Category Archives: Luckin Coffee

Startups Weekly: VCs are drunk on beverage startups

Hello and welcome back to Startups Weekly, a newsletter published every Saturday that dives into the week’s most noteworthy venture deals, fundraises, M&A transactions and trends. Let’s take a quick moment to catch up. Last week, I wrote about an alternative to venture capital called revenue-based financing and before that, I jotted down some notes on one of VCs’ favorite spaces: cannabis tech. Remember, you can send me tips, suggestions and feedback to kate.clark@techcrunch.com or on Twitter @KateClarkTweets. This week, I want to share some thoughts — […]

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Luckin leaves bitter aftertaste, now trading below IPO price

In the first few days following Luckin Coffee’s initial public offering, the stock chart for LK looked like a roller coaster. Now it’s looking more like a freefall. The Chinese Coffee chain successfully completed its highly anticipated offering roughly a week ago, raising over $550 million after pricing at $17 per share, the high end of its $15-$17 per share range. Luckin was met with a warm reception from the markets, with the stock skyrocketing roughly 20% to a greater than $5 billion market cap in its […]

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Why Luckin’s ultimate target may not be Starbucks

Starbucks plans to double its store count in China to 5,000 in 2021 and Luckin, a one-year-old coffee startup, is matching up by aiming to reach 4,500 by the end of this year. Luckin’s upsized $651 million flotation has brought American investors’ attention to this potential Starbucks rival in China, where the Seattle giant controlled over half of the coffee market as late as 2017. But as soon as you make your first purchase with Luckin, you realize its ultimate goal may not be to topple Starbucks. […]

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Starbucks’ Chinese nemesis surges 20% in public debut

Shares of Luckin Coffee jumped 20% in its first day of trading on the Nasdaq stock market. After opening at $17.00, shares of the Chinese Starbucks competitor climbed as high as $25.96, or more than 50%, before settling back down to $20.38 at the market’s close. The company has a market cap north of $5 billion after its first day of trading. The brick-and-mortar coffee chain has achieved major success in China by offering speedy delivery services to Chinese consumers. The company has nearly 2,400 stores compared […]

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Mary Meeker’s new fund, two IPOs from China and what’s next for Uber and Slack?

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week Kate Clark and Alex Wilhelm dug into the latest, namely big news on the fund front from folks you know, two China-based companies going public on domestic exchanges and what’s next in the long-running sagas of getting Uber and Slack public. First up, Kate talked us through the latest at Kleiner Perkins and Mary Meeker’s new growth fund, called Bond Capital. Alex has some more great context on […]

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As shared kitchens heat up, a China-based startup, Panda Selected, nabs $50 million led by Tiger Global

A few weeks ago, we told you that former Uber CEO Travis Kalanick looks to be partnering with the former COO of the bike-sharing startup Ofo, Yanqi Zhang, to bring his new L.A.-based company, CloudKitchens, to China. Kalanick didn’t respond to our request for more information, but according to the South China Morning Post (SCMP), his plan is to provide local food businesses with real estate, facilities management, technology and marketing services. He might want to move quickly. Kitchens that invite restaurants to share their space to focus on […]

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