Mark Cuban Makes The Largest Offer In Shark Tank HISTORY To Coffee Meets Bagel | Shark Tank US
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- Опубликовано: 23 окт 2022
- The Kang Sisters, Arum Kang, Dawoon Kang, and Soo Kang are seeking $500,000 for 4% for their quality dating service for singles, Coffee Meets Bagel
From Season 6 Episode 13
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Mark Cuban Makes The Largest Offer In Shark Tank HISTORY To Coffee Meets Bagel | Shark Tank US
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Mark was testing them to see if they believed in their business and he was happy they did not accept it. They are worth 150 million today. So happy for these brilliant sisters!!
It was a blessing they didn't get any offers. Imo their vision and plan is way larger than the sharks could see. they value thmslvs hence their 100k salaries. I would've thrown all my $$$ at them. their wealth vibe is off the charts!
200 million now!
@@cheery-hex Nah if you are actually passionate and serious about starting a business you would understand that giving yourself a smaller salary while your business is growing is the much smarter thing to do. The salary will come when your business is succesful and making profit. Not when it's still bleeding millions a year.
But I agree their idea is pretty good. Glad it worked out for them, even though I disagree with how much salary they took
oh reallyyy?
On what basis exactly is it now worth $150 million?
He's not actually offering 30 mil tho, basically just checking them to see if they would take the deal or not. Good on them for saying no
Yes true 👍
He did say that he was just asking a question. Which apparently the sisters missed. Because, they went out and said that "Mark Cuban offered them 30 mil for the company". Understandably so, why Mark still has a sting to this. No way he was going to offer the Kang sisters 30 mil.
Their refusal to disclose their user base soured the sharks on making a deal. Bumble has surpassed them in 2022 anyway
Totally. And mark has a very valid reason.
It’s called a clickbait title. You’re welcome.
I love the respect Cuban shows legit people. He's so ridiculously business smart.
He wouldn't have gotten to where he is if he wasn't.
90% success rate. Its fcking big number
Hence why he is a billionaire.
I love how much you respect Mark Cuban.
@@kiriakoz don't really know the guy.
The company is now worth 150 million dollars, they made a smart decision on not taking $30 million
He was asking if they would, not offering
This update just after 12 days?!
Based on what? Online dating is a FAD, and no one can tell me that this website brings in traffic like E-Harmony, or Bumble. Most people get dates through social networking, not online dating. that's a FACT.
amazing
@@hitenbhanushali163 this is a reupload, the original video was made years ago.
Mark really liked when they said no to his 30 mil offer, it was a test and they passed
He said No
Yeah great test. He pretty much asked to see if these Kang Sisters cared about money. They have dad backing every last thing they ever do so they don't need to worry.
yeah, the application had $800k revenue last month (being august 2023)
@@republicofhandball8815 ok, how much they still owe? also would like to see fact numbers
@@ryanadonis I have no access to such numbers, but on sensor tower site you could check how much a mobile application makes a month
Marks stated multiple times that this was never an offer but a hypothetical question. They're doing very well today so good on them for what they achieved
Yes, he said "if dom err one offered you 30 million" he did not say "I'll offer you 30 million". Very clever Mark 😂
The sharks were right to pass. It was super risky. They just turned out to be a diamond in the rough. Good for them.
The company is worth 150 million right now
@@plan-bsmoothies2430 so would have been a 7x return if they weren't diluted in future rounds? And this is 8 years ago. With no dilution, great deal if a shark took it, but if they'd have been diluted, the return might not be there. Even then that's about a 40% annualized return, given the risk of a tank deal...still not a massive win best case.
@@plan-bsmoothies2430 That is wrong. Valued at $150 million by a random attorney doesn't mean the company is worth that money. Many companies usually do it to make fame in turn to attract attention.
tesla was also super risky at one point of time !!!
@@plan-bsmoothies2430 that is disappointing. I would have thought it would cross a billion.
