Three sisters from San Francisco — Soo, Arum and Dawoon Kang — go on ABC’s Shark Tank to pitch their dating app, Coffee Meets Bagel. They’re seeking $500k for 5% of their company. Here’s how it works: every day at noon they curate one perfect match for each client, who then has 24 hours to like or pass the match. A “Like” leads to private chat that expires in 7 days.
But when Mr. Wonderful asks how many users they have, they generalize with “several hundred thousand users.” Mark Cuban wants a more specific number. When they say they’re not releasing their user number, Cuban quickly says what every entrepreneur dreads, “I’m out.”