Coffee Meets Bagel: Funding & Revenue Stream (post 5)

 Coffee Meets Bagel operates using a freemium business model for their revenue stream. In the freemium business model, users pay nothing to download and use the app and are offered optional in-app purchases for premium features, additional content, or digital goods. By utilizing a freemium business model, The Coffee Meets Bagel cost of a basic membership is free, however, Revenue generation involves a variety of in-app purchases. An example of an in-app purchase that contributes to the revenue stream of coffee meets bagel is through digital currencies. Additionally, they utilize a paid premium subscription to add to their revenue stream. Members that buy into their premium membership gain access to certain features and services by paying a monthly sum. To date, Coffee Meets Bagel has raised approximately $31 million in private equity funding across multiple rounds of series A and Series B funding from venture capital firms. Startup companies like CMB receive Series A Funding when they present great ideas as well as a strong strategy for turning that idea into a successful, money-making business. Initially, they received $7.8 million Series A financing (led by existing investor DCM Ventures Quest Ventures and Azure Capital. The company’s latest funding round, which took place in May 2018 had raised $12 million in Series B capital led by a privately backed venture capital firm called Atami Capital. Series B funding involves taking businesses past the development stage.  Investors help start-ups get there by expanding market reach. The goal of acquiring this capital was for enhancing international knowledge and connections for expansion (Heater, 2018). By doing so, CMB is expanding on one what Baym’s has reached, which is one of her Key concepts for understanding the affordance powers of communication technologies. Ultimately, they are the increasing size of an audience a media form can attain and support.

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