⁠"Single women are tired" When Coffee Meets Bagel boldly rejected Shark Tank's Mark Cuban's offer for $30 million 

Dawoon Kang declared on Shark Tank:

"Single women are tired of signing up for dating websites only to get hit on by creepy strangers bombarding them with disgusting messages"

She had recently entered ABC's Shark Tank with her sisters, Arum and Soo Kang, to promote their dating service, Coffee Meets Bagel. One of the most memorable scenes in the show was what came afterward.

Offering a novel approach to internet dating, the Kang sisters were looking to finance $500,000 for 5% of their business. Coffee Meets Bagel prioritized quality over endless swiping and leveraged Facebook data to link users through mutual friends, in contrast to other sites.

However, when billionaire Shark Tank investor Mark Cuban, who was fascinated by the possibilities, made an unprecedented counteroffer—$30 million for the entire company—the pitch took an unexpected turn. The sisters reject him without hesitation.

The decision stunned the Sharks, left viewers in disbelief, and cemented Coffee Meets Bagel's place in Shark Tank history. But why did they say no, and what happened next?

What happened with Coffee Meets Bagel’s Shark Tank pitch?

When the Kang sisters entered Shark Tank, they presented Coffee Meets Bagel as the "anti-Tinder." Their app provided one carefully curated match per day—no unsolicited messages, no endless swiping. The sisters argued that women, in particular, were frustrated with the chaotic nature of existing dating apps.

The Sharks were interested, but the sisters paused when asked how many people used the app. Due to their imprecise estimate of "between 100,000 and 500,000 users," the investors were not pleased. Mark Cuban, who was first dubious, made the biggest bid in Shark Tank history when he offered $30 million to purchase the entire business.

The response was immediate. "No," they said without even flinching. The room went silent.

"He offered you $30 million, and you didn’t even flinch!" exclaimed Robert Herjavec, stunned by their confidence.

The sisters stood firm, believing their company was worth far more in the long run.

"We see this business growing as big as Match.com," Dawoon explained.

Elaborating:

"They’re becoming a billion-dollar-revenue company, and we think this model and the product has potential to be as big as Match."

Their conviction wasn’t unfounded. By that point, Coffee Meets Bagel had already secured $2.8 million in funding from investors, including Match.com co-founder Peng Ong. With degrees from Harvard, Stanford, and Parsons School of Design, the sisters had left high-paying corporate jobs to build something they believed in.

However, their bold rejection came at a price. Viewers of Shark Tank flooded social media with mixed reactions, with some calling them “gold-diggers” and “greedy.” Arum Kang later reflected:

"Would we have been called those names if we were not women? I had to wonder that. If we were men, we would probably be called ‘bold! Visionary! Brave!’ for rejecting. Of course, we weren’t called that."

Coffee Meets Bagel’s success and reflections

Despite walking away from Shark Tank empty-handed, Coffee Meets Bagel didn’t suffer. The company soared. By 2019, the app had raised $7.8 million in external funding and more than doubled its user base. The sisters leaned into their "anti-Tinder" branding, positioning Coffee Meets Bagel as the go-to platform for people seeking real relationships rather than casual flings.

Unlike Tinder—where 58% of users are men—Coffee Meets Bagel attracted more female users.

"Any woman who has used Tinder has one or many stories of the kinds of behavior men exhibit on Tinder," Arum Kang said.

Explaining:

"It’s not the greatest experience and … it feels creepy."

Their app, by contrast, was designed to prioritize meaningful connections, using a "Bagel" system that matched users through mutual friends and only allowed communication for seven days if both parties showed interest.

The online dating industry is a $2 billion business, and Coffee Meets Bagel had fierce competition. Tinder dominated casual dating, while apps like Hinge, Bumble, and The League carved out their own niches. But Coffee Meets Bagel’s focus on serious relationships helped it stand apart.

The app’s success wasn’t just theoretical—it was measurable. At their New York City office, the Kang sisters created a "Wall of Fame" showcasing couples who met through the app. By 2020, they were generating about 500 new couples per week, with more than 200 marriages and 20,000 relationships credited to the platform.

Years later, the sisters remain confident in their decision.

"At the end of the day, we knew we made the right decision," Dawoon said.

Their belief in Coffee Meets Bagel paid off, proving that sometimes, the boldest moves—like turning down $30 million on national television—are the ones that lead to lasting success.

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View Shark Tank on ABC every Friday at 8 PM ET, with streaming available on Hulu.