Burning Cash Is Strategy of Choice for China’s Starbucks Rival

Source: Bloomberg Luckin Coffee’s plan may be risky approach for selling java IPO raised $561 million; shares surge in first day of trading A customer enters a Luckin Coffee outlet in Beijing.Photographer: Gilles Sabrie/Bloomberg The team behind Luckin Coffee Inc. is betting that what worked for them in car rentals will prove a success with … Read more

In brief: China’s startup Starbucks challenger now valued at $2.9b

Source: TechInAsia China’s Luckin Coffee, a self-declared challenger to Starbucks, has raised US$150 million in its latest round of funding, which values the company at $2.9 billion, reports Reuters today. The investment, US$125 million of which came from a private equity fund managed by BlackRock, follows a US$200 million round in November that had increased the company’s valuation … Read more

Why it’s time to wake up and smell the coffee on Luckin

Source: technode Luckin Coffee, China’s delivery-focused Starbucks rival that opened around 2,000 stores over the past year and a half, is a hell of a dream—a rapidly-growing chain fueled by ambitious venture capital and buy-one-gift-one offers. A little over 15 months from launch, Luckin is preparing for a US IPO with a valuation of around $3 … Read more