The Stanford GSB Chapter of Hong Kong is pleased to invite you to an evening of cocktails canapés, welcoming Dawoon Kang, a Founding Member of our Chapter based in San Francisco, back to Hong Kong, to discuss her path to co-founding Coffee Meets Bagel (“CMB”) and how she and her two sisters turned conventional wisdom in the dating app industry on its head. CMB today is considered part of the holy grail of the dating trifecta – Tinder, Hinge and, of course, Coffee Meets Bagel.

Founded just over 2.5 years ago, the sisters made waves in the industry only 18 months after founding, they turned down a USD 30 MM buyout from legendary investor Mark Cuban on the television program SharkTank, the largest such offer ever made on the show.  To date, CMB has raised USD 11.2 MM from such investors as WI Harper, DCM Ventures and Lightbank.

The business continues to grow at 20% a week, with 20 million introductions in the USA to date and 80 marriages and has redefined “love on the go”. Despite a crowded market, the Kang sisters felt that the dating app/website rules of the game needed to change. Using a propriety algorithm, the app, leveraging social networks, delivers only 1 match, a “bagel” a day with a 24 expiration window to accept and then a 7 day window to connect. Often teased as the “top graduate” dating site, the app continues to change perceptions and relationships. 

What led a Stanford GSBer from JP Morgan, her sister from HBS from Avon, and a third sister from Parsons School of Design to “leave all that” and take the plunge?  What made them think they could change a widely considered mature industry?  Is it true that Stanford GSBers can still find that perfect match they missed when they didn’t have the courage to speak at the weekly FOAM events on campus? We very much welcome you to hear Dawoon’s experience on building this business from scratch and to join us in welcoming her back to Hong Kong.