million. This valuation reflects the app’s success and popularity in the competitive online dating market.

Coffee Meets Bagel Net Worth & Revenue

In 2024, Coffee Meets Bagel’s net worth is $150 Million. Coffee Mets Beagle is competing with other dating applications like Tender. The company has increased since the three sisters launched it. By 2022, the social media dating app Coffee Meets Bagel has reached a total value of $150 million.

The app is funded by 10 investors, including GingerBread Capital and Quest Venture Partners. Coffee Meets Bagel has 4 current employee profiles and also has 10 board members and advisors, including Taehoon Kim.

Arum Kang and Dawoon Kang, the current CEO of Coffee Meets Bagel. Soo Kang is Co-Founder / Creative and Damian Wolfgram is the Senior Product Manager – Revenue of Coffee Meets Bagel.

Frequently Asked Questions

  • Is Coffee Meets Bagel a dating site?

Coffee Meets Bagel is a popular dating app that offers users a free account but offers premium features such as an ad-free experience and the ability to see more matches. However, some users have accused Coffee Meets Bagel of being traps set by the app in order to lure people into upgrading to premium.

  • Is Coffee Meets Bagel still a thing?

Coffee Meets Bagel is often cited as one of the top 20 dating apps available in app stores. The app was created in 2012 and has since grown to over 3 million users. It’s an app that enables users to connect with others based on their shared interests, which include coffee and bagels. In addition to its popularity, Coffee Meets Bagel has also been lauded for its unique approach to dating.

  • Did Coffee Meets Bagel succeed?

After the Coffee Meets Bagel episode of Shark Tank, the Kang sisters, who founded a company that sells coffee and bagels, raised $23.2 million from four venture capitalists. The company is now valued at $150 Million. The Coffee Meets Bagel app, which is still available on both Android and Apple devices, reportedly has 10 million monthly active users.

  • What Shark Tank episode is Coffee Meets Bagel?

In a recent episode of Shark Tank, entrepreneur and investor Mark Cuban made the biggest offer in the show’s history – $30 million for Coffee Meets Bagel. Cuban’s investment would give the company a valuation of over $300 million. The company has already received investments from Fidelity Investments, Bessemer Venture Partners, and Battery Ventures.

Will Jack is an accomplished writer who loves to tell stories and loves to do research. Jack has ten years of experience content writing, so he adds a wealth of knowledge to the process of creating reader-resonant bios. Together with Jack and networthgorilla.com, learn the craft of writing biographies. Come celebrate with us the diversity and depth of the human experience via the storytelling medium.

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Disclosure

The net worth figures and related information presented here are derived from a variety of public sources. These figures should not be regarded as definitive or fully accurate, as financial positions and valuations are subject to change over time.