Shark Tank provides business owners during the early phases of developing their company an amazing chance to gain financing to advance their businesses further. Over time, an enormous selection of company ideas have now been presented into the Sharks. While many of the have already been a flop, there has been numerous revolutionary and unique organizations that have actually impressed the Sharks because they showed huge potential. One such indisputable fact that the Sharks revealed fascination with was Coffee Meets Bagel.
Coffee matches Bagel is a dating and social network internet site that had been launched in April 2012 by siblings Arum, Dawoon, and Soo Kang. The siblings made a bid for investment in an bout of Shark Tank that aired in 2015 january. They desired a good investment of $500,000 in return for 5% of the company.
Their pitch impressed the Sharks therefore much that Mark Cuban made the bid that is biggest within the reputation for the show. As opposed to providing the siblings the $500,000 they wanted for the 5% stake, he offered them $30 million for the business that is entire. This bid astounded watchers and even amazed Cuban’s fellow Sharks.
But, the Kang siblings are not ready to spend the their company and, towards the security of several people, turned straight down the offer. They explained which they thought their company would be a little more valuable compared to the offer produced by Mark Cuban and they wished to retain control of the company they created.
The rejection generated a backlash from the three ladies, particularly on social networking. Individuals criticized their decision and also the females felt they had been the victims of sexism against ladies in business. Individuals also described them because greedy for wanting more cash with regards to their company as well as for paying by themselves an income of $100,000 a 12 months each. Once again, the ladies defended this choice by stating that the expense of located in bay area, in which the continuing company is based, is high and they had struggled to obtain absolutely nothing while developing the business. Continue reading “Today Shark Tank: How’s Coffee Meets Bagel Doing?”