Whenever Mark Zuckerberg announced the launch of a forward thinking brand new function that is dating Twitter at final months Facebook F8 meeting, it took the worldwide relationship pc software industry by surprise. The stock when it comes to Match Group owner of some of the biggest dating apps on earth, including Tinder, OkCupid, and Match tanked 22 per cent in a few hours following the declaration. After the industrys players set on their own when it comes to disruption Facebook will certainly bring towards the sector, San dating this is certainly francisco-based Coffee Meets Bagel has revealed it simply shut a unique round of funding.
Coffee satisfies Bagel or CMB, since it is popularly called has effortlessly raised about $7 million in VC money in a group B round
According to an SEC filing due to the business. The applying, so named because matches are referred to as bagels into the platform, premiered in April 2012 by three siblings Arum, Dawoon, and Soo Kang and it’s also recognized for the present focus on womens alternatives. Concerning the application, users identifying as women get the best to decide on that is in a posture to match and communicate with them, an idea that is instead different the greater amount of available environments of popular platforms like Tinder.
That is CMBs 4th money round, and brings the companys total capital to $17.9 million, according to home elevators Crunchbase. The platform that is working raised $600,000 in a Seed Round . The companys present investors contain Lightbank, Azure Capital Partners, Quest Venture Partners, DCM Ventures, WI Harper Group, CRCM Ventures, Artsy CFO Sandy Cass, and Peng T. Ong, Founder & Partner at Monks Hill Ventures, with Atami Capital record that is joining the round that is latest.
The Kang siblings famously declined a $30 million takeover offer from billionaire investor Mark Cuban on SharkTank in 2015, the largest-ever to the programs history.
Exactly what precisely perform some Kang siblings feel about Facebooks entry this is certainly upcoming their ecosystem? Dawoon Kang, currently the COO of Coffee Meets Bagel, told The Observer in work meeting last week, The indisputable fact that a company since large as Facebook is leaping into dating talks to the demand that is growing well since the market possibility with this particular area. We’ve been delighted to see Twitter acknowledging the necessity to create significant relationships beyond hookups, because the on the web dating culture undoubtedly needs to go far from amount vs. quality interactions.
Going the primary focus of perception of online dating services far from hookups to relationships that arelong-term is something the CMB group has pledged because the vision right from the start. Utilising the fresh capital now agreed to them, its interesting to see or watch just how Coffee Meets Bagel evolves itself within a ecosystem due to the globes biggest social media platform to be a competitor.
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