Founder of multimillion-dollar dating app Coffee Meets Bagel: ‘Being an immigrant had a huge impact on my identity’ (2024)

This story is part of the Behind the Desk series where CNBC Make It gets personal with successful business executives to find out everything from how they got to where they are to what makes them get out of bed in the morning to their daily routines.

For Dawoon Kang, co-founder of dating app Coffee Meets Bagel, entrepreneurship is in her blood.

Both her parents started their own businesses in Korea, even though that wasn't typical there, Kang tells CNBC Make It.

Kang emigrated from Korea to the U.S. when she was 12 with her twin sister, Arum, and their older sister, Soo. A family friend looked after the girls while their parents stayed in Korea to run their business.

"Being an immigrant had a huge impact on my identity," Kang says. That and being a woman "really shaped my world view," she says.

In the U.S., the sisters overcame challenges together, including acclimating to the U.S. and learning English. It bonded them, and as adults they became business partners.

Arum had the idea to create Coffee Meets Bagel in 2011, and the following year Kang quit her job at JPMorgan to launch the app with Arum and Soo.

"It just felt natural," Kang says.

Coffee Meets Bagel founders on ABC's "Shark Tank" in 2015

Tony Rivetti | Walt Disney Television | Getty Images

Kang originally took on the role of COO, then became CEO in 2016. Today, she is the chief dating officer, focusing on "the science of dating" to improve the app's user experience and match results.

Here, Kang shares her experience adapting in the U.S., leaving her job at JPMorgan to start Coffee Meets Bagel, her daily routine and more.

On immigrating: 'I was very quiet for a long time'

I was a very vocal, outspoken child when I was in Korea. That was such a big part of who I thought I was, and not being able to [speak English and] do that, it really shook me to the core. Because I was very embarrassed about speaking up and making grammatical mistakes, I was very quiet for a long time.

It took me a very long time to get over that and be able to even think about actually running a company and to articulate my vision to people. It takes a lot of courage.

At the end of the day, I realized it didn't really matter if I was making mistakes. The emotion that I was having, it communicates. If you believe [mistakes matter], then it's going to become an obstacle to whatever you want to do.

Coffee Meets Bagel co-founders and sisters Arum (left), Soo, and Dawoon Kang (right).

Courtesy of Dawoon Kang

On her entrepreneurial parents: 'That was really inspiring'

My dad started his own scrap iron business when he graduated from college. He actually never worked for anyone else in his life. I grew up seeing how much love and passion he was putting into his business and the legacy that he wanted to build. So, that was really inspiring.

My mom also operated a few shops. She had to speak in front of people and be a leader, and that wasn't something that was natural for her. In her generation growing up in Korea, that's just not what women did.

She actually enrolled herself in a Dale Carnegie kind of institution to learn how to speak better. She would practice in front of us. It was so endearing. Even though it was uncomfortable and embarrassing, she was still willing to go through that.

That's what life is all about. You learn, and then it becomes comfortable, and then you try something else. That persistence I learned from her.

On quitting JPMorgan: 'You never know how it's going to play out'

[At JP Morgan], I was enjoying my work. But I knew that at the core, it didn't fulfill some of the needs that I had.

Then my sister [Arum] graduated from Harvard Business School and initiated the idea: "Hey, we always talked about starting a business. Why don't we actually do it now?"

I saw Jeff Bezos speaking about how he makes major decisions in his life, and he looks at himself when he's 60 or 70 and asks himself things like, would I regret this decision if I don't take it? I knew immediately, instinctively, that I would [regret it] if I didn't actually take the time to try this. So, when I used that framework, it was a very easy decision.

Everything comes together in the end, even if you didn't really plan for it, which is why I think it's important to just follow your gut. See what kind of things draw you in, because you just never know how it's going to play out.

On diversity: 'That has an impact on how we show up'

When we think of an entrepreneur, we typically think of about Mark Zuckerberg, quintessential classic Silicon Valley. And if you don't fit into that specific role, you could feel like, maybe I'm not cut out for this.

I remember every time I walked into an investor pitch, my investor committee was all white guys, and I'm the only person who is female and Asian. That had an impact on me. Subconsciously and consciously, that has an impact on how we show up. When you walk into the room and you're the only person who looks like that, whatever that is, or you're "the only," then immediately, you're going to feel that you're not seen or understood.

To create an inclusive environment is very, very important. As a business person, you're actually servicing all kinds of consumers, and if you don't have those consumers represented in the people who actually work on the products, you just don't have the edge. From a business perspective, it's no brainer. Diversity has to come first.

On parallels between business and dating: 'Why don't we apply quarterly reviews to relationships?'

It's funny, one of the key skills that I learned to be a better leader and manager at work translates to my dating life – "compassionate communication." I learned it for work, but I also used it in dating and with my current partner.

A lot of business practices, Iike quarterly reviews — why don't we apply this to relationships, like relationship reviews? It's an opportunity to step back and think about areas that are working and not working well in your relationship, because you could always be doing better.

CNBC Small Business Playbook returns

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On her daily routine: 'I get so sucked into work'

Sleeping has a critical impact on my mental health. Without it, I just can't function. That's actually why I also cut out alcohol, because I realized that when I drink, I don't sleep well.

I go to sleep at 9 p.m. these days. I don't have an alarm clock, so I wake up whenever, usually between 5 a.m. and 6 a.m.

Once my day starts, I get so sucked into work. So meditation, exercise, affirmation and writing [in a journal], I always do each day in the morning. My routine is based on "The Morning Miracle: The Not-So-Obvious Secret Guaranteed to Transform Your Life Before 8 a.m." by Hal Elrod.

I [also] reflect and I share what I am grateful for each day with my sister, Arum, because we are able to uplift each other. It is such a simple thing, but it's so powerful. It's not a magic pill, but once you [express gratitude] consistently, you're going to see it has an impact.