One of the most confident presentations in Shark Tank and total faith in their product. Well done ladies that's the attitude. Even Mark Cuban was so impressed. Wish you all the best. 👍
Totally glad that the investors turned down these scam artists. Online dating is a FAD, and never profitable.I''m sorry but that stupid chick in the middle forgot one thing, you can't date without GUYS. when women act like that, they stay SINGLE. That's why single women outnumber single men by the MILLIONS. Count me OUT! Typical Golddigging Kimchi women.
So weird that they didn't share their total user base though.
@@TIMEDISORT yeah that was weird. Maybe privacy thing or contract with external company or investor idk
They are worth 150 million today.
@@TIMEDISORT maybe they werent 100% sure the exact number because they didnt expect to be asked that question
Barbara: Coffee and bagels give me indigestion, and for that reason I’m out.
lmfao
God loves you so! John 3:16✝️
Meets sounds like Meats. And for those reasons, I'm out
i cant imagine going on a date w a girl and finding out she made the app we met on
My god.
lol that whole plot is in a movie i forget which
At least she will be a millionaire eh?
@@fxcessnigeriauni their business now is now worth 150 millions
This comment is gnna blow 😂
Thank you to the kang sisters, I found my husband thanks to coffee meets bagel
That's awesome! I found my wife on tinder lol
So dating apps truly helps you find a “wife” “husband”? I’m 24 and never gave those apps a chance because i thought “dating apps” were useless and lame…. Mhmm something to think about
Aaaaand now they're divorced
@Hugh Dingwall lol! Thanks for the laugh😂
Two of my girlfriends met their husbands there too, this site seems to produce marriage lol
They rejected $30 million offer and Coffee Meets Bagel's net worth now is about $150 million. They really made it.
They never had a 30 milion offer, he asked "IF I offered you...", that wasn't an offer, it was a hypothetical question. If he wanted to buy it, he would just say that he will pay xyz mil for a whole company. This title is just generating more clicks.
To be clear, I don't think they'd sell it anyways because they already drew big investmenets according to what they said and they had large growth, but I think she still understood this is not an actual offer.
net worth doesn't mean a thing. it's worthless. but having 30 mil in your bank account means something. Even though it was not an offer, I would've taken the 30 mil and started 3 more companies...
lmao imagine thinking its worth that much. Thats a projected valuation......
@@marcellsimon2129do you realize the process of making 3 more companies? It takes years and years for 3 business to be up, running, and be successful.
How do you know it would not be worth ten billion with proper financing and experience? Just throwing that out there. Depends on what you will do for money, I guess. Being ultra rich is a choice, I think it looks complicated.
These women are number/data geniuses....and mark knows!. Well done ladies.
They went to Harvard and Stanford so it’s clearly that they’re bright.
@@timothinking9855 but unfortunately, it doesnt even matter what you say. They now have annual revenue of $16 million with company valuation of $150 million.
@@khlua4590 revenue of 16 million is not a lot. That is barely more than the 10 million they were talking about half a decade ago
@@sokunthy2009 no dummy school is a joke
@@chef222 unless it’s those schools🤣🤣🤣
It also solves another huge problem - the fear of your coworkers, friends, clients, etc. finding your dating profile. It’s brilliant.
The girl on the left is the definition of when ur mom says “Take ur sister with u”
I know many couples that met on coffee meets bagel that got married! They all are true believers of this app! Good for them
Two of my girlfriends met their husbands there, this site seems to produce marriage lol
I'm amazed how these siblings have their enough self-confident about their business's potential in the future. they're such brilliant
This is what a proper business investment meeting shouts be. There were no shenanigans, plain and simple. It was all about the risk. There was not much for the sharks to think.
Shouts be?
Thanks to this episode of shark tank. I was curious and made myself a profile. I ended up meeting my husband and we have been with each other 8 yrs. Many of our friends also met people there.
This episode is more than 8 years old? Dang
Congratulations!
Damn! Congratulations and wish you best of luck to both of you.
Imagine finding a husband on a dating app it’s sad people nowadays have to go on a stupid app to find someone to love instead of going outside to find someone themselves 😂😂😂😂
@@Bgramassfat do you think people bumped into each other like a meet cute before dating apps existed? get outta here, you shut-in
"creepy strangers" everyone looks at Keviin :)
i loved that.
