The dating app industry is on the rise in the USA market. Everyone loves to swipe right, if not for love, then for lust. After all, having casual stuff with the person you vibe with is super fun, isn’t it? Such is the vibe of a famous dating app that was featured on Shark Tank named Coffee Meets Bagel. And thus, we are writing and curating this well researched blog post to understand Coffee Meets Bagel net worth.
However, you will not only get to know the net worth of this app but also how much it is making, its famous reviews, and loads more content on CMB – Coffee Meets Bagel below. So, keep scrolling; you never know; it must be the app you’ve been searching for to date to jell and vibe with people online.
Table of Contents
Overview of Coffee Meets Bagel App
CMB or Coffee Meets Bagel, was founded back in 2012 by three sisters:
- Arum
- Soo Kang
- Dawoon
Arum was the first among the three sisters to have the idea of this app. Then the app was launched in New York in 2012. Later, it ventured into Boston and San Francisco markets. The company received a huge amount of seed funding back in 2012. The amount was about $600,000, per the data on Wikipedia.
Shark Tank and Coffee Meets Bagel
CMB was featured on Shark Tank in 2015, 3 years after it launched successfully in the USA market. The three sisters sought another investment of $500,000 on this Shark Tank episode in exchange for 5% equity in the company. However, they couldn’t get a deal with any of the sharks on the panel that day. Mark Cuban even offered $30 million to take over the complete stake of the company.
Nonetheless, that journey was just the start for the Coffee Meets Bagel sisters. In February of the same year, they bagged a huge A series funding. This time, DCM Ventures funded them with $7.8 million worth of the A series investment.
Also Read : How To Turn Off Screen Mirroring in 2023
Most Amazing Features Of Coffee Meets Bagel App
The Coffee Meets Bagel app claims to be the most sort after app for serious daters. On its official website, it already commits that 91% of people are looking for serious relationships on this app. So, it is an interesting app to explore when we are talking about Coffee Meets Bagel net worth. For serious investors, this section is very important.
Why?
From the features, you will know whether you want an app like this or not in your investment portfolio.
Create a profile:
This dating app lets you create a simple profile where you add about 5-8 selfies or photos of yours. It takes no less than 10-15 minutes to create your dating profile on CMB. It then asks you basic details like height, occupation, name, state, gender, etc.
Fill up prompts about yourself:
These quirky and witty prompts let other people know you a bit in a couple of seconds without actually messaging you first. These prompts can be like this:
- What is that one book everyone must read at least once in their life?
- You’ve fun while you’re on a date when you’re…
Filling up these prompts is fun for casual talks and ice-breakers. New people who find your profile on CMB can then swipe and text you right away as a reply to these prompts.
Dating preferences:
This app allows you to set dating or matching preferences. Nowadays, it is a pretty common or mainstream feature for dating apps to have a checklist of preferences. However, what’s smart here is that the Coffee Meets Bagel app runs on algorithms. It will show you a match according to your preferences. This way, you have more chances to get a reference from a person with whom you are going to vibe most frequently.
Bagels and Beans:
You can spend “Beans” on a “Bagel” when you’re using the Coffee Meets Bagel app. Didn’t get it? It’s funny and quirky, for sure. Beans here are the in-app currency to like people who you want to match with. At the same time, Bagels refer to the users or people on the app. Now, re-read the first sentence of this paragraph.
Virtual speed dating:
CMB introduced the feature of video calling to try out the speed dating feature, especially during the pandemic. This helped a lot of people when they had no one to connect with during the tougher times of their lives. Additionally, it’s awesome to verify if the other person matches your vibe on the video call before you actually plan to meet them in person. Then, you have one less thing to worry about when planning to go on dates with your favorite Bagels.
Coffee Meets Bagel Valuation Data and Summary
Have you read enough about Coffee Meets Bagel features up till now? So, it’s time to talk about the business it generates.
I have currently researched a lot of Coffee Meets Bagel net worth online. Online sources say that it has a revenue of about $23.3 million to $36 million. The app currently owns about 13% of the dating app market share in the USA market.
As far as the valuation goes, refer to the stats below:
Coffee Meets Bagel net worth amounts to $200 million.
Annual review, according to one of my researched other sources, is $36 million.
The same app, according to my research, makes $5 million in profits every year.
As stated above in the post earlier, the market share is about 13% in the dating app sector.
Did you know that 25+ employees are working in this company?
The founders’ equity is about 71% for this app as per the valuation summary I found online. It means the Coffee Meets Bagel founders still have the largest stake after raising funding from the market.
Coffee Meets Bagel Net Worth Timeline to Review
The Coffee Meets Bagel net worth in 2019 was $1 million. However, later the app successfully raised $4 million in 2020. Later, it was $70 million in 2022, and now it’s calculated to be about $200 million in 2023.
Conclusion:
If you ask me, I will tell you to try the app. Its demand is soaring in the market even in 2023. We all have seen in the post above that the CMB or Coffee Meets Bagel net worth is now crossing hundreds of millions every year. If you’re also looking for a long-term relationship, get on this app and meet your Bagels in no time!
