Coffee Meets Bagel
 | |
| Company type | Private |
|---|---|
| Industry | Online dating, Internet |
| Founded | April 17, 2012 |
| Founders |
|
Key people | |
| Website | coffeemeetsbagel.com |
| Footnotes / references [1] | |
Coffee Meets Bagel is a San Francisco–based dating and social networking service.[2]
History
[edit]Coffee Meets Bagel was created by three sisters: Arum, Dawoon, and Soo Kang.[3] Arum first had the idea for the app in 2011,[4] and the sisters launched the app in New York City on April 17, 2012.[5] Coffee Meets Bagel then launched in Boston on May 10, 2012 and in San Francisco on October 24, 2012.[6][7]
In September 2012, the company announced that it had raised seed funding of $600,000 led by Lightbank, with Match.com co-founder Peng T. Ong also investing.[8][9]
In January 2015, Coffee Meets Bagel was featured on Shark Tank, where the sisters sought a $500,000 investment in exchange for 5% of the company.[10] They did not make a deal with any of the sharks, notably turning down Mark Cuban's hypothetical offer of $30 million to buy the entire company, the largest offer in Shark Tank's history.[11][2]
In February 2015, the company announced a $7.8 million Series A financing round led by existing investor DCM Ventures.[12]
In May 2018, the company raised $12 million in Series B funding led by Atami Capital.[13]
As of 2024, Coffee Meets Bagel's net worth is estimated to be over $150 million, and revenue is estimated to be $36 million each year.[14]
User personal data breach
[edit]In February 2019, Coffee Meets Bagel acknowledged that an attacker had stolen "a partial list of user details, specifically names and email addresses" between late 2017 and mid-2018. Outside reporting indicated that as many as 6,174,513 accounts may have been affected and that other details including age and gender may have been taken as well.[15]
August 2023 service disruption
[edit]On August 27, 2023, Coffee Meets Bagel's service became unavailable without warning, with the company's engineers stating that they are dealing with a "system outage". Several users have expressed their dissatisfaction on the popular discussion forum Reddit, citing Coffee Meets Bagel's lack of transparent incident explanation and failure to provide service for multiple days. Additionally, users are concerned about the potential leakage of their personal data.[16][17]
The service was restored on September 3. In a FAQ, co-founder and co-CEO Dawoon explained that the outage was due to "an outside actor who maliciously deleted company data and files" and that a thorough investigation was launched to understand the full scope of the incident.[18][19]
Features
[edit]Features of the Coffee Meets Bagel app include limiting the number of profiles users can interact with each day and offering ice-breaker information for matches.[20][21] In 2020, Coffee Meets Bagel added video virtual speed dating in response to the COVID-19 pandemic.[22]
See also
[edit]References
[edit]- ^ Meyer, Anna (19 October 2018). "If You're an Entrepreneur, Dating Is Really, Really Hard. But It Doesn't Have to Be". Inc. Retrieved 22 June 2019.
- ^ a b "Where Coffee Meets Bagel, the Dating App Startup That Turned Down $30M 'Shark Tank' Offer, Is Today". ABC News. Retrieved 2021-10-13.
- ^ Walravens, Samantha (13 February 2017). "How This Sister-Run Business Is Changing The Dating Game". Forbes. Retrieved 22 June 2019.
- ^ Locke, Taylor (2021-05-04). "Founder of multimillion-dollar dating app Coffee Meets Bagel: 'Being an immigrant had a huge impact on my identity'". CNBC. Retrieved 2021-10-13.
- ^ "Coffee Meets Bagel Turns Online Dating Into A Daily "Deal"". techcrunch.com. 17 April 2012. Retrieved 2014-10-31.
- ^ "Coffee Meets Bagel Launches in Boston: Finding Love One Day and Person at a Time". bostinno.streetwise.co. Retrieved 2014-10-31.
- ^ "Coffee Meets Bagel Looks For Young, Tech Savvy Love With Today's San Francisco Launch". forbes.com. Retrieved 2014-10-31.
- ^ Kolodny, Lora (26 September 2012). "Coffee Meets Bagel Seeded With $600K for Daily Deals-Inspired Dating". The Wall Street Journal. Retrieved 22 June 2019.
- ^ Etherington, Darrell (26 September 2012). "Daily Dating Site Coffee Meets Bagel Lands $600K From Lightbank, Match.com Co-Founder". TechCrunch. Retrieved 22 June 2019.
- ^ "What Happened To Coffee Meets Bagel After Shark Tank? 2021 | SEOAves". seoaves.com. March 2024. Retrieved 2024-03-13.
- ^ "The San Francisco Startup That Wouldn't Bite on $30M 'Shark Tank' Tease". ABC News. Retrieved 2023-12-18.
- ^ Entis, Laura (18 February 205). "The Dating App That Refused Mark Cuban's $30 Million Buyout Offer Just Raised $7.8 Million in Funding". Entrepreneur. Retrieved 22 June 2019.
- ^ Marinova, Polina (31 May 2018). "Term Sheet -- Thursday, May 31". Fortune. Retrieved 22 June 2019.
- ^ "CoffeeMeetsBagel Review". TheSexGuide. Retrieved 2024-06-27.
- ^ Williams, Chris (11 February 2019). "620 million accounts stolen from 16 hacked websites now for sale on dark web, seller boasts". The Register. Retrieved 14 February 2019.
- ^ "Coffee Meets Bagel Service Outage". Coffee Meets Bagel. Archived from the original on August 30, 2023. Retrieved August 30, 2023.
- ^ "Coffee Meets Bagel: Dating app users rue missed connections amid outage". BBC News. 2023-08-30. Retrieved 2023-08-30.
- ^ Kang, Dawoon (September 3, 2023). "CMB August'23 Outage – FAQ". Coffee Meets Bagel. Archived from the original on September 4, 2023. Retrieved September 4, 2023.
- ^ "Global outage at Coffee Meets Bagel attributed to cyberattack". SC Magazine. September 6, 2023. Retrieved December 15, 2023.
- ^ "How game theory improves dating apps". 1843. 2016-11-07. Retrieved 2017-04-19.
- ^ "Coffee Meets Bagel Review". Askmen. July 30, 2009.
- ^ Conklin, Audrey (2020-05-07). "Tinder adding video chat feature as coronavirus forces more online dating". FOXBusiness. Retrieved 2020-12-24.
External links
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