Coffee Meets Bagel Net Worth, Income, Shark Tank

June 2024 · 4 minute read

Coffee Meet Bagel is a dating website with a net worth of $150 million based in San Francisco founded by three sisters Dawoon, Arum, and Soo Kang in 2012.

Achieving this milestone was not easy for them, Let’s read the post to learn about Coffee Meets Bagel’s net worth and their journey.

Page Contents

What is Coffee Meet Bagel?

Coffee Meet Bagel is a dating website based in San Francisco founded by three sisters Dawoon, Arum, and Soo Kang in 2012.

The sisters are infamous for rejecting a shark offer of $30 million for the whole company. Dawoon, Arum, and Soo Kang immigrated from Korea as teenagers to the USA.

They studied in the United States, Soo graduated from Harvard University, Dawoon went to the Parson School of Design, and Arum attended Stanford University. They study for top colleges to get the best education.

One day, they discussed the problem of meeting people through online dating.

Finally, they came up with more innovative ideas for dating apps and this is how they started their company which has now a net worth of $150 million.

The sisters moved to San Franciso to get all the technological resources needed to build the company.

The company raised funds from $600,000 from Lightbank and the co-founder of Match.com they finally launched their website in 2012.

Coffee Meet Bagel Net Worth

Coffee Meet Bagel has an estimated net worth of $150 million as of 2023. They have $16 million in annual revenue.

With their innovative technique, they manage to compete with many big dating platforms.

Net Worth Timeline
Coffee Meets Bagel Net Worth 2023$150 Million
Coffee Meets Bagel Net Worth 2022$70 Million
Coffee Meets Bagel Net Worth 2021$10 Million
Coffee Meets Bagel Net Worth 2020$4 Million
Coffee Meets Bagel Net Worth 2019$1 Million

About Coffee Meet Bagel

Every day at noon, men receive 21 bagels potential matches that they can choose to like or ignore.

At the same time, women are shown the men who are interested in them and can decide if they want to connect with them or not.

The app encourages women to make the first move by not allowing messaging until they decide it’s a good match.

Coffee Meets Bagel is mostly used by people between the ages of 30 to 49, with only 36% of its users being 29 or younger. Interestingly, it has slightly more users over the age of 50 compared to Hinge.

According to its website, Coffee Meets Bagel is a free dating app that provides one potential match “Bagel” to its users every day by noon.

Coffee Meet Bagel Shark tank

The sisters appeared in Shark Tank season 6 in 2015. On the shark tank, they look for $500,000 for %5 equity of their company.

This offers led to a tense discussion between shark but one shark was definitely interested in their business.

An offer of $30 million was made by billionaire Mark Cuban to buy the company, which is the largest ever cash offer on Shark Tank.

However, the sisters rejected that offer because they thought the money he offered was very low. The company had the potential to compete with Match.com.

After Shark Tank, they got offers from various investors. With five investments they have raised over $23.2 million in funding.

In the same year, they recovered gradually now their company’s net worth is $150 million and it is one of the top 15-20 dating apps in the USA.

The app is available on both Android and iOS.

Facts

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