Coffee Meets Bagel
American dating app company focused on meaningful connections through curated daily matches.
Company Type
public
Founded
2012
Headquarters
San Francisco, California, USA
About Coffee Meets Bagel
Coffee Meets Bagel is a dating and social networking service that differentiates itself from competitors by limiting the number of profiles users can interact with each day. The platform provides curated daily matches, called "Bagels," encouraging users to focus on quality connections rather than volume-based swiping. The app also offers ice-breaker information for matches to facilitate more meaningful first conversations.
The company targets users seeking serious relationships rather than casual encounters. Coffee Meets Bagel's algorithm considers user preferences, mutual friends, and behavioral patterns to deliver personalized match suggestions. The platform generates revenue through premium subscription plans and in-app purchases, with estimated annual revenue of approximately $36 million.
History of Coffee Meets Bagel
Arum Kang first conceived the idea for Coffee Meets Bagel in 2011 while studying at Harvard Business School. She partnered with her sisters Dawoon and Soo, and the trio launched the app in New York City on April 17, 2012. The platform expanded to Boston on May 10, 2012, and to San Francisco on October 24, 2012.
In September 2012, the company announced seed funding of $600,000 led by Lightbank, with Match.com co-founder Peng T. Ong also investing. The app gained national attention in January 2015 when the Kang sisters appeared on Shark Tank seeking a $500,000 investment in exchange for 5% equity. They famously turned down Mark Cuban's hypothetical $30 million offer to buy the entire company, the largest offer in Shark Tank history at that time.
In February 2015, Coffee Meets Bagel raised $7.8 million in a Series A financing round led by DCM Ventures. The company continued to grow its user base and in May 2018 raised $12 million in Series B funding led by Atami Capital. In 2020, the company added video virtual speed dating features in response to the COVID-19 pandemic. The app has facilitated over one billion introductions and claims responsibility for more than 100,000 happy couples worldwide.
Brands Owned by Coffee Meets Bagel
Coffee Meets Bagel owns 1 brand in our database.
Coffee Meets Bagel Ownership: Pros & Cons
Advantages
- +Founder-led company with clear vision for meaningful connections over casual dating
- +Independent ownership allows product decisions driven by user experience rather than shareholder returns
- +Strong brand recognition from Shark Tank appearance and media coverage
- +Focused single-product strategy enables deep investment in platform quality
- +Venture capital backing provides growth funding without public market pressures
Considerations
- -Smaller scale compared to publicly traded competitors like Match Group
- -Limited financial transparency as a private company
- -Intense competition from well-funded dating platforms including Tinder, Hinge, and Bumble
- -Revenue dependent on a single product in a highly competitive market
- -User growth challenges in markets dominated by established dating apps
Frequently Asked Questions About Coffee Meets Bagel
Is Coffee Meets Bagel publicly traded?
Coffee Meets Bagel is not publicly traded. The company is privately held by its founders and venture capital investors. There are no shares available for purchase on any stock exchange.
Who founded Coffee Meets Bagel?
Coffee Meets Bagel was founded in 2012 by three sisters: Arum Kang, Dawoon Kang, and Soo Kang. The sisters, originally from Seoul, South Korea, created the platform to offer a dating experience focused on quality matches and meaningful connections.
Did Coffee Meets Bagel appear on Shark Tank?
Yes, Coffee Meets Bagel appeared on Shark Tank in January 2015. The Kang sisters sought a $500,000 investment for 5% equity but famously turned down Mark Cuban's $30 million offer to buy the entire company, the largest offer in the show's history at that time.
How does Coffee Meets Bagel make money?
Coffee Meets Bagel generates revenue through premium subscription plans and in-app purchases. Users can subscribe to CMB Premium for enhanced features or purchase "Beans," a virtual currency used to access additional platform functionality. The company's estimated annual revenue is approximately $36 million.
What makes Coffee Meets Bagel different from other dating apps?
Coffee Meets Bagel limits the number of profiles users see each day, providing curated matches called "Bagels" rather than allowing unlimited swiping. The platform focuses on quality over quantity, targeting users who are seeking serious relationships rather than casual encounters.
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