Coffee Meets Bagel Shark Tank Net Worth, Salary, its founder, and other details. Dating website Coffee Meets Bagel, held by the Kang siblings, acquired fame for dropping a $30 million proposal from Mark Cuban. The determination paid off as the company is now esteemed at $150 million in 2024 and makes an annual income of $26 million.
Dawoon, Arum, and Soo Kang are Korean sisters who shifted to the United States as teenagers. They each obtained extraordinary teachings at Harvard University, Stanford University, and Parsons School of Design. Also, check Bitsbox Shark Tank Net Worth.
Coffee Meets Bagel Shark Tank Net Worth
Coffee Meets Bagel, launched by Dawoon, Arum, and Soo Kang is a triumphant company with over 25 employees. They are accumulating a yearly revenue of $26 million and gains of $4 million, rendering a lifetime revenue of $65 million.
Their net worth is predicted to achieve $170 million by 2024 through their hard work and surrender. The founders have faced problematic situations and made surrenders, which is why they have achieved triumph.
|Coffee Meets Bagel
|Dawoon, Arum, and Soo Kang
|$26 Million +
|Net Worth (2024)
An Overview of Coffee Meets Bagel
Coffee Meets Bagel is a widespread dating and social network service launched by 3 entrepreneur sisters in San Francisco. The app was founded in New York City on April 17, 2012, after one of the sisters had the idea for it in 2011.
The Kang sisters moved to San Francisco and quickly developed the CMB app with funding from Lightbank and a Match.com co-founder. The app uses Facebook data to curate matches for users, providing potential matches at noon each day.
The company experienced rapid growth in users and revenue but faced financial difficulties like many startups. To address this, the founders sought assistance from angel investors. Must Read Ootbox Shark Tank Net Worth.
Founder of Coffee Meets Bagel
Dawoon, Arum, and Soo Kang are Korean sisters who moved to the US as teenagers. They all received excellent education – Soo at Harvard, Arum at Stanford, and Dawoon at Parsons School of Design.
They discussed the challenges of online dating and agreed that there were better ways to create a dating app with improved match quality. The Kang siblings left their high-paying jobs to increase the likelihood of success for their idea, Coffee Meets Bagel.
Coffee Meets Bagel Shark Tank Pitch
In 2015, Dawoon, Arum, and Soo Kang pitched their dating site on Shark Tank. They wanted to raise $500,000 for a 5% stake in their company valued at $10 million.
During a tense discussion with the Shark Tank cast, a risky investment pitch became iconic. Despite skepticism from other Sharks, billionaire Mark Cuban showed interest.
The sisters on Shark Tank rejected a $30 million offer for their brand, CMB, as they believed it had the potential to compete with Match.com’s $800 million annual revenue.
Coffee Meets Bagel After Shark Tank
The founders of Coffee Meets Bagel raised over $23.2 million in funding through five investment rounds, with Atami Capital and DCM Ventures as their main investors. In February 2019, the site was attacked, and over 6.1 million users had their data leaked. However, they made a comeback in the following year by introducing a video virtual speed dating feature.
Coffee Meets Bagel (CMB) is facing challenges in tempting new users and keeping up with famous dating apps such as Hinge, Tinder, and Bumble. Despite being among the leading 15-20 dating spots in the US, CMB has approximately 10 million users on its Android and iOS platforms.
Coffee Meets Bagel, a dating app, has 25 remote employees and generates around $26 million in yearly earnings. Despite not meeting their earnings goals, the company is esteemed at $150 million but may decline in value. Must Check CupBop Shark Tank Net Worth.
Coffee Meets Bagel Shark Tank Net Worth Growth
|Coffee Meets Bagel Shark Tank Net Worth in 2024
|Coffee Meets Bagel Shark Tank Net Worth in 2023
|Coffee Meets Bagel Shark Tank Net Worth in 2022
|Coffee Meets Bagel Shark Tank Net Worth in 2021
|Coffee Meets Bagel Shark Tank Net Worth in 2020
What is the Net Worth of Coffee Meets Bagel?
Coffee Meets Bagel’s net worth is $150 Million.
How much does Coffee Meets Bagel earn yearly?
Coffee Meets Bagel earns $26 Million annually.
Who are the Founders of Coffee Meets Bagel?
Dawoon, Arum, and Soo Kang are the founders of Coffee Meets Bagel.