China’s Coffee Disruptor Wants To Raise $800 Million To Challenge Starbucks

China’s upstart coffee brand, Luckin, has an audacious plan: convince China to switch from tea to coffee, overtaking Starbucks while they’re at it. It’s an expensive proposition, so they’re relying on an IPO — and a Silicon Valley mindset. “Technology is the core of our business,” Luckin Coffee, the young unicorn that emerged last year […]

Data Sheet—How Chinese Competitors Slipped Past Starbucks and Amazon

The China operations of two iconic Seattle companies have been in the headlines lately. Amazon announced last week that it will close its floundering domestic e-commerce business in China, ending a fifteen-year struggle for market share. And on Monday, Luckin Coffee, the scrappy Beijing-based startup that is on the verge of overtaking Starbucks as China’s […]