Shark Tank provides business owners in the very early phases of developing their company an amazing chance to gain capital to advance their businesses further. Over time, a massive array of business a few ideas have now been presented towards the Sharks. Although some among these have now been a flop, there has been many innovative and unique companies that have actually impressed the Sharks because they revealed potential that is huge. One such indisputable fact that the Sharks revealed fascination with was Coffee Meets Bagel.
Coffee satisfies Bagel is a dating and social networking web site that was released in April 2012 by sisters Arum, Dawoon, and Soo Kang. The siblings made a bid for investment within an bout of Shark Tank that aired in January 2015. An investment was wanted by them of $500,000 in return for 5% of these company.
Their pitch impressed the Sharks so much that Mark Cuban made the bid that is biggest into the reputation for the show. In place of offering the sisters the $500,000 they desired for the 5% stake, he offered them $30 million for the whole company. This bid astounded people and even astonished Cuban’s fellow Sharks.
Nonetheless, the Kang siblings are not ready to spend the their company and, towards the security of numerous audiences, switched along the offer. They explained which they thought their company would be more valuable compared to the offer created by Mark Cuban and they desired to retain control of the business they created. Continue reading
