“Luckin Coffee” may double valuation
China’s Luckin Coffee, a quickly-expanding chain with a strong mobile ordering component, is targeting a valuation of up to $2 billion as it launches a major new round of funding. At that level, Luckin would double its value from just a few months ago.
Reuters reports that the firm could pick up between $100 million and $300 million, pushing its valuation from $1 billion to $1.5 billion to $2 billion.
Luckin has thrived in the Starbucks-dominated China market, as customers embrace its smartphone-focused cashless stores.
“Luckin Coffee” may double valuation <