Luckin doubled its valuation to US$2 billion after a recent funding round.
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Posted inThe Numbers
Briefing: Luckin Coffee raises $200 million at $2.2 billion valuation
Chinese upstart Luckin Coffee raised $200 million Series B as it targets even faster delivery time for its brew.
Posted inUp and Comers
Coffee startup Luckin to extend discount drive despite losses
Subsidies play a key role in the coffee company’s plan to seize the Chinese market.
Posted inUp and Comers
Briefing: Luckin Coffee seeks funds at up to $2 billion valuation
Hot Chinese coffee company’s new fundraising comes just months after last round.
Posted inOn the Cusp
Luckin Coffee warns of fraudsters using its brand name to dupe investors and franchisees
The company said it operates 100% under the direct sales model and has not accepted franchising of any form.
Posted inTurf Wars
After rumors of Starbucks coffee delivery, Luckin Coffee launches food delivery
China’s “new retail” startup Luckin Coffee announced today to accelerate and expand its business in light meals and snacks. The news comes just days after rumors that Luckin’s biggest competitor Starbucks is planning to deliver coffee with the help of Alibaba-owned food delivery platform Ele.me. During its press event on August 1st, Luckin introduced a price […]
Posted inTurf Wars
China’s coffee war moves up a notch as Luckin and Tencent ink strategic agreement
With tech giants moving aggressively into new retail, the coffee market is reaching its boiling point.
Posted inTurf Wars
Luckin says Alibaba deal doesn’t make Starbucks new retail
Guo Jinyi, co-founder and senior vice president at Luckin, responded to the Alibaba-Starbucks deal by saying that traditional retail, even with the increased takeaway and mobile payments, is not necessarily new retail since the fundamental business model had not changed.
Posted inTurf Wars
Starbucks said to strike back at Luckin with coffee delivery by Ele.me
Starbucks said to deliver coffee in tie-up with Alibaba’s Ele.me —SCMP What happened: Starbucks is planning to deliver coffee with the help of Alibaba-owned food delivery platform Ele.me, according to unnamed sources. The move comes after Starbucks reported a 2% decline in revenues for the last quarter. The two companies are yet to confirm the news. […]
Posted inUp and Comers
‘New retail’ coffee startup Luckin completes $200 million A round
China’s fast-growing “new retail” startup and purveyor of coffee Luckin has announced it has completed its A round of financing worth $200 million valuing it at $1 billion. The round was financed by Dazheng Capital, Joy Capital, the Government of Singapore Investment Corporation (GIC) and Legend Capital, Sohu reports. The rise of Luckin shows that […]
