Coffee Meets Bagel Net Worth 2023: Company Background and Growth

Coffee Meets Bagel is a well-known online dating service that has garnered worldwide popularity among singles. With its novel approach to matchmaking and emphasis on quality over quantity, the application has attracted a substantial number of users.

In this article, we examine Coffee Meets Bagel’s net worth and provide information about its valuation, biography, physical appearance, career, and social media presence, among other things.

Coffee Meets Bagel Net Worth

Coffee Meets Bagel is estimated to be worth $150 million as of October 2023. In April 2012, three sisters, Soo Kang, Arum Kang, and Dawoong Kang, founded the dating and social networking service in San Francisco.

The app seeks to pair a user with a potential partner via a mutual Facebook friend. Discover and Suggested are the two primary sections in which a user can peruse profiles. Coffee Meets Bagel is relatively simple to use and very convenient compared to other dating websites.

2015 marked the company’s international debut with the opening of offices in Sydney and Hong Kong. Despite rejecting Mark Cuban’s offer of $30 million for the entire business in a January 2015 episode of Shark Tank, the Kang sisters still required funding for their rapidly expanding business to reach its full potential. They exerted tremendous effort, and on May 4, 2018, they secured $6.7 million in series B funding.

Revenue

When Coffee Meets Bagel appeared on Shark Tank, the company was projected to generate $1 million in revenues that year. However, since then the revenues have exploded.

As of today, the monthly revenue of Coffee Meets Bagel is $3.1 Million. The App has over six million users and over half of them are premium subscribers.

Coffee Meets Bagel is one of the most successful products to appear on Shark Tank, joining the list of Scrub Daddy, Bombas Socks, and Swimply. However, just like Swimply, Coffee Meets Bagel did not receive any investment from Shark Tank, but became a huge success.

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Net Worth Timeline

Coffee Meets Bagel Career:

The Kang sisters’ journey in the online dating market has been exceptional. They started Coffee Meets Bagel as a side endeavor while working full-time. Their passion and vision, on the other hand, spurred the app’s growth, securing successive investment rounds and extending its global user base.

Who Are Coffee Meets Bagel Founder?

Arum, Dawoon, and Soo Kang, the creators of Coffee Meets Bagel, are three entrepreneurial sisters with distinct educational backgrounds. Arum Kang attended Harvard Business School, Dawoon Kang graduated from Parsons School of Design and is the CEO of Coffee Meets Bagel, and Soo Kang attended Stanford University and is the Head of Design at Coffee Meets Bagel.

They started Coffee Meets Bagel together, demonstrating their commitment and inventiveness in building a unique and successful online dating platform.

Company Background and Growth

After receiving $600,000 in funding from Lightbank and a co-founder of Match.com, this trio of enterprising sisters launched Coffee Meets Bagel to disrupt the online dating business. They created Coffee Meets Bagel in less than a year and launched it in New York City in 2012, later extending to Boston and San Francisco.

Their similar desire to assist individuals in making meaningful connections motivated their efforts. Despite their remarkable credentials and commitment, Coffee Meets Bagel’s early days were not without difficulties.

Initially, the company struggled financially, with annual losses of $1 million due to personnel expenditures and marketing expenses. However, their patience and faith in their platform paid off in the end, resulting in their extraordinary financial success.

Coffee Meets Bagel Social Media Accounts:

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