01 Oct Coffee Meets Bagel: Shark Tank Updates : Find right right Here pt.2
Running the figures
After an extraordinary introduction and breakdown of the way the product works, the sharks dig in to the monetary information on the app that is dating.
- Month-to-month users: Between 100,000 and 500,000 users
- Yearly product product product sales: $87,000 a year ago; $270,000 in very very first five months of current 12 months
- Projected sales that are annual $1 million for present 12 months; ten dollars million for the following year
- Client acquisition price (CAC): $0.30 cents
- Profit percentage: negative
The siblings refuse to expose a number that is exact of users, that they claim is actually for competitive reasons, however they are maddeningly obscure on this point. They claim so it offers a great concept of individual base, however it obviously does not. After duplicated grilling through the sharks, Mark Cuban falls away on concept. “I’m out. You need to provide us that, have you been kidding? I’m away,” he claims. The siblings appear unruffled, and carry on fielding concerns.
Since it works out, their income are negative – meaning they aren’t making any revenue presently. That they had to expend a huge amount of cash upfront, mostly on salaries to pay for their web-developers. That features spending by themselves a $100,000 wage each. The sharks appear incredulous as of this quantity.
“That is still an important pay cut from that which we had been making prior,” says Dawoon, to which Robert reacts with rollicking, sexy music dating mocking laughter.