POETS AND QUANTS - Feb 10 - Coffee Meets Bagel is a dating site that delivers one match to users, a bagel, every day at noon. Members can then like or pass on their bagels. The founders are a trio of sisters. One holds an MBA from Stanford, another one the Harvard MBA. One-by-one, the sisters quit their full-time jobs to develop the site. They launched in 2012, and within a year generated $87K profit. By the end of 2014, profits had risen to ~$1M.
In Sep 2012, the sisters raised a $600K. In May 2014, they raised $2.8M and a year ago a $7.8M Series A. Despite a sizable Q4 drop, at $128B in venture investments, 2015 was the highest year in US venture since 2000. "We love investing in smart MBAs," says Adam Rothenberg, a managing partner at NY City boutique angel investment fund, BoxGroup. The MBA seems to be trending in value in a space once dominated by computer scientists and engineers.
by Nathan Allen
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