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Coffee Meets Bagel: A Dating App with a Growing Valuation

Introduction

1. Coffee Meets Bagel is a dating app that has recently gained popularity. As of May 4, 2018, the company has a post-money valuation in the range of $50 million to $100 million, according to PrivCo, a financial data provider for private companies. In this article, we will take a closer look at the company, its business model, and why it has become so successful in the competitive world of online dating.

Background

Coffee Meets Bagel was founded in 2012 by three sisters, Arum, Dawoon, and Soo Kang. The app was created to help busy singles find meaningful relationships by providing a curated selection of potential matches each day. The app's unique algorithm takes into account a user's preferences and activity on the app to make matches that are more likely to lead to a connection.

Business Model

Coffee Meets Bagel's business model is based on a "freemium" model, where users can access the basic features of the app for free but must pay for additional features and perks. The app offers a variety of paid features, such as the ability to see who liked your profile or the ability to see more potential matches.

The app also offers a premium membership called "Beans", which can be used to purchase additional features or perks. Users can earn Beans by referring friends to the app, completing certain actions on the app, or purchasing them. The company also generates revenue through advertisements and partnerships with other companies.

Investment

Coffee Meets Bagel has secured a significant investment from venture capital firms DCM Ventures and Atami Capital. The investment, which is reportedly in the millions of dollars, will be used to help the company to continue to grow and expand its reach in the competitive world of online dating. This investment would accumulate over 20 million dollars in total, according to the reports.

The involvement of these venture capital firms is a significant endorsement of the company and its business model. DCM Ventures is known for investing in technology companies, and Atami Capital specializes in investing in early-stage startups. The fact that these firms have chosen to invest in Coffee Meets Bagel is a strong indication of their belief in the company's potential for growth and success.

Reasons for Success

One of the main reasons for Coffee Meets Bagel's success is its unique approach to online dating. Unlike other dating apps that rely on swiping and matching, the app uses a curated selection of potential matches each day. This approach helps to reduce the overwhelming number of potential matches that users often experience on other dating apps and makes it more likely that users will find a meaningful connection.

Another factor contributing to the app's success is its focus on quality over quantity. The app's algorithm takes into account a user's preferences and activity on the app to make matches that are more likely to lead to a connection. This approach helps to ensure that users are presented with potential matches that are more likely to be compatible.

The app's freemium business model also plays a role in its success. Users can access the basic features of the app for free, which makes it accessible to a wider range of users. The app's premium features and perks, such as the ability to see who liked your profile or the ability to see more potential matches, provide additional value for users who are willing to pay for them.

Conclusion

Coffee Meets Bagel is a dating app that has grown in popularity in recent years. The company's unique approach to online dating, focus on quality over quantity, and freemium business model has all contributed to its success. With a post-money valuation in the range of $50 million to $100 million as of May 4, 2018, it is clear that the company is on a path of continued growth and success in the competitive world of online dating.