If you are looking for a dating app that focuses on quality over quantity, you might have heard of Coffee Meets Bagel. This app, founded by three sisters in 2012, aims to connect people who share mutual friends on Facebook and have similar interests and values. But how much is Coffee Meets Bagel worth, and what makes it different from other dating apps?
| Real Name: | Coffee Meets Bagel |
| Founded: | April 17, 2012 |
| Founders: | Arum Kang, Dawoon Kang, Soo Kang |
| Industry Type: | Online Dating |
| Coffee Meets Bagel Net Worth 2023: | $150 Million |
History
The history of “coffee meets bagel worth” is how a dating app founded by three sisters grew from a small startup to a multimillion dollar business. Here are some key points from the history:
- The Coffee Meets Bagel app was launched in 2012 by Arum, Dawoon, and Soo Kang to create a dating app that emphasizes quality over quantity and caters to women’s preferences.
- With the app, users are matched with potential partners, called “bagels,” based on their Facebook connections, preferences, and profile information. Users can either like or pass on their bagels within 24 hours.
- The app also offers features such as icebreakers, video chat, and virtual speed dating to help users connect and communicate with their matches.
- The app makes money from ads, in-app purchases, and subscription fees ranging from $14.99 to $34.99 monthly.
- In 2015, the sisters appeared on the TV show Shark Tank, where they pitched their app to a panel of investors and asked for $500,000 in exchange for 5% of their business. They turned down a $30 million offer from Mark Cuban, the largest offer ever made on the show, saying that they believed their app was worth more and wanted to keep control over their vision.
- After the show, the app gained popularity and raised more funding from various investors. As of 2023, the app has over 10 million users and is estimated to be worth around $150 million.
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Coffee Meets Bagel’s Net Worth
Various sources estimate Coffee Meets Bagel’s worth at $150 million by 2023. This is an impressive figure, considering the founders launched the app with seed funding of only $600,000. The app makes money from ads, in-app purchases, and subscription fees ranging from $14.99 to $34.99 monthly.
Coffee Meets Bagel’s Unique Features
One of the reasons why Coffee Meets Bagel is successful is because it has many features that make it different from other dating apps. Some of these features are:
- Suggested Matches: Every noon, users receive a list of potential matches, called “bagels,” based on their preferences and mutual friends. Users can either like or pass on these bagels within 24 hours. In a private chat room, users can start a conversation if they want each other.
- Discover Matches: Users can also browse more profiles that meet their criteria in the Discover section. However, they need to use beans, the app’s currency, to like these profiles. Beans can be purchased with real money or earned by performing tasks such as inviting friends or filling out surveys.
- Icebreakers: To help users break the ice and start a conversation, the app provides prompts and questions so that they can share in the conversation. These answers are visible to their matches and can spark a meaningful discussion.
- Video Chat: Users can also video chat with their matches within the app without sharing their phone numbers or other personal information. This feature allows users to verify their matches’ identities and build trust before meeting in person.
Coffee Meets Bagel’s Shark Tank Story
One of the most memorable moments in Coffee Meets Bagel’s history was when the founders appeared on Shark Tank in 2015. They pitched their app to a panel of investors, known as the Sharks, and asked for $500,000 in exchange for 5% of their business.
However, one of the Sharks, Mark Cuban, shocked them by offering $30 million for the entire business instead. No one had ever made such a large offer on the show before. The sisters declined the offer, saying they believed their app was worth more than that. They also said that they wanted to retain control over their vision and mission. Many viewers and critics criticized their decision, calling them greedy and foolish. However, after the show, the sisters stood by their choice and proved them wrong by growing their app even more.
Net Worth & Rise of the App for Coffee & Bagels
- Three sisters established the dating app Coffee Meets Bagel in 2012.
- The app aims to provide a quality and personalized dating experience for its users, who can browse through curated matches or discover more profiles based on their preferences.
- The app has grown from a small start-up to a multi-million dollar business, boasting over 10 million users and a net worth of $150 million.
- The app also has a remarkable story of rejecting a $30 million offer from Mark Cuban on Shark Tank, saying they believed their app was worth more and wanted to keep control over their vision.
- Coffee Meets Bagel is one of the most successful dating apps in the world, and it continues to innovate and expand its features and market.
Conclusion
The Coffee Meets Bagel app has grown from a humble start-up to a multi-million dollar business. The app offers a unique and personalized way of finding a compatible partner based on mutual friends, interests, and values. The app also has a remarkable story of turning down a massive offer on Shark Tank and sticking to its principles. If you are looking for a serious relationship, you might want to give Coffee Meets Bagel a try.
FAQ
Q: How do I sign up for Coffee Meets Bagel?
Join Coffee Meets Bagel using your Facebook account or phone number. You must provide basic information about yourself, such as your name, age, gender, location, ethnicity, religion, education, occupation, and height. You must also upload at least one photo of yourself and answer some icebreaker questions.
Q: How do I change my preferences on Coffee Meets Bagel?
You can change your preferences on Coffee Meets Bagel by tapping on your profile icon and then tapping on Settings. You can adjust your preferences for age range, distance range, gender preference, height preference, ethnicity preference, religion preference, and education preference.
How do I delete my account on Coffee Meets Bagel?
You can delete your account on Coffee Meets Bagel by tapping on your profile icon and then tapping on Settings. Then tap on Account and scroll down to find the Delete Account option. You must confirm your decision by entering your password or verifying your phone number. Once you delete your account, all your data will be erased from the app and you cannot restore it.
