There is a plethora of dating apps. Why would the world need another one — one for which Shark Tank’s Mark Cuban offered $30 million? Coffee Meets Bagel caters to women users, scratching an itch that no other app had.
Dawoon Kang fulfilled a dream of having a business with her two sisters when they started Coffee Meets Bagel (CMB) in New York City. Now the app, based on a freemium model, is available all over the world.
In today’s episode you’ll learn:
- What distinguishes Coffee Meets Bagel from other dating apps
- About the infamous Mark Cuban buyout offer that was refused
- About the dynamics of building a business with family members
- Dawoon’s advice for young entrepreneurs
Listen to this episode on iTunes
What was your biggest insight from this week’s episode? Let Jay know in the comments or on Twitter: @jaykimmer.
LINKS FROM TODAY’S EPISODE
- Read the full transcript from Dawoon’s interview
- Find Dawoon on Twitter and Instagram
- Coffee Meets Bagel
DETAILED SHOW NOTES
- (01:28) Dawoon describes what is Coffee Meets Bagel and how it differs from other dating apps
- (05:21) The story behind the name Coffee Meets Bagel
- (06:43) How the CMB dating app saves women time and creates restriction/scarcity
- (0:08:50) How the CMB app works from a male’s perspective
- (0:10:01) How the CMB app works from a female’s perspective
- (10:52) Dawoon describes the CMB’s freemium model and where the app is available.
- (13:14) Dawoon’s entrepreneurial journey
- (14:30) Why Dawoon partnered with her sisters in creating CMB
- (17:24) Dawoon describes the dynamics of a business among siblings
- (20:35) Dawoon describes CMB’s famous Shark Tank experience
- (22:25) Advice for aspiring entrepreneurs
- (26:47) The big-picture goals for CMB
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