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 else if they said no to $30 million, walking far from Mark CubanвЂ™s record-setting offer for his or her app that is dating on вЂњShark TankвЂќ early in the day in 2010.
вЂњWe got therefore emails that are many вЂYou sisters are incredibly crazy! What exactly are you thinking?вЂ™вЂќ Dawoon Kang told вЂњNightline.вЂќ вЂњSeeing all of the reviews and reviews вЂ¦ i must wonder, being called вЂgreedy,вЂ™ вЂgold digger,вЂ™ would we now have been called those names when we are not ladies? I’d to wonder that.вЂќ
вЂњIf we had been guys, we might oftimes be called вЂBold! Visionary! BraveвЂ™ for rejecting. Needless to say we werenвЂ™t called that,вЂќ Arum Kang added, laughing.
Nonetheless it might easily turn into a courageous, bold and move that is visionary Soo, 35, Dawoon and Arum, both 32, believe their dating software, Coffee Meets Bagel, is really worth much more, specially given that Tinder is respected at $1.5 billion.
Coffee suits Bagel, that has raised $7.8 million in outside money and contains significantly more than doubled its individual base since appearing on “Shark Tank” in January, areas itself as a substitute for many sick and tired of over-sexualized times the siblings state are on other services that are dating. Alternatively it fixes up individuals up with matches that give attention to quality over amount.
вЂњWe like to phone ourselves the anti-Tinder,вЂќ Arum stated. вЂњAny girl who has got utilized tinder has one or numerous tales for the types of behavior males display on Tinder вЂ¦ it is perhaps not the best experience and вЂ¦ it seems creepy.вЂќ
Coffee matches Bagel is free and also the application provides one match, or a вЂњBagel,вЂќ by noon each time, based on its internet site. Users have actually a day to choose either to вЂњLikeвЂќ or вЂњPassвЂќ on the Bagel, and when a couple вЂњLikeвЂќ one another, then your software will start a personal talk in order for them to set a date up, which just can last for a week. Bagels are determined through some type of computer algorithm that combs through usersвЂ™ Twitter buddies and вЂњfriends of friends,вЂќ 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 as well as 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 state thatвЂ™s because their users are seeking love, not always intercourse.
“Females constitute nearly 1 / 2 of Tinder’s individual base,” Tinder stated in a declaration to ABC Information, and “there are an incredible number of ‘swiped right’ stories that demonstrate Tinder is producing significant and connections that are lasting the planet.”
Jamie Miller, who simply relocated to san francisco bay area from a tiny city in Ohio, tried Coffee satisfies Bagel because she wished to weed out of the weirdos.
вЂњonce I first relocated right here we came across a handful of dudes but I felt like no one took it seriously,вЂќ she said. вЂњJust, вЂHey nice to fulfill youвЂ¦ byeвЂ¦вЂ™ and I want something significantly more than that.вЂќ
Her very first вЂњBagelвЂќ had been Zach, a 26-year-old company designer for the next start-up, as well as in conversing with one another, they both discovered out they’d athletics in accordance, he soccer, and her x-country.
вЂњWe have actually a great deal in typical,вЂќ Miller said. вЂњHe has got a personality that is great. I like him up to now. ItвЂ™s the start.вЂќ
Whether this Bagel will grow to be вЂњthe oneвЂќ or perhaps not, the Kang siblings are certain that Coffee Meets Bagel has what must be done to revolutionize the relationship game.
At their property workplace in new york, they’ve a wall of popularity specialized in a number of their very early users whom finished up marrying their matches. In reality, the siblings state these are generally now producing about 500 partners per week, with an increase of than 200 marriages and 20,000 relationships due to facebook dating matches through their software.
вЂњAt the termination of a single day we knew we made the decision that is rightвЂќ Dawoon Kang stated.