Thank you Kang sisters! I met my wonderful husband on CMB and I never would've met him otherwise. 🥰
Two of my girlfriends met their husbands there, this site seems to produce marriage lol
Just googled about them now and saw that they are valued at $150 million with over 36 million in annual revenue. They are still not profitable !
Robert said it correctly that they are not trying to make a business but just raising funds and acquiring customers.
Having said that they still have managed to do what many couldn’t. Hats off to them ! 👍
Lmfao@still not profitable
What exactly is doing what many couldn't? Most people could start a company that never gets profitable...
Absolute rubbish, they're worth over 150 million and very profitable now. What a stupid comment.
You _had_ to use the ''Google'' branded 'search-engine' device to acquire this information?
These ladies are smart, 'cause even if they don't get a deal they get a free marketing for their business for just being on the show.
Huge marketing. That is actually worth so freaking much. Especially on the app market which is flooded...
Doesn't that apply to everyone who comes on the show?
i wouldnt say that that is smart. people who are 5 years old can understand the concept of publicity.
Sharks are venture capitalists. They are looking to turn 600 thousand dollar investment into a10 million dollar sell off to a large corporation.
"Though 30 million dollars MIGHT sound like a lot of money" at the end had me dying
Mark saying "let her talk" is the sign that he got his eyes
2022 and is now a US150 Millions Company. Mark Cuban is not stupid. He knew very well why he did that offer by then.
If someone is offering you 30 million dollars then you know your business is more worth than that.
Who cares you can always you that exit money to start something better with knowledge you have acquire. A sell is better than no sell.
@@runitonce7791 Runitonce member Here?!
Cuban just asked to test them. it was not a legit offer.
Dude if someone offers you 30mil you take it
@@macraeashwood4190 They’re worth over 150 million now. However, I think I might’ve taken the offer and reinvest.
I do not believe Mark gave them an offer. I believe it was a test, to challenge the value they placed on their company.
Of course it was a test. Had they accepted the offer, It would’ve proved that they had no faith in the business after trying to sell the sharks the future projections of its potential success.
This group is a real one. Well researched unlike the shock watch scammer I watched earlier.
Well done, ladies, and congratulations. I’m here to tell you it works. My son and future daughter-in-law met on Coffee Meets Bagel, and they will be getting married later this year.❤
oh God, it is will his worst decision ) IMHO) good luck to them )
Two of my girlfriends met their husbands there too. This site seems to produce marriages lol
Marry in lust and haste and divorce/annul later!
@@kingston163salty single
I know someone who met their husband on there too
Just for everyone’s information, this company is now worth $160 million.
so what? With a partner, it might be worth 6 billion. Who knows?
Either way they got free advertising and made a ridiculously free massive market outreach in just that episode. Now everyone thanks to Mark Cuban knows about Coffee and Bagel. They owe him for that strategy.
What strategy they were doing this before mark Cuban only thing they got was the free publicity that everybody who comes on the tank gets but everybody doesn't succeed with there business
It was the best presentation I'd ever seen
Business is worth 150 million now
“ I’m not sharing the exact number “ - IM OUT !!! IM OUT Lol GOOD FOR him
The fact that they are now worth 150million dollars says it all
@@ParissaKhoury Try to google before you start an argument about something you don't know!
@@ParissaKhoury You are right, I don't have to believe I'm talking with normal person too. Thank you.
125M, but… same difference lol.
@@ParissaKhoury bro u good?
@@airbvrne no he’s not, and for that reason, I’m out.
They are 100% confident what they are doing, and that business will grow up to billions I believe.
yee already in the hundred millions
They've peaked at 3 million active users in 2023. Their shares are completely diluted after raising $31 million from VC. Newer apps like Bumble have overtaken them completely in terms of users. This episode was filmed around 2015. They were claiming getting 4 million new users in 2015. Not too bad though. They've milked a lot of salary from the company since then and the money they are losing is VC money.
This is one of the best. And in history is one of the most successful products to have been presented in the tank.
Currently at 150 million net worth. Sharks really missed out here. Good job Kang sisters
@@jgs_gamestudio9096 not necessarily. It's probably like spending 100 million to get 150 million. When they finally burn all the money, it'll probably just collapse, unless they can continue to gather new investment.
