CHEDDAR – Oct 10 – Coffee Meets Bagel is adding two new executives to its C-suite. Dawoon Kang, CEO and founder of Coffee Meets Bagel, shares her news and explains what sets the app apart from others.
Q: What made you start CMB?
A: There is a gender imbalance on dating apps – 64% men and 36% women. In general guys are twice as active on dating apps as women. So they get frustrated because they don't get any replies to their messages and women are overwhelmed. So we decided to create a product that speaks to women.
Q: How are you different from apps like Bumble where women make the first move.
A: We are known to be app for people looking for real connection. We invest a lot of time and resources into our algorithm that selects the best quality matches for our users.
Q: You made ~50M matches. What contributed to this type of growth?
A: The big member base, of course. Lot of singles are tired of swiping and our users are really looking for real connections with fewer number of people.
Q: How much do you invest in your algorithm?
A: As you know, earlier this year we raised our B series and we are now building up our data science team.
Q: How much do you reach out to your users for feedback to see if your algorithm is working?
A: All the time.
Q: You have some big announcements for us…
A: We have hired our first CFO, Quincy Yang, who comes from OpenTable and new CTO, Will Wagner.
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