Philz Coffee Raises $15-25 million in Venture Capital ?!
Adam Rifkin stashed this in Coffee!
Today, Philz Coffee is adding some growth capital of its own. Although the company isn’t ready to disclose the exact amount, Jaber says that the company has raised an eight-figure round that’s on the lower end of the spectrum. From what we can gather from sources, it appears to be in the $15 to $25 million range. The lead investor in the round is Summit Partners, and as a result of the firm’s investment, Summit Managing Director Greg Goldfarb will be taking a seat on the startup’s board of directors.
Jaber says that the company will also be looking to add a much smaller angel round on top of the growth equity investment, which they hope to close in the near future. While the angel investor list remains unclear, we were able to learn that it comes from entrepreneurs and executives in the consumer tech and retail spaces.
I have a feeling this is not going to end well.
http://www.huffingtonpost.com/2012/06/04/starbucks-buys-la-boulange-bakery_n_1568977.htmlStarbucks recently bought La Boulange f0r $100mln. Now they are rolling out their awesome food in their stores. I expect a big payday for Starbucks soon. Food is big now.
So what happens to Philz? It becomes a big Starbucks competitor?
has to compete with the Peet's before it competes with the Sbux
No, I just think it will be in good position to be acquired for it's drinks innovation.
By Peets? Starbucks? Blue Bottle? Someone else?
SBUX does not need drink innovation just yet. It made the right move by focusing more on food.
Dunkin Donuts has no west coast presence. I figured that was deliberate.
krispy kreme owned LA?