@@gappergob6169 they most defiantly did not spend $100 million.
@@gappergob6169 Their "net worth" is 150 million. That means net of liabilities, they still have a worth of 150 million. They have 150 million to invest in themselves.
@Bussiness Name maybe they know by doing a quick google search
Wow, this father did a great job 👏🏻
They believe in what they do , that’s the key to success 🎉
It doesn't matter how much you believe you can fly if you jump off a cliff. Yes, belief in oneself and your mission is a HUGE positive factor, and it'd be a miracle to succeed in business without it, but belief alone is not going to get you there. It is not *the* key, it is *one* key through a door with several locks.
@@dismalthoughts every success stories begins from believing themselves.
You can believe in what you do, but you have to use your brain. There is no magic or guarantees in this tough world.
Holding onto something you believe in. That takes guts, and absolute dedication. Legends, wow, congratulations.
Aww i love them omg! Smart lovely ladies. Their parents must be so proud
This ep shows how out of touch the Sharks were with the tech industry at the time, with the exception of Mark and Robert. $100k in SF was entry-level salary, having that strong of a CAC/LTV ratio was fantastic (although would def get worse later), and the correct play was absolutely to throw money in and grow to get market share rather than growing low/slow, dating apps are all about users. The biggest risk wasn't copycats, it was their 100% reliance on Facebook. Still not sure it was a GREAT deal at $10m but the questions were way off base imo
we can see that sharks dont know much about the tech industry...they are focused mostly on traditional SMB than tech companies
So true
You should have definitely been one of the host sharks for this episode😭😭🤝🏼spot on
Lori didn't mean 100k but total of 300k from the business and not many people make anything near that!!
@@v1n3ger43you're right that not a lot of people make $100k annually in general. However, $100k is a fair salary in comparison to what they could earn working for a tech company instead of being entrepreneurs. They deserved to pay themselves that much.
He has openly said I did not offer that. He asked a question
They didn't come on for a deal, they came on for exposure
This is unbelievable! Good for them
Mark said I'm out but still had interest in it. He would've bought the company if she told him yes❤
I think he was just testing them...
The "no" answer has been delivered with confident. That will tell you how much this ladies will work their ars@@# for this company. Pure respect here. My offer would be 1mil for 20% with respect. 🙂
Dad did a great job with them 👏🏾
The way she said no. Iconic
Mark "did not offer" he said IF I did offer 30M. He wanted to see their response.
Barbara: I didn't get a coffee, a bagel or a date and so for the reason I'm out. 😅😅
she`s gota tie a pork chop around her neck to get the dog to play with her
Title is clickbait! That was not an offer, Mark was testing them if they trusted themselves, they passed which Mark acknowledged by nodding his head, but no way he was offering 30M. If they said yes Mark would have simply said that they did not trust in themselves so he was still out :)
EXACTLY, thank you!! He's done that before and when they said 'yes' he said they don't trust the business...
Thr most impressive episode since I started watching Shark Tank from the very first episode.
🎉🎉❤
The title of the video is inaccurate because Mark Cuban didn't actually make an offer, he just hypothetically asked them if they would take 30 million for the company
$100k is not a lot of money in the Bay Area. thats about $6k a month after taxes. a small studio rents for $2.5k. In San Francisco expect to pay $4-5k for a studio.
This episode is from Season 6, 8 years ago, still a fair pay tho.
@@tune2gr3is82 100k in SF or most of the peninsula won’t cut it. But on the east bay, from Fremont up Richmond 100k is plentty.
@@tune2gr3is82 You can get an apartment. I'm sure everyone that lives in SF isn't pulling down multiple six figures a year. The whole SF is super expensive thing is oversold.
It all starts at home, good parenting and congrats to these smart sisters succeeding..
I am going to sign up on their website, I love those 3 ladies already.
