Highlights
- The Kang Sisters asked for $500,000 for 5% of the dating app, Coffee Meets Bagel.
- Mark Cuban offered a record-setting $30 million acquisition offer, which the sisters rejected, walking away without a deal.
- Coffee Meets Bagel has an estimated net worth of $150 million.
Coffee Meets Bagel is one of the most memorable Shark Tank Pitches, not because they won a deal, but because they walked away from an astronomical offer.
When the Kang Sisters, Aram, Da Woon, and Soo, stepped into Shark Tank, they wanted the Sharks to invest in their online dating platform, Coffee Meets Bagel, which offered a fresh take on online dating.
The real jaw-dropper came when Mark Cuban offered an astronomical $30 million hypothetical offer, which the sisters declined.
Despite walking away without a deal, Coffee Meets Bagel’s journey after Shark Tank is even more remarkable, as the company weathered a lot of setbacks to get to attain its current status.
Let’s explore what happened to Coffee Meets Bagel after Shark Tank, its net worth, and how it is doing today.
Coffee Meets Bagel Overview
| Attribute | Detail |
|---|---|
| Company name | Coffee Meets Bagel |
| Founder name | Arum Kang, Dawoon Kang, Soo Kang |
| Industry | Online dating / social networking |
| Product name | Coffee Meets Bagel (mobile app + matchmaking platform) |
| Asking (on Shark Tank) | $500,000 for 5 % equity |
| Valuation (on Shark Tank) | Implied $10 million post-money (based on their ask) |
| Result | No deal (walked away) |
| Shark with deal? | None — no shark invested |
How much is Coffee Meets Bagel worth today?
Coffee Meets Bagel has an estimated net worth of $150 million as of 2025, with annual revenues estimated at $36 million. After Shark Tank, the company raised $23.2 million in funding to date.
When the Kang sisters pitched Coffee Meets Bagel on Shark Tank, the company had an implied valuation of $10 million.
Coffee Meets Bagel Shark Tank Pitch
- The Kang Sisters appeared on Shark Tank Season 6.
- Their pitch focused on a dating app with a twist- instead of endless swiping for dates, their app would deliver a few curated matches per day -known as “Bagels”, based on mutual friends (via Facebook).
- The sisters asked for $500,000 in exchange for 5% of their dating app, giving their company a post-money valuation of $10 million.
- The sisters revealed they expected to lose $1 million on $1 million in sales during the year, but were projecting to break even at $10 million in sales.
- The Kang sisters left high-paying jobs to start Coffee Meets Bagel, and each sister was taking a $100,000 salary annually. This did not sit well with the Sharks since the company was not yet profitable.
- With all five Sharks out, Mark makes a surprising move and throws a hypothetical offer. He asks the sisters if they would take a $30 million offer for 100% of the company; the Kangs declined, saying that they see Coffee Meets Bagel growing as big as Match.com.
- The pitch ended without a deal, with Sharks citing the high valuation, founder’s salaries, and vague metrics.
After leaving Shark Tank without a deal, did Coffee Meets Bagel survive, and how is the company doing today? Keep reading to find out.
What happened to Coffee Meets Bagel after Shark Tank?
Although Coffee Meets Bagel walked out of Shark Tank without a deal, the exposure proved valuable after the show. Here is what happened post Shark Tank:
- Rapid fundraising: A month after their Shark Tank appearance, the company announced a $7.8 million Series A round, and a few years later, the company completed a $12 million Series B round. In total, they raised about $23.2 million in financing.
- App evolution: The app maintains a freemium structure, but advanced features require in-app purchases. They also introduced new features like virtual speed dating, video features, and curated events in big cities to deepen user engagement.
- International expansion: Although the app’s core market is the United States, they have expanded internationally into Asia and Southeast Asia.
- Revenue growth: The company is reported to generate about $25 million to $36 million annually, which shows the company is still thriving years after Shark Tank.
- Data breaches: In 2019, the company disclosed a data breach that affected over 6 million user accounts; the breach exposed personal information, including names, email addresses, etc.
- Scaling hitches: As the user base grew, the company experienced a strain on its infrastructure, with some Reddit users reporting frequent crashes and slow response times.
Since its inception, Coffee Meets Bagel claims to have facilitated over 150 million matches through its dating platform.
Is Coffee Meets Bagel Free?
The basic version of Coffee Meets Bagel remains free to users. New users can sign up to join via the app, receive matches (known as “Bagels”), browse, and communicate with potential matches without incurring any costs.
However, to access the advanced features, users must either subscribe or purchase in-app currency known as “coffee beans”. Some of the premium features include profile boosts, curated suggestions, extra interactions, and being able to see users who liked.
Is Coffee Meets Bagel still in business?
Coffee Meets Bagel is still thriving, and the Kang sisters continue to build the app to increase its user base. The company seems focused on quality over quantity matches, while giving women the upper hand.
While not without challenges, the company is still in business and is actively managing its operations in the United States and in international markets. The company continues to release newer app versions and roll out new features.
Coffee Meets Bagel also maintains an active Reddit community page, where users can provide feedback in real time. The community posts are mixed; some users have posted their luck in finding dates via the app, while other users complain about the frequent clashes and its slow response time.
The company also maintains an active presence on Instagram, where it posts real-life couples who found their perfect match via the app. They also post dating memes, relationship advice, events, and new updates and product releases.
FAQs
Did Mark Cuban invest in Coffee Meets Bagel?
Mark Cuban did not invest in Coffee Meets Bagel. However, what made the moment popular was Cuban’s hypothetical offer of $30 million to acquire the entire company. However, the offer was not a binding deal or equity investment.
Who was the girl that turned down a $30,000,000 Shark Tank deal?
The girl in question is not a single person but three sisters: Arum Kang, Dawoon Kang, and Soo Kang, the founders of Coffee Meets Bagel, a dating app. When Mark posed a hypothetical offer of $30 million to buy the entire company, the sisters declined. This moment became legendary for Shark Tank fans.
Did any shark invest in Coffee Meets Bagel?
The Kang sisters walked away from Shark Tank without a deal. All five sharks opted out for various reasons, including the high valuation, founders taking $300,000 in annual salaries, and a high break-even point.
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