So much of your life experience and the choices that you make is based on your beliefs and how you see the world. And your view depends on your mental state. So, I'm a big believer of getting into the habit of keeping your mental state happy.

This interview has been edited for length and clarity.

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Founder of multimillion-dollar dating app Coffee Meets Bagel: ‘Being an immigrant had a huge impact on my identity’ (1)

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This 30-year-old's start-up is bringing science to everyone

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Founder of multimillion-dollar dating app Coffee Meets Bagel: ‘Being an immigrant had a huge impact on my identity’ (2024)

FAQs

Founder of multimillion-dollar dating app Coffee Meets Bagel: ‘Being an immigrant had a huge impact on my identity’? ›

“Being an immigrant had a huge impact on my identity,” Kang says. That and being a woman “really shaped my world view,” she says. In the U.S., the sisters overcame challenges together, including acclimating to the U.S. and learning English. It bonded them, and as adults they became business partners.

What is the Coffee Meets Bagel controversy? ›

A proposed class action alleges that dating app Coffee Meets Bagel unlawfully collects and shares Illinois users' facial geometries captured through its account verification process.

Who are the founders of Coffee Meets Bagel? ›

History. Coffee Meets Bagel was created by three sisters: Arum, Dawoon, and Soo Kang. Arum first had the idea for the app in 2011, and the sisters launched the app in New York City on April 17, 2012. Coffee Meets Bagel then launched in Boston on May 10, 2012 and in San Francisco on October 24, 2012.

What happened to the Kang sisters? ›

Coffee Meets Bagel is still in business

Coffee Meets Bagel is still an active and thriving dating website, and the Kang sisters continue to take things to the next level. Their goal isn't to get users the most profiles to choose from; they're more interested in quality matches, making their priority their women users.

What is the Coffee Meets Bagel lawsuit? ›

Who: Anthony Cajas filed a class action lawsuit against dating and social networking app Coffee Meets Bagel Inc. Why: Cajas claims Coffee Meets Bagel is violating Illinois biometric privacy law with its practices for collecting, storing, obtaining and using the biometric data of its users.

What country uses Coffee Meets Bagel the most? ›

coffeemeetsbagel.com Website Traffic by Country
CountryAll devices
United States52.64%111.97K
Thailand14.47%30.77K
Canada5.78%12.29K
Malaysia5.36%11.4K
1 more row

How much is Coffee Meets Bagel worth today? ›

As of 2023, the Coffee Meets Bagel net worth is estimated to be over $150M. This is backed by a fantastic annual revenue of $16M, according to several sources. The official numbers, though, aren't publicly known.

How much is Coffee Meets Bagel worth in 2024? ›

As of 2024, Coffee Meets Bagel's net worth is estimated to be around $150 million. The impressive numbers come from the dating app's billion introductions and matches to date. The app claims to be responsible for over 100,000 happy couples worldwide.

Why is it called Coffee Meets Bagel? ›

We studied a lot of brand imaging and discovered while guys want a feeling of exclusivity, women want comfort and safety. We thought coffee breaks are something people look forward to; they're comfortable. And since we were in New York City at the time, and we loved the bagels there, we came up with Coffee Meets Bagel.

Who was offered $30 million on Shark Tank? ›

The entrepreneurs who rejected the biggest offer in the history of Shark Tank! Their dating app, Coffee Meets Bagel, focused on creating a better experience for women three years before Bumble was founded. After making their pitch, Mark Cuban offered them $30 million for the company, but they rejected it.

What Shark Tank rejects that made it big? ›

Ring. One of the most notorious (and successful) Shark Tank rejects started as a video doorbell name Doorbot. After a famously tepid reaction from the sharks, Amazon later bought the company for a deal worth nearly $1 billion. By early 2018, the company introduced a smart home doorbell dubbed Ring.

Is Coffee Meets Bagel worth the money? ›

Most reviews on the site report disappointment in the number of potential partners. Reviewers also report fraudulent activity by other users, poor in-app security to protect users and fewer high-quality matches than on other dating apps.

Is Coffee Meets Bagel LGBT? ›

Yes! Coffee Meets Bagel is for anyone seeking genuine connections.

How successful is Coffee Meets Bagel after Shark Tank? ›

After appearing on Shark Tank in 2015, and famously turning down a $30 million offer from Mark Cuban, CMB went on to raise over $20M in funding, and grew to over 50 employees.

How do Coffee Meets Bagel make money? ›

According to Sensor Tower Store Intelligence estimates, the service has earned $10 million in net revenue on the platform via in-app purchases and subscriptions.

Is Coffee Meets Bagel losing money? ›

Like every other startup, all could have gone better for Coffee Meets Bagel initially. Despite raising a heavy investment from the renowned VC investor Lightbank, the company ran into losses in its first year. In numbers, this loss amounted to a million dollars every year. Yes, every year!

What is the concept of Coffee Meets Bagel? ›

Coffee Meets Bagel was designed to counteract the endless swiping of dating apps and help users find a long-term match. While the app eliminates endless swiping, the match compatibility isn't as good as other platforms.

What does it mean when someone sends you flowers on Coffee Meets Bagel? ›

Send flowers to show your interest in Discover. Flowers: When you send flowers, your match will be notified right away, and your profile will be shown at the top of Likes You with a virtual bouquet. You can send them in both Discover or Suggested, and you can always match with anyone who sends you flowers for free.

What happens if you like someone on Coffee Meets Bagel? ›

When you like a bagel, it means you're interested in that CMB Dater. To like a bagel, simply tap the heart icon when viewing their profile. Sending a like in Suggested is totally free. Sending a like in Likes You is free for profiles that aren't hidden.

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