Lawyer of these Luckin investors said it is the first time investors have tried to hold a company accountable in China for fraud perpetrated on US markets.
The coffee upstart is expanding aggressively across product categories and markets.
Luckin’s expansion to the Middle East and India extend its competition with Starbucks to more markets.
The IPO filing comes less a week after the company’s $150 million Series B+ that raised its valuation to $2.9 billion.
Delivery giants Meituan and Ele.me stand to benefit from the coffee giants’ latest battle
Coffee competition expands to second-and third-tier cities in China.
Washington is threatening delisting for Chinese companies if they don’t comply with tighter audit rules. But there’s still room for a deal.
Coffee Box seeks to regain profitability amidst heightened competition and a cooling capital market.
The company is currently worth $2.2 billion following a $200 million round of funding in December.
Subsidies play a key role in the coffee company’s plan to seize the Chinese market.