Coffee suits Bagel could be the anti-Tinder relationship and social networking solution where ladies have actually the ultimate say in who they meet along with whom they communicate in the platform. The organization brands it self as a geniune, meaningful option to popular casual relationship apps.
Led by siblings Arum Kang and Dawoon Kang, the 2 co-CEOs run the company away from its bay area head office. Up to now, the Kang siblings did a great work with increasing money and amassing a passionate individual base, with more than 3 million compensated readers and total VC capital more than $31 million.
Coffee matches Bagel proudly distances it self through the type of its rivals such as for example Tinder, Hinge, and Bumble. The company’s standout characteristic is its penchant for curation and personalization.
Every the platform delivers a handful of curated matches to its users based on mutual interests, passions, and values day. The feature is in driving connections that last beyond the spark that is initial forge long-lasting bonds and relationships.
Exactly What Sets It Aside
They normally use a proprietary algorithm to set users with carefully chosen matches each and every day at noon. Based on the business, the algorithm is constantly undergoing updates and “evolutions” to produce much deeper, more intelligent matches between users regarding the platform.
Whereas other dating apps get a bad rep for their superficiality and surface-level depth, Coffee Meets Bagel makes a great work to dig much much deeper in to the characters of its users. For instance, Coffee Meets Bagel encourages conversations that are meaningful providing prompts such as for example “George just got in from a backpacking trip in Southeast Asia—Ask him about any of it!”
The application received a makeover in 2018 that introduced users to a tighter, cleaner, and much more minimalistic software centered around user’s pages in the place of their pictures. Rather than basing their screen on “Like” (right swipe) and “Dislike” (remaining swipe) functions, Coffee Meets Bagel showcases each user’s profile text and biography which 
users can “Heart” or leave a discuss.
Unsure whether you intend to make a link with some body in the software? Fortunately, Coffee Meets Bagel enables you to make new friends by making a profile. In this way, users can see if there’s a spark prior to taking the plunge and hitting the “Heart” button.
2019 Information Breach
On Valentine’s 2019, Coffee Meets Bagel announced that it was affected by a data breach in which over 6 million user accounts were impacted between 2017 and mid-2018 day. Fortunately, most of the information taken ended up being non-sensitive, but individual names, age, and sex information were compromised.
A “Slower” Type of Online Dating Sites
Coffee Meets Bagel prides itself on its mature, refined simply take on online relationship. Every day with the intention of limiting daily screen time to five minutes or less in a market dominated by endless swiping and scrolling, Coffee Meets Bagel only delivers a select few curated picks to users.
The app’s algorithm that is proprietary whom users have “liked” or offered into the previous to offer better, more accurate recommendations (whatever they call “bagels”). Coffee Meets Bagel offers a minimalist individual experience without fancy, contending colors or design elements to aid users give attention to their possible match.
For individuals who like to browse beyond their recommended bagels, they are able to use the “Discover” section to nearby check out extra bagels. Nonetheless, users based in the Discover section aren’t curated that will perhaps maybe not match your choices. Users must make use of “beans” (in-app currency taken care of with real-world money) to like bagels based in the Discover area.
Business Information
Coffee suits Bagel established in might 2012 in Boston, Massachusetts and launched its head office in san francisco bay area later on that year.
Since its launch, the Coffee Meets Bagel application has facilitated over 1 million times and, based on the company, “thousands of lasting relationships” between users. In January 2020, the application was downloaded 166,922 times.
Financials and Investment Capital
Since starting in 2012, Coffee Meets Bagel has raised $31 million in capital across numerous rounds from capital raising businesses. The company’s latest financing round, which happened in might 2018, raised $12 million in Series B money led by way of a privately-backed endeavor investment.
Prior to securing Series A and B financing, the Dawoon siblings showed up regarding the tv program Shark Tank where they switched along the offer that is highest of all time—$30 million from Mark Cuban to acquire the organization outright.
Coffee satisfies Bagel currently employs 67 people and garners approximately 180 thousand unique visits that are website thirty days. At the time of belated 2018, the organization creates over $900,000 in in-app profits on a monthly basis and obtained over $25 million in gross income that 12 months. In 2016, the application created a typical revenue that is annual customer of $39.