According to Shark Tank update, Coffee Meets Bagel has a net worth is $150 Million. As of 2024, The company generates $36 million in revenue annually through its Dating App.
Coffee Meets Bagel failed to get any investment on the Shark Tank, but has successfully raised over $18 Million through outside funding.
This Shark Tank episode is famous on social media for Mark Cuban offering $30 million to buy-out the entire company.
Coffee Meets Bagel Net Worth
| Net Worth | $150 Million |
| Annual Revenue | $36 Million |
| Profits | $5 Million |
| Lifetime Revenue | $69 Million |
| Market Share | 13% |
| Employees | 25+ |
| Founders Equity | 71% |
Revenues
When Coffee Meets Bagel appeared on Shark Tank, the company was projected to generate $1 million in revenues that year.
However, since then the revenues have exploded. As of today, the monthly revenue of Coffee Meets Bagel is $3.1 Million. The App has over six million users and over half of them are premium subscribers.
Coffee Meets Bagel is one of the most successful products to appear on Shark Tank, Bombas Socks, and Swimply. However, just like Swimply, Coffee Meets Bagel did not receive any investment from Shark Tank, but became a huge success.
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Shark Tank Pitch
Coffee Meets Bagel profoundly changes how people meet each other and fall in love. It is not just another dating site. The problem with regular online dating apps is that people are treated as a piece of information.
How does Coffee Meets Bagel work? Every day at noon, the app curates one perfect match who is a friend of a friend.
Reaction from Sharks
When the three founders of Coffee Meets Bagel pitched on Shark Tank, each of them was drawing $100k as an annual salary.
At that time, the company has already raised $2.8 million through external funding. The App was losing $1 million each year on employee costs and marketing.
Mark Cuban who initially said he was out after the founders refused to give the number of active users, counters by offering $30 million for 100% of the company.
The founders rejected the offer which impressed Mark. However, he still doesn’t offer any deal. As of today, Cofee Meets Bagel has some of the highest valuations for any product that appeared on Shark Tank, with a net worth of $150 million.