Coffee Meets Bagel (CMB) is an online dating service that has generated a fortune from its billion introductions and matches to date. The millennial-targeted dating app claims to be responsible for over 100,000 happy couples worldwide. The firm had the most memorable TV moments after appearing on Shark Tank. Founded by siblings Dawoon, Arum, and Soo Kang, CMB gained a lot of fame when the founders declined a $30 million offer from billionaire Mark Cuban.
But did this rejection work in their favour? We will find out as we learn more about the founders’ story, their early lives, and struggles related to building the company, while also getting a sneak peek into Coffee Meets Bagel’s net worth.
Table of Contents
Coffee Meets Bagel Net Worth
As of 2024, Coffee Meets Bagel’s net worth is estimated to be around $150 million. The impressive numbers come from the dating app’s billion introductions and matches to date. The app claims to be responsible for over 100,000 happy couples worldwide.
Coffee Meets Bagel’s Main Income
Coffee Meets Bagel (CMB) primarily generates income through subscriptions and in-app purchases. The majority of its revenue is derived from paid subscriptions offering premium features, such as access to other profiles’ statistics, at a monthly cost of approximately $33. In addition to subscriptions, CMB also earns revenue through in-app purchases of beans, providing users with virtual currency to unlock additional features and functionalities within the app. With this, Coffee Meets Bagel’s net worth has definitely seen a rise and as a result, the company makes around $16 million in annual revenue.
Coffee Meets Bagel’s Other Income
Coming to the secondary source of income, Coffee Meets Bagel also benefits from advertising partnerships and sponsored content. While subscriptions remain the primary revenue stream, advertising collaborations further supplement the company’s earnings. With its free dating app model, which attracts a significant user base, the company leverages both subscription revenue and advertising opportunities, which boosts Coffee Meets Bagel’s net worth and helps sustain its operations.
Coffee Meets Bagel Social Media Accounts
Coffee Meets Bagel’s Founders Personal Life, Stats & Facts
Arum Kang is currently married and is a mom to two sons. However, the other two co-founders- Dawoon and Soo have kept their personal lives relatively private.
Coffee Meets Bagel’s Rise to Fame
In 2012, the Kang sisters—Dawoon, Arum, and Soo embarked on a journey, with the aim to redefine the dating app landscape. Three years later, they appeared on Shark Tank, seeking $500,000 for a mere 4% equity in their business – Coffee Meets Bagel (CMB).
Mark Cuban, offered a jaw-dropping $30 million bid for the company, which was the highest ever in the history of Shark Tank. However, the Kangs chose to decline Cuban’s in order to stay true to their vision.
Nonetheless, the exposure from Shark Tank catapulted CMB into the public eye. Over the next five investment rounds, the sisters were able to secure over $23 million.
And with undeterred hard work and determination, today, Coffee Meets Bagel boasts 10 million users worldwide. The dating app is often ranked among the top 10 dating apps on various app stores. And despite stiff competition from giants like Tinder and Bumble, and even exclusive platforms like Raya, CMB has managed to thrive over the years.
Today, the company has made much more than what Mark Cuban had originally offered to the co-founders. Coffee Meets Bagel’s net worth is not just impressive but is also a testament to the power of perseverance and principle.
Coffee Meets Bagel’s Founders Early Life & Education
Arum Kang is the Co-Founder and CEO at Coffee Meets Bagel. Arum attended Harvard Business School and The Wharton School. She also has experience working at Avon Products as well as Amazon.
Dawoon Kang received her MBA from the Stanford Graduate School of Business in 2009. After this, she went to J. P. Morgan’s Global Special Opportunities Group in Hong Kong. Dawoon has also worked as Vice President of the North Asia Investment team. Today, Dawoon serves as the COO & Head of Marketing and oversees the company’s overall vision, strategy, branding, and marketing. She as delivered multiple presentations on dating, technology, and entrepreneurship for organizations like Women 2.0 and The Commonwealth Club. Notably, she recently participated in a TEDx event in San Francisco alongside Arum, discussing “The Beautiful Truth About Online Dating.”
Soo Kang completed her Bachelor of Fine Arts (BFA) in Communication Design from Parsons School of Design in the year 2004. After that she has worked with various firms like Manhattan Marketing Ensemble and Coty before she co-founded Coffee Meets Bagel, where she is currently developing design concepts and delivering high-quality designs in line with business goals.
Stats & Facts
- Founded – 17th April, 2012 (11 years ago)
- Location- Headquarters in San Francisco, California, USA
Coffee Meets Bagel’s Net Worth in 2025?
Coffee Meets Bagel’s net worth is expected to see exponential growth in the coming years and this is because of several reasons. Firstly, the company’s innovative approach to online dating, spearheaded by CEO Arum Kang’s expertise in consumer behaviour and technology, positions favourably in a competitive market. Secondly, with a solid foundation built on extensive experience, Kang understands how to leverage consumer insights to enhance user experiences, driving user retention and engagement. Additionally, Soo’s successful track record of delivering intuitive interactive design will enhance the user’s experience, potentially attracting more users and investors. As the company continues to expand its user base, secure investments, and innovate its platform, Coffee Meets Bagel’s net worth is also bound to increase significantly.