They are definitely going to get exposure from this show 😂
They already did many years ago
This aired in 2015
Total Coffee Meets Bagel mobile app revenue in October 2022 was $1m, including $700k for iOS apps and $300k for Android apps. Total mobile app downloads for Coffee Meets Bagel was 200k, including 100k iOS app downloads and 60k Android app downloads. Coffee Meets Bagel has a total of 4 apps, including 2 iOS apps, and 2 Android apps. Their top grossing app last month was Coffee Meets Bagel Dating App and their most downloaded app was Coffee Meets Bagel Dating App.
Maybe the back door is data collection
@@hillaryconsultingservices it totally is
Love it when the sharks rib Kevin and he just grins and takes it wonderfully 😂
The first smile on Barbara's face lets me know that she's out, there's a truth in her eyes saying she'll always go out, the touch of her words will pick me up whenever I fall..... Barbara says it best, when she says she's out.....
I wish I was in that position where people come to me to beg for my money and I could buy into the coolest and most rewarding businesses. Best job ever!
They aren’t really begging when they are offering money in return. I do hope I can do the same for indie game developers
Seriously!
However, their backs have been against the wall before. Read Barbara's book. It was definitely not an easy rise.
To get an excellent presentation comment from Kevin at the end speaks volumes!!!
That 5% for 500K would now be worth 7.5 Million. absolutely insane, they missed out on
bro are u ok
His math is correct
This BOOSTED my confidence and belief that in business, it's not all about the moneh. It's about their passion,dedication and passion they put in that give these highly intellectual sisters the highest confidence in their business...this to me...is the BIGGEST INVESTMENT they could put in. Harvard and Stanford didn't just exist for no reason...here's one proof.😊
so true
This isn’t a business it’s an app
The moneh!!!!
To be fair though there’s WAY more successful entrepreneurs that didn’t go to Harvard or Stanford than there are. Creating a good product and finding good marketing doesn’t require a 600 thousand dollar degree
@@bruh.2516 For sure. If someone spends years of their life in their prime in these indoctrination camps and goes hundreds of thousands of dollars in debt that’s basically an indication to me they’re not very intelligent. Of course there are exceptions if someone really wants to be a doctor or lawyer or something but generally speaking the piece of paper isn’t worth it for most people.
Cuban said months later that he would've never paid 30 million, he said that he was talking "theoretically"
The woman in the middle saying "No" to Mark Cuban is music to my ears
At 8:30 Cuban is having an epiphany…. Meditative talk with his universal gods getting that feeling he gets when he understands there is an opportunity and he’s going to take at and go all in.
DAMN, their confidence. 💪🏽💯
I think he just wanted to check if it was a scam. mark is not an amateur
That 30 million dollars was a trap question. She was smart enough to say no. He would have never paid that.
Misleading title. He never offered them anything. He asked them a question
Good on them for not taking the deal. They are now worth 150 million dollars
Yeah true. But you never know the future it may have gone the other way so it was a bet that paid off. Maybe they shouda said if you offer 60 mil we will take it
No they aren't.
where did you read that?
They are worth 150 m lol you guys made me google it
Their site is worth $150 mil, they (the sisters) are not. They still had to raise capital after appearing on ST and received around $23 million from various investors shortly after ST. But they do still have a share of the company instead of taking $30 mil but no shares.
Would’ve been more interesting show if they said yes and see how mark would react
man im obsessed with this show and dont care who says what i cant get enough of this haha i wouldnt take none of the deals on shark tank i dont really trust these people if you ask me
Question: If they source from Facebook, what's to stop FB from creating their own app doing the exact same thing? =/
Dang I wish I was in their position and could just be like "Well, Im taking 100K for myself, but its OK because its less than I used to earn"
I know. That hit home to me too 🤣
Yeah, but you're also forgetting they live in San Francisco. A 100k salary is like 30k is most other cities. Point taken though.
@@billaroundtheglobepeople just don’t know how to live once they make 100K a year. There’s people making 50-60K a year doing just fine in nice neighborhoods in SF.
@@jgs_gamestudio9096 You can't even get approved for rent at a 50-60k salary in a nice neighborhood. Maybe if you lived with family and didn't have any loans then sure.
