Coffee Meets Bagel Explained

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Coffee Meets Bagel
Type:Private
Homepage:coffeemeetsbagel.com
Industry:Online dating, Internet
Footnotes:[1]

Coffee Meets Bagel is a San Francisco–based dating and social networking service.[2]

History

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]

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

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

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

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

Notes and References

  1. News: If You're an Entrepreneur, Dating Is Really, Really Hard. But It Doesn't Have to Be. Meyer. Anna. 19 October 2018. Inc.. 22 June 2019.
  2. Web site: Where Coffee Meets Bagel, the Dating App Startup That Turned Down $30M 'Shark Tank' Offer, Is Today. 2021-10-13. ABC News. en.
  3. News: How This Sister-Run Business Is Changing The Dating Game. Walravens. Samantha. 13 February 2017. Forbes. 22 June 2019.
  4. Web site: Locke. Taylor. 2021-05-04. Founder of multimillion-dollar dating app Coffee Meets Bagel: 'Being an immigrant had a huge impact on my identity'. 2021-10-13. CNBC. en.
  5. Web site: Coffee Meets Bagel Turns Online Dating Into A Daily "Deal" . techcrunch.com . 17 April 2012. 2014-10-31.
  6. Web site: Coffee Meets Bagel Launches in Boston: Finding Love One Day and Person at a Time. bostinno.streetwise.co. 2014-10-31.
  7. Web site: Coffee Meets Bagel Looks For Young, Tech Savvy Love With Today's San Francisco Launch. forbes.com. 2014-10-31.
  8. News: Coffee Meets Bagel Seeded With $600K for Daily Deals-Inspired Dating. Kolodny. Lora. 26 September 2012. The Wall Street Journal. 22 June 2019.
  9. News: Daily Dating Site Coffee Meets Bagel Lands $600K From Lightbank, Match.com Co-Founder. Etherington. Darrell. 26 September 2012. TechCrunch. 22 June 2019.
  10. Web site: What Happened To Coffee Meets Bagel After Shark Tank? 2021 SEOAves. 2021-10-13. seoaves.com. en-US.
  11. Web site: The San Francisco Startup That Wouldn't Bite on $30M 'Shark Tank' Tease . 2023-12-18 . ABC News . en.
  12. News: The Dating App That Refused Mark Cuban's $30 Million Buyout Offer Just Raised $7.8 Million in Funding. Entis. Laura. 18 February 205. Entrepreneur. 22 June 2019.
  13. News: Term Sheet -- Thursday, May 31. Marinova. Polina. 31 May 2018. Fortune. 22 June 2019.
  14. Web site: CoffeeMeetsBagel Review . 2024-06-27 . TheSexGuide . en.
  15. Web site: 620 million accounts stolen from 16 hacked websites now for sale on dark web, seller boasts . Williams . Chris . . 11 February 2019 . 14 February 2019.
  16. Web site: Coffee Meets Bagel Service Outage . live . https://web.archive.org/web/20230830151852/https://status.coffeemeetsbagel.com/ . August 30, 2023 . August 30, 2023 . Coffee Meets Bagel.
  17. News: 2023-08-30 . Coffee Meets Bagel: Dating app users rue missed connections amid outage . en-GB . BBC News . 2023-08-30.
  18. Web site: Kang . Dawoon . September 3, 2023 . CMB August'23 Outage – FAQ . live . https://web.archive.org/web/20230904092017/https://coffeemeetsbagel.zendesk.com/hc/en-us/articles/20204630281491 . September 4, 2023 . September 4, 2023 . Coffee Meets Bagel.
  19. Web site: Global outage at Coffee Meets Bagel attributed to cyberattack. SC Magazine. September 6, 2023. December 15, 2023.
  20. News: How game theory improves dating apps. 2016-11-07. 1843. 2017-04-19.
  21. Web site: Coffee Meets Bagel Review. Askmen. July 30, 2009.
  22. Web site: Conklin. Audrey. 2020-05-07. Tinder adding video chat feature as coronavirus forces more online dating. 2020-12-24. FOXBusiness. en-US.

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