Coffee and Bagel for $30 Million
Quality over Quantity dating
In season 6, the now popular dating app, Coffee Meets Bagel presented on the Shark Tank. Asking for a pretty large sum of $500,000 for 5% of their company, the sisters from San Francisco pitched their revolutionised dating app to the sharks.
If you haven’t used Coffee meets Bagel yet, lucky you! It probably means you already have someone special. But for us unlucky ones, we are usually stuck with dating apps like Tinder where, to be honest, the female population feels like commodities for the purpose of DTFing.
Coffee Meets Bagel is a dating app that flips the quantity game over its head and focuses solely on quality instead. Specifically curated matches based on your Facebook profile only pops up a few times every day and not the list of faces we are usually used to on Tinder.
Sounds great for all of us looking for some committed snuggle time? Well, the Sharks didn’t bite with all the sharks going out citing fears that the business will keep losing money and the risk is just too high. After all, they said they would only be breaking even when they hit the $10 millions mark. That’s a pretty hefty price tag on a date.
But wait! Mark Cuban hypothetically offered the sister $30 million for their entire company, which they rejected. Probably the highest offer to be rejected on the Shark Tank ever. But it was a great decision by the trio and recent news suggests that their company might be worth north of $600 million now!
Guess saying no to Cuban paid off!
Adapted from: Shark Tank Season 6, Episode 13
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