@@skyestinson6499 true…
I think Mark had the right idea by trying to buy the company outright. Most of the time you like to invest in the people, in this case the people are the liability. The product is good in a market that’s going to continue to grow, but the fact that they’re paying themselves a six-figure salary after having to raise most of what they had, are expecting to lose all of the ten million they are projecting the following year, and aren’t even willing to share the current number of subscribers, shows me that the sharks were correct in not getting into business with them.
They are currently worth 150mil. They were the right people.
@@jeanirizarry8400 They needed 5 rounds of funding to accumulate over $23 million from 10 different investors and so far it has taken 11 years to generate less than 3.5% of what they claimed they would generate yearly. I can only imagine how little of the company they still own with that much outside funding required.
They are from San Francisco. 100k salary is still low-end there.
@@aniketprasad3128 this episode aired in 2015. There’s no chance they didn’t give themselves massive raises since then.
@@mashedpotatoes7854 it was low in 2015 lol
there are like thousands of dating site out there. im glad none of the sharks got scammed
This company makes up 13 % of dating market, it’s worth 150 million $ and has revenue of 36 million they missed Lmao
3:54 this is super key here. This is precisely the example to use to illustrate the difference between User Interface Design (UI) and User Experience Design (UX).
Its so good! What do others think here?
sales... $87,000.... Mark picks up his notebook again 😂
Barbara: I like meat and for that reason I’m in.
Also Barbara: I’m out.
@Mr BakedBean - Ohhhh ... you are SOOOO Funny !! (Not!)
Omg this show created many great stories 🎉
This episode was how long ago? I've never heard of this site, and I tried plenty of dating sites/apps for a while there.
I think the $300,000 in founders salary killed their interest. It gave the impression that founders want to put their interests over the business. They want to play safe. If this doesn't work atleast I got $100,000 for the year. They could have paid themselves $50,000 each just to pay off their rents and expenses. And use the money on the product. Thereby proving their commitment.
Exactly, their ego was just disgusting. 100k? gtfo
Oculus, a Facebook/Meta company, was given so much flack for requiring a Facebook account for the Quest 2. Seems kinda ridiculous that a 3rd party app requires it.
Kind of creepy having an app creeping through all your facebook stuff searching for “who” you are! No way!
$100k/yr is not much when you live in San Francisco.
Today Coffee meets Bagel is estimated to be worth more than $150 million, that's crazy, good for them!
3:05 that’s actually really mean 😭 😂
Sharks missed on a huge meal. The company is now worth $150M. A $500k investment for 5% would now be worth $7.5M!
The thing is they don't care because they don't need the money! That's what the Entrepreneurs unfortunately don't get. I wasn't impressed with this company or app.
@@AuntBooeveryone gets hacked now, there’s not much you can do if you are a target
.5 to 7.5 mill in 10 years if hardly the return on investment these people would salivate over!!
@@jomangeee9180 but it’s still a loss
@@jgs_gamestudio9096 a loss is being deprived of something you own! they never had ownership in that project! it is a 'loss' if they made no other investments in 10 years to realize such return!
Barbara: I don't like Coffee or Bagels and for those reasons I'm out.
great comment😁😃
Sick of weak. Barbara joked
@@HF1.0 nah it's still hilarious
@@HF1.0 it's funny for me too
Barbara: I don't like bagels and for that reason, I'm out.
This is an older episode. Not brand new. They now have millions of users, but a few years ago, they lost a lot of the user's data and trust.
Drawing a 100k salary is absolutely ridiculous and says a lot about them. I wouldn't partner solely for that reason.
100k/yr in San Francisco is not that much. It's one of the most expensive U.S. cities to live in.
He said "if" to test their integrity. He didnt necessarily offer them a dime.
He didn't offer thirty. He asked if he did offer it, would they take it. That is completely different.
Imagine going on a date off of a dating app and the person created the app 😂
First time I got to dislike a Shark Tank clip for Clickbait. He ASKED them "IF he offered them $30 million would, you take it?" he did NOT make an offer. Furthermore he was out before he asked his question.
Brillant and charming sisters. I wish them success. Respect.
You don’t mess with Mark Cuban 😂
CEO: 'loses a million dollars'
Also CEO: pays self and sisters $300,000
CEO. Company worth 150m
Also CEO: pays self and sisters 3m month ⚠