Kopi Chat with Dawoon Kang Co-Founder of Coffee Meets Bagel

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Sharing is caring! Dawoon Kang Co-Founder of Coffee Meets Bagel, the dating app that favours women by giving them more control of their dating experience, was here at blk71 (Singapore) to share the insights of her team's startup journey.

Dawoon shared everything from faking it until making it when launching their product to useful fundraising tips. Here is a takeaway of insights from the Kopi Chat with her experiences and some useful tips.

Kopi Chat is a series of talks organized by NUS Enterprise @Blk71 that brings in speakers from all around the world to connect with the community of entrepreneurs and developers. To attend the events, just hit up the website: www.blk71.com

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Kopi Chat with Dawoon Kang Co-Founder of Coffee Meets Bagel

  1. 1. The Startup Journey: Coffee Meets Bagel Dawoon Kang Co-Founder
  2. 2. A couple of months before we launched, we bothered all our friends— and told them to bother all their single friends—and we were able to collect 1,500 email addresses. Blk71 Singapore Brought to you by NUS Enterprise Launching
  3. 3. For 3 weeks, we manually matched people who signed up, and collected their feedback. We faked it till we made it. Blk71 Singapore Brought to you by NUS Enterprise Launching
  4. 4. One metric that can tell you whether there is a product-market fit: How willing are you to recommend this product to your friend? Blk71 Singapore Brought to you by NUS Enterprise Product Development
  5. 5. It is so important to retain a spirit of experimentation and iterating fast. Even if you think you have found the answer, you can always find a way to improve. Blk71 Singapore Brought to you by NUS Enterprise Product Development
  6. 6. When your product is awesome, people will talk about it and tell their friends. In order for that to happen, you need a clear product- market fit. Blk71 Singapore Brought to you by NUS Enterprise User Growth
  7. 7. I call it a dart game where you try different things to see what sticks. We did events, flyers, partnerships – whatever we could think about – to get things going, till we could take off. Blk71 Singapore Brought to you by NUS Enterprise User Growth
  8. 8. I think the most important thing is to meet with the right people. It’s almost like dating: you have to meet the right people, and when you do, it almost doesn’t feel like you are selling. Blk71 Singapore Brought to you by NUS Enterprise Fundraising
  9. 9. By the time you get to Seed A, you need strong engagement metrics. You really need the numbers to tell the story. Blk71 Singapore Brought to you by NUS Enterprise Fundraising
  10. 10. When there is a clear product-market fit, there isn’t always a need for so much marketing— but, people are overloaded with so many things. Even if you have a great product, it is sometimes hard to be discovered. You need to achieve a certain user base to start taking off. Blk71 Singapore Brought to you by NUS Enterprise Marketing
  11. 11. For any consumer business targeting the USA, definitely consider Shark Tank. The marketing and visibility is amazing. Someone told me that being on Shark Tank is equivalent to $2-4 billion of marketing spending. Blk71 Singapore Brought to you by NUS Enterprise Marketing
  12. 12. We didn’t want to invest so much effort into localizing and doing competitor studies only to find out that Coffee Meet Bagel is not a product- market fit. It takes a lot of dollars to launch properly in a market. We spend a ton of time experimenting. Blk71 Singapore Brought to you by NUS Enterprise Global Growth
  13. 13. Takeaways from the Kopi Chat @Blk71 www.Blk71.com Brought to you by NUS Enterprise

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