The IPO filing comes a week after the company’s $150 million Series B+ that is raised at a valuation of $2.9 billion.
A web of CAR Inc and UCAR personnel, resources and investors are behind Luckin’s expansion.
Its rapid, capital-fueled growth and widening losses leave the question of sustainability open for debate.
The funding is raised at a valuation of $2.9 billion, up from $2.2 billion in December.
Coffee Box began by offering delivery services from coffee chain brands including Starbucks.
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 […]
Luckin Coffee, the coffee shop startup using market acquisition tactics borrowed from China’s internet companies, has written an open letter to Starbucks accusing it of monopolistic practices in the country and proposing a possible lawsuit, according to Tencent News (in Chinese). Luckin has taken issue with Starbucks’ exclusivity rights with property owners and putting pressure […]
The celebrity CMO is absent from corporate filings and press conferences of the newly public company whose growth he’s credited with jump-starting.
Starbucks has always had lots of competitors and China is no exception.
Coffee chains in China like Starbucks and Luckin face growing competition from the likes of the offline retail giant.