Coffee Meets Bagel is a tech company that provides online dating services, facilitating connections between individuals through its app and website. It was founded in 2014 by three Korean-American sisters, Soo Kang, Arum Kang, and Dawoon Kang. The platform’s system, which connects people through mutual acquaintances, received positive feedback and quickly gained attention. Just a year after its launch, the company appeared on Shark Tank.
During the show, billionaire investor Mark Cuban offered to buy the entire company for $30 million. However, the three founders firmly rejected the offer, stating that the valuation was too low. Their decision became a major talking point. Over the next nine years, the company experienced rapid growth as the sisters had predicted. Today, Coffee Meets Bagel has a valuation of over $150 million and employs more than 60 people.
The Korea Daily spoke with Dawoon Kang, the Chief Operating Officer (COO), about their Shark Tank experience and the company’s journey since then.
What led to your appearance on Shark Tank?
“A Shark Tank producer was in fact a Coffee Meets Bagel user and reached out to us with an offer to appear on the show. In the early days, the show primarily featured small businesses rather than tech companies like Coffee Meets Bagel, so we initially declined. However, we eventually decided to participate because receiving investment offers from legendary investors like Kevin O’Leary and Mark Cuban would be a unique opportunity.”
Were you nervous on the show?
“I was terrified. Over the years, I’ve pitched to investors countless times and successfully raised nearly $20 million in funding. But I had never been as nervous as I was on that day. The thought of making a mistake on a show watched by people all over the world was overwhelming.”
What do you think made investors respond positively to you?
“Authenticity and a unique story. Being honest and sharing your personal journey can be very powerful. As a minority woman, I talked about my upbringing and how I started the business, and that always resonates well with investors. Being part of a minority means standing out, which can actually be an advantage. People often assume being a minority is a disadvantage, but in reality, it can be a strength.”
What was the reaction when you turned down the $30 million buyout offer?
“Everyone around us believed in our vision, so we didn’t receive much negative feedback. However, there were some online comments criticizing us for being greedy. But we didn’t pay much attention to them.”
Has being a Korean-American woman helped in business?
“Investors have a positive perception of Koreans as hardworking, which helped us in fundraising. The fact that we are three sisters running the company also differentiates us from other dating services. In dating apps, attracting female users is crucial, and many users choose Coffee Meets Bagel because it was founded by three women.”
How has Coffee Meets Bagel grown since Shark Tank?
“We focused on our core concept—helping people build long-term relationships rather than casual encounters. This focus has been the key to our continuous growth. We also expanded into Southeast Asia, which has been a great success. The dating industry is extremely competitive, and at times, we were tempted to follow emerging trends. But through experience, we learned that staying true to our core values is far more beneficial.”
Any advice for aspiring Korean-American entrepreneurs?
“When I first moved to Hawaii for school, I didn’t speak English well, and I felt very intimidated. Growing up as a minority can often lead to self-doubt and limiting beliefs. But the world has changed. Now, it’s a time when we can proudly embrace our Korean identity. I truly believe that being Korean is a huge blessing. Confidence is essential for success in business. A company can only grow as much as its leader’s capabilities, and a leader’s strength comes from self-confidence. If you keep pushing forward, good results will follow.”
BY WONHEE CHO [cho.wonhee@koreadaily.com]
