Tiger Global Leads Funding for PopUp Bagels at $300 Million Valuation; Microsoft Amends OpenAI Agreement
Investment firm Tiger Global Management led a funding round for New York City-based PopUp Bagels, valuing the chain at $300 million in late March 2026. Separately, Microsoft and OpenAI amended their partnership on April 27, 2026, allowing OpenAI to deploy products across multiple cloud providers while maintaining Microsoft as the primary partner.
Pixel009 / Wikimedia (CC0)Investment firm Tiger Global Management led a new funding round for PopUp Bagels, valuing the New York City-based bagel chain at $300 million in late March 2026. The investment marks a five-fold surge in the company's valuation over just five months, according to Bloomberg reports.
PopUp Bagels, founded in 2020 by Adam Goldberg, began as a home kitchen experiment in Connecticut during the pandemic.
The chain built its reputation through social media buzz and long lines at limited pop-up locations, offering unsliced bagels in a 'grip, rip and dip' format paired with spreads. This approach drew a cult following that includes celebrities and athletes.
In 2023, New York City investment firm Stripes acquired a majority stake in PopUp Bagels, valuing it at over $60 million at the time, media reports indicate.
Expanding from its current footprint. Tiger Global's involvement underscores the firm's selective approach to investments following a period of portfolio streamlining. The firm has exited more than 85 companies from its most recent fund to focus on high-conviction bets, including stakes in OpenAI and Waymo.
Tiger Global made its name backing high-growth technology companies such as Meta Platforms Inc. After a pullback from aggressive venture bets amid the 2022 tech downturn, which saw its portfolio drop over 50%, the firm shifted toward smaller, later-stage deals in buzzy sectors like high-growth dining concepts. The PopUp Bagels investment highlights surging investor appetite for such brands.
Key Facts
Story Timeline
4 events- April 27, 2026
Microsoft and OpenAI amend their agreement, allowing multi-cloud deployment and adjusting IP licenses and revenue shares.
1 sourcestratechery.com citing Microsoft - Late March 2026
Tiger Global Management leads funding round for PopUp Bagels at $300 million valuation.
2 sourcesBenzinga · Benzinga citing Bloomberg - 2023
Stripes acquires majority stake in PopUp Bagels, valuing it at over $60 million.
1 sourceBenzinga citing media reports - 2020
Adam Goldberg founds PopUp Bagels as a home kitchen experiment in Connecticut.
1 sourceBenzinga
Potential Impact
- 01
OpenAI broadens cloud options, potentially increasing enterprise adoption by serving AWS and others alongside Azure.
- 02
PopUp Bagels gains capital for 300-location U.S. expansion, accelerating growth in competitive food-service sector.
- 03
Microsoft's non-exclusive license reduces Azure's AI exclusivity advantage, but caps on revenue shares improve its financial position.
- 04
Tiger Global's selective strategy redeploys capital into consumer brands like PopUp Bagels, signaling investor interest in non-tech high-growth areas.
Transparency Panel
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