A new financial record in China. One “young” café has obtained unicorn status.
Why it is a record?
Because it’s the very first startup that reaches a $2.2 billion’s valuation in such a short period.
For the moment, it has opened over 1,700 stores in 21 major cities around China. It’s considered an enormous speed, even compared to its principle Chinese competitor – Starbucks Corp.
Luckin Coffee has raised to $2.2 billion during its latest funding round.
Central prerogatives and goals of the company are: cheap delivery, online ordering and big discounts, making it a thorn in the side of larger U.S. chain Starbucks.