Whenever Mark Zuckerberg announced the launch of a new feature that is dating Twitter at final weekвЂ™s Facebook F8 meeting, it took the international relationship software industry by shock. The stock associated with the Match Group вЂ“ owner of a few of the biggest dating apps in the field, including Tinder, OkCupid, and Match.com вЂ“ tanked 22 % in a hours that are few the statement. Given that industryвЂ™s players set themselves for the interruption Facebook will definitely bring to your sector, San Francisco-based dating platform Coffee Meets Bagel has revealed it simply shut a brand new round of money.
Coffee Meets Bagel вЂ“ or CMB, as it is popularly called вЂ“ has effectively raised about $7 million in VC capital in a set B round, based on an SEC filing by the company. The application, so named because matches are known as вЂњbagelsвЂќ in the platform, was released in April 2012 by three siblings вЂ“ Arum, Dawoon, and Soo Kang вЂ“ and it is understood for its give attention to womenвЂ™s choices. In the application, users distinguishing as females have the best to choose who’s able to вЂњmatchвЂќ and talk to them, a instead various idea from the more вЂњopenвЂќ surroundings of popular platforms like Tinder.
That is CMBвЂ™s funding that is fourth, and brings the companyвЂ™s total capital to $17.9 million, based on informative data on Crunchbase. The working platform previously raised $600,000 in a Seed Round . The companyвЂ™s existing investors include 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 MonkвЂ™s Hill Ventures, with Atami Capital joining record through the latest round.
The Kang siblings famously rejected a $30 million takeover offer from billionaire investor Mark Cuban on SharkTank in 2015, the largest-ever when you look at the showвЂ™s history.
What exactly do the Kang siblings feel about FacebookвЂ™s future entry into their ecosystem? Dawoon Kang, currently the COO of Coffee Meets Bagel, told The Observer in a job interview a week ago, вЂњThe proven fact that an organization as large as Facebook is leaping into dating talks into the growing demand plus the market possibility of the room. We have been pleased to see Twitter acknowledging the requirement to produce meaningful relationships beyond hookups, since the on the web culture that is dating has to move far from volume vs. quality interactions.вЂќ
Moving the main focus of perception of online dating sites far from вЂњhookupsвЂќ to вЂњlong-term relationshipsвЂќ is something the CMB group has pledged as the vision right away. With all the funding that is fresh accessible to them, it should be interesting to http://hookupwebsites.org/live-video-chat-review/ observe how Coffee Meets Bagel evolves it self within an ecosystem aided by the worldвЂ™s biggest social network platform as a competitor.
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