The IPO filing comes less a week after the company’s $150 million Series B+ that raised its valuation to $2.9 billion.
Chinese consumers have reacted positively to the brand, which positions itself as an alternative to Starbucks.
Michael Norris discusses Luckin Coffee’s IPO and how much of the business actually makes sense.
The IPO filing comes a week after the company’s $150 million Series B+ that is raised at a valuation of $2.9 billion.
Shares slid overnight after losses hit nearly $100 million in the quarter.
Luckin is under financial pressures as the startup coffee chain is showing signs of overheating.
Its rapid, capital-fueled growth and widening losses leave the question of sustainability open for debate.
Luckin Coffee and Tencent have been partners since Sept. 2018.
Starbucks has always had lots of competitors and China is no exception.
The company plans to raise $200 million in its IPO on Nasdaq.