So, here's a fun one: Tiger Global Management, the investment firm that made its name backing tech giants like Meta Platforms Inc. (META), has reportedly put money into... bagels. Yes, bagels. Specifically, PopUp Bagels, the viral New York City chain that's seen its valuation jump fivefold in just five months, hitting $300 million after a late-March investment, according to a Bloomberg report on Friday. PopUp Bagels and Tiger Global didn't immediately respond to requests for comment, but if the report holds, it's quite the rise for a pandemic-era kitchen experiment.
This isn't just a random snack bet—it's part of Tiger Global's quieter, more selective comeback. After the 2022 tech downturn hammered its portfolio (we're talking a drop of over 50%), the firm pulled back from aggressive venture bets. Now, it's streamlining, having exited more than 85 companies from its most recent fund to focus on high-conviction plays like OpenAI and Waymo, while shifting toward smaller, later-stage deals. The PopUp Bagels move fits that pattern, and it also highlights how investors are hungry for buzzy, high-growth dining concepts these days.
Speaking of buzz, let's talk about the bagels themselves. Founded in 2020 by Adam Goldberg, PopUp Bagels started as a home kitchen project in Connecticut during the pandemic and quickly blew up on social media. Its signature "grip, rip and dip" format—serving unsliced bagels meant to be torn and paired with spreads—has built a cult following that includes celebrities and athletes. In 2023, New York City-based investment firm Stripes acquired a majority stake, and with plans to open 300 locations across the U.S. in the next four years, the chain was already valued at over $60 million before Tiger Global's reported bet. Not bad for a bagel brand that's barely out of the